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OK a bit furstrated here
I had Gap Insurance in my car that got totalled on 1-31-08
I paid full price for hte insurance when I bought the car
The insurenace check came thru and left a balanceFor those of you that do not know about Gap insurance. If you owe more then your car is worth Gap Insurance pays off the “GAP”
I paid full price or the insurance. The Gap check came thru today and left a balance of just under $500. Patelco Credit Union is telling me I have to pay the difference??? GAP Insurance is supposedto cover the entire GAP.
Their own policy brochure says “Gap pays the entire balance due on your loan beyond what your automobile insurance will pay.”
How come I now have to pay this remainign $500 dut to them taking so long to get the checks from the gap Carrier??I have called teh Patelco Gap person today and of course only got to leave a VM and she has not called me back.
I’m heading to the branch in my building right now to use their brochure against them
I’m going ot tell them either they pay it off, write it off or they will end up paying it off and my court costs when I win in court if they want to try adn play that wayWell the branch Rep is not sure what is going on and left a VM for the same woman I left one for this morning. They are now trying to say I had not paid the Gap Insurance in full so I have to pay the $145 I owe on that but I still don’t understand how $145 has turned in to $495??
skigod377 wrote:Are you sure that is not your deductable?
Yes the rep in my building coudn’t even tell me face to face why they did not pay off the entire amount. He did not get a call back from the Gap person yesterday either. I hope to hear something today.
Dragon Master wrote:skigod377 wrote:Are you sure that is not your deductable?
Yes the rep in my building coudn’t even tell me face to face why they did not pay off the entire amount. He did not get a call back from the Gap person yesterday either. I hope to hear somethign today.
I hope they straighten it out. It sounded like the deductable to me, but maybe they just dont know what they are doing. Keep us poste.d
Check your policy carefully and then give them a reasonable time to reply and take care of whatever the problem is. If they don’t your local Better Business Burear is always a good place to contact and let them handle it. I did this once with a local merchant that tried to cheat me and thre minute he received the letter from the BBB he sent me a check for what he owed me.
darjeb wrote:Check your policy carefully and then give them a reasonable time to reply and take care of whatever the problem is. If they don’t your local Better Business Burear is always a good place to contact and let them handle it. I did this once with a local merchant that tried to cheat me and thre minute he received the letter from the BBB he sent me a check for what he owed me.
Yup, it’s amazing how a letter from the BBB gets things moving!
Good luck, DM!
Well the lady called back and I had not paid the Gap Insurance in full so part of it was that. Then I owe interest between the loss 1-31-08 and Insurance pay off and there was a 3rd thing too. I’m going ot try and incorporate it into my personal loan and refinace it to lower the overall payments
Dragon Master wrote:skigod377 wrote:Are you sure that is not your deductable?
Yes the rep in my building coudn’t even tell me face to face why they did not pay off the entire amount. He did not get a call back from the Gap person yesterday either. I hope to hear something today.
My husband sells cars, he was also an insurance auto adjuster. He said your gap insurance should pay the full amount. You will have to pay your insurance deductible. Did you pay your deductible? Is it possible that is the extra amount?
It goes like this, car wreck, totalled, insurance company writes you a check (based on the estimated value of the car) minus your deductible and the gap insurance covers the remaining amount minus the deductible.
Hope this helps, sucks that you are having trouble….do what I do, yell, scream, act indignant and ask to talk to a supervisor…then go home an write a professional letter and send it certified, return receipt…usually that works and they will take care of you to shut you up!
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Well it’s all done I understood the issue after thinking about it and I was able to roll the amount into my pesonal loan and actually lower that payment by $60 since I had already paid off so much of it. They would not refinance the signature loan any other way. That car is now complately HISTORY so I need to move on to my new car with the chipped windshield that happened on the way to work last week GGGRRR!!!
Glad you got everything taken care of…except the windshield…sorry about that one. 😕
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