Q: Bank kept over payment of insurance of $20,000. I paid over $25,000 for car, insurance paid $49,000 & value was $53,120.
In January of 2023, I totaled my 2021 Dodge Challenger which I purchased through Ally Bank September 20, 2020. I put $20,000 down as a down payment, traded in my older model,made 19 on time payments of $275.48 ($5,234.12) for a total of $25,234.12 in payments made towards the vehicle (not including trade valued at roughly $12,000)at the time of loss and the purchase price was $55,120.
In February, my insurance company at the time (Liberty Mutual) deemed the car a total loss and sent payment of over $49,000 to Ally Bank (Ally has since blocked my access to my statements from my account). In the middle of February, Ally Bank sent me a refund of $550.96. When I called them to ask where the remaining $20,000 was, they said it wasn't owed to me and they were keeping it.
I am positive this isn't legal, but I have no where to turn. Please help. Thank you
A: Use the Justia Find a Lawyer tab and search for consumer lawyer and/or a collection lawyer in your area---call a few them and discuss the specifics of your case with them and then decide how to proceed. Good luck.
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