Towing Issues: Financed car total loss, vehicle license plates, tow yard

Question
Three years ago, I got a financed car to my wife. We got separated however I keep doing the car payments.In addition, I had to reduce the our insurance coverage (no collision coverage). Moreover, two months ago, she had an accident and the car went to the tow yard. The car is total loss so basically I still owe the loan to the bank so I am still doing the monthly payments. Today I received a letter from the tow company saying that they have a lien and they are planning to make an auction. What should I do? Should I let the tow company make the auction? should I try to recover the car even though I am not going to fix it?

Thanks

Answer
Well if the bank still has an interest in the vehicle (you owe money so they do) and you have no insurance to cover the loss, one thing is that the bank might have insurance on the loan to cover their loss.
But that will not help you much.

Now as to what to do with the tow company, since you did not mention the state you are in I can not help with specific information for you.
But I would talk to the tow company and see what you can work out with them.  In some states, you can lose your drivers license and other vehicle license plates (tags) due to unpaid towing bills (again there is that unknown state issue again)

Sorry but that's about the best I can provide you with the limited information I received.