Auto Insurance Claims: lien holder settlement, lien holder, aol

Question
I was in an accident a few months ago & the my vehicle was rendered a total loss by bout $10. After the settlement with the insurance company & lien holder there was a $2000 pay off still left. The lien holder decided to keep the vehicle to get the most out of it that they could but I am still left with the pay off of $2000. How is this possible? I would be ok with getting the vehicle back & continuing to pay the money or them keeping the vehicle & my loan being done with nothing else to pay on it. However I do not understand how they can keep my vehicle & still make me pay $2000. What steps do/can I take to go one way or the other?

Answer
Hello,

This is a little strange where the lien holder can keep the car and you still owe the money. Kind of sounds against the law, but I am not a lawyer.

If you are willing to take the car back and continue paying on the note, what would be the problem. The car only serves as collateral for the loan itself.

Contact the lien holder and see if you can work this out. If not, its time to get an attorney involved.

The way I look at it, is if they want to keep the car no problem, however you should not owe anything.

If you tell me the state you are in, I might be able to refer an attorney.
Write me private email at robo14@aol.com

Rob