Take over son's truck payment

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  #1  
Old 04-11-06, 09:56 AM
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Join Date: May 2004
Posts: 10
Unhappy Take over son's truck payment

My son got hurt on the job and now can't make his payments. Will gmac drop the gap insurance and maintence fees to decrease his payments or are we going to have to take over payments with those included but don't need???
 
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  #2  
Old 04-11-06, 05:29 PM
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Join Date: Nov 2005
Location: race city, usa, mooresville
Posts: 441
first, i'm sorry that your son got hurt and i hope he is recovering well. please tell us, is the vehicle new? does he not have a disability plan with the company that he was injured on? will his auto insurance company not make payments till he is well? what about workmans comp? sorry for all the questions, but there should be other options. if the vehicle is new, the gap should be held on to unless the insurance that he may be already paying for will cover the cost of replacement value. the maintenance fees may have been used to secure the deal with the finance company if he had less than a stellar credit score. just to let you know, i just bought a new truck, and i made sure that if anything happened to me that the payments would be taken care of or the truck would be paid off if i croaked(hope that does'nt happen because i'm so deep in debt i can't afford to croak). of course i am probably way older than your son(46) had to look out for the wife.
please let us know whats going on and we will try to help in any way we can, that's why we are here,

barry
 
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