This is a difficult position to be in. Because the insurance companies are only required to pay the replacement value (i.e. what the car crash victim’s totaled car was worth immediately before the crash), insurance companies are generally not responsible to pay off the car crash victim’s full loan when the loan balance is more than the replacement value of the car. However, some car crash victims maintain GAP coverage through their bank, which would cover the difference in the event the victim is “under water” on their loan. Additionally, the car crash victim can, in some circumstances, work with their bank to roll the remaining principal balance into a new loan when the victim purchases a new vehicle.
A special message to the friends and potential new clients of FVF Law:
FVF’s client contract has, for a long time, contained the following termination clause: “FVF Law is a values-driven law firm, and because diversity is a value we support, “good cause” [for termination] shall include any expression by the client of intolerance with respect to race, ethnicity, gender, religion, or sexual orientation.”
Now more than ever, FVF recognizes the global need to combat racism proactively, and to do so with more than just words. This firm was built on the mission of being better. Better lawyers. Better advocates. Better people.
We all know being better requires an ongoing commitment to learning, growth, introspection, and change. We enthusiastically embrace that commitment and hereby pledge to do more than just talk about it. Stay tuned on our blog and facebook page for more about what FVF is doing to back this important global effort.
In the meantime, we would respectfully request new clients who find their own views incompatible with this pledge to consider contacting another firm to handle their case. In any case, we invite you to provide honest feedback by emailing email@example.com.
Josh and Aaron, and all of FVF Law