Stolen vehicle debt

allrawpaul · #1 (**permalink**) 10-16-2009, 03:26 AM

I owed about 6 grand on a vehicle 10 years ago when it was stolen. I reported it stolen , I moved, and havent heard from the lender or anything about the vehicle since. What should I do about it? Thanks, Paul.

sapphirecapital · #2 (**permalink**) 10-16-2009, 05:20 AM

no insurance? pull your credit file, should be on there, when you have it contact them and make a deal, remember any penny they wave is income for the IRS

Upper10% · #3 (**permalink**) 10-16-2009, 12:06 PM

Quote:

Originally Posted by allrawpaul

I owed about 6 grand on a vehicle 10 years ago when it was stolen. I reported it stolen , I moved, and havent heard from the lender or anything about the vehicle since. What should I do about it? Thanks, Paul.

Did you contact the lender at the time you reported the vehicle stolen to the police?

I take it there was a lien on your vehicle and your insurance company was aware of who was the legitimate loss payee...i.e. meaning you received no money from the insurance company...you should have received a letter from the insurance company of the amount that they paid the lender on your behalf and whether you owed any balance or if your loan was zero.