WHAT KIND OF CASES DOES THIS LAWYER HANDLE ON A DAY-IN, DAY-OUT BASIS?

Make sure the attorney has successfully handled cases just like yours. Be specific, about the incident and the injury, when asking this question. If you were hit by a commercial vehicle like an 18-wheeler, such a truck accident is a different case than a car-on-car collision. If you have been in a car accident, but your injury is catastrophic and could impair you with a lifelong treatment needs, then be sure and discuss this matter and life care planning. For example, if a person’s ankle was crushed and requires extensive surgery and screws, there will be mobility issues. For someone who works on their feet or enjoys hiking, these may no longer be options. Your attorney needs to show they can deliver the kind of settlement or verdict that you need.

HOW LONG HAS THE LAWYER BEEN WORKING IN THE FIELD IN WHICH YOU NEED A LAWYER?

Experience matters, and you want to make sure this isn’t your attorney’s first rodeo. If the lawyer starts daydreaming about cases that don’t sound similar to yours, be specific and be clear you want to hear about cases like yours. Certain types of incidents, such as an airplane disaster or a wildfire catastrophe, may be less common. However, the firm and the other lawyers should have recent experience to satisfy your answer. Young lawyers start building experience by assisting senior attorneys. This trains them up and helps them gain valuable knowledge, but your injury case should not be someone’s practice test. You only have one opportunity to bring a lawsuit, and your quality of life very likely will rely on the outcome. Make sure the lawyer you’re speaking with is a veteran in their field, as that will provide you with the best advocacy possible.

WHAT IS THE LAWYER’S TRACK RECORD OF VERDICTS AND SETTLEMENTS?

This is a great follow-up to question #1, and it’s important! A verdict is different than a settlement. A verdict means the case was taken to trial and your lawyer generated a successful outcome. A settlement is an agreement between you and the other party, and is often most satisfactory when negotiated and double-checked by your own attorney instead of relying on the wording provided by the other side. To be fair, all good lawyers will win and lose cases, but it’s okay to ask about their win/loss record. Obviously, you want to hire a lawyer who wins most of the time! You want to hire a lawyer who is confident in their trial abilities, and you will hear or see this confidence when speaking about their trial experience. However, the deeper objective of this question is to find out the last time your lawyer was in trial, or if they even go to trial at all. Many law firms with commercials, billboards, and large advertisements simply settle cases. While the amount may seem large, your true damages and injuries may not be thoughtfully accounted for. Within the legal community, it is often known that the lawyers who obtain the highest settlements are often the ones who welcome being in trial, and are ready, willing, and able to work for the highest verdicts. Regardless of how your case is completed, settlements and the surrounding negotiations will still benefit from the assistance of a lawyer. Those who walk in with an attorney receive payouts far higher than those who go it alone — an average of 300% higher according to a survey by the Insurance Research Council (IRC). Attorneys have the experience to negotiate for the best settlement amounts, and may secure what you need without going to trial at all.

DOES THE LAWYER TRY LAWSUITS IN COURT OR IS EVERY CASE SETTLED OUT OF COURT OR REFERRED TO OTHER LAWYERS TO TRY?

It’s not a bad thing to settle a case before taking it to trial, and in fact, you may find it preferable to get a fair settlement as quickly as possible and be done with the case. However, you also want a lawyer who is prepared to personally do whatever is necessary to secure a satisfactory outcome for you and your family. You do not want an attorney who will pawn you off on a junior associate, nor an attorney who urges you to settle for less rather than do the work required for a trial. You deserve a lawyer’s full commitment to your needs and desires. Abraham Lincoln was a lawyer in chief, and had a famous quote on litigation that points out its potential to be time-consuming, expensive, and emotionally taxing: “Discourage litigation. Persuade your neighbors to compromise whenever you can. Point out to them how the nominal winner is often a real loser — in fees, expenses, and waste of time. As a peacemaker the lawyer has a superior opportunity of being a good man. There will still be business enough.” As long as a settlement is fair and in the best interest of the client, then settling a case is an admirable outcome. If the other side refuses to deal fairly, however, your lawyer should have no hesitation about bringing them before a judge.

HOW WILL YOU KEEP ME UPDATED ON THE STATUS OF MY CASE?

Communication is important and one of the most frustrating experiences with many law firms – just look at negative reviews from law firms and you will frequently see references to poor communication. From the beginning of contacting the firm to your consultation, you should feel like you are just one of a select few clients. Do the lawyers return phone calls promptly? How frequently do they communicate through email for status updates? These are all great follow-up questions to have for a prospective lawyer. Be sure to ask your lawyer if you have a question for them specifically: how long do they take to provide a return call? Within 24 hours is acceptable, but responses are often sooner. If your lawyer claims they go to trial often, then usually they will work with a colleague to ensure your call is returned as soon as possible.

HOW LONG WILL IT TAKE TO RESOLVE MY CASE?

An honest lawyer will be careful when answering this question. The process to receive the maximum amount of compensation is rarely, if ever, fast. A lawyer that tells you the settlement is quick and provides an accelerated timeline without knowing all your facts, the medical records, or taking depositions from the insurance company cannot likely answer this question with accuracy. The best answer is usually a “rough estimate” and it could take at least six months and up to two years for more complex cases with severe damages or a wrongful death involved. The lawyer should be interested in resolving your case as quickly as possible so long as it is getting you the compensation you deserve. They should be able to provide you with examples of previous case results to back up this educated guess.

WHAT IS MY ROLE IN THE LAWSUIT?

This should be a question your lawyer is enthusiastic to hear and answer. Your role is not to worry about the case, but to focus on healing and getting well. The sooner your life can get back to normal, the sooner the doctor visits will stop and a resolution to your case can be celebrated. Putting the matter behind you and closing this challenging chapter of your life will lead to even further emotional well-being. As you will see in our firm testimonials and more than 200 five-star reviews, our role is to ensure you receive justice and then can go about enjoying your life.

This Is What Happens if You Total a Financed Car in Colorado

Posted in Car Accident,In the News on July 17, 2022

After a car accident, the insurance company will inspect your vehicle for damages and estimate its repair costs. If the insurance company determines your car is beyond the cost of repairs, it will consider the car a total loss.

What happens if the insurance company totals your car, but you still owe money on it?

Below, our Denver car accident lawyers explain what happens if you total a financed car in Colorado.

You Have the Right to Pursue Compensation From the At-Fault Party

If you’ve been in a Denver car accident as a result of another person or entity’s negligence, you may be able to pursue compensation for property damage, medical bills, and lost wages.

Speak with an experienced car accident attorney to discuss your legal options. The Denver personal injury attorneys at Zaner Harden Law handle the hard work for our clients while they focus on moving forward.

We can deal with the insurance companies on your behalf and fight for the maximum amount of recovery you deserve.

What happens if you still owe money on your totaled car?

The insurance company will total your car or mark it as a total loss if it determines that your car is more expensive to fix than it’s worth.

Under Colorado law, insurance companies generally use a 100% threshold to determine when to total a vehicle. A 100% threshold means the car is considered a total loss if its repair cost and salvage value are at least 100% of its fair market value immediately before the damage.

Fair market value is also called actual cash value or ACV.

What happens if you total a financed car and you still owe money on it?

1. The insurance company writes a check to your finance company for the actual cash value (ACV) of the vehicle.

If the insurance company totals your car, it will not pay for the repairs to fix it. Instead, it should pay out the ACV of your vehicle.

However, if you still owe your finance company money for your car loan, then the insurance company will not give you the insurance money.

Generally, the terms of your car loan require you to apply any insurance payments you receive to your outstanding loan. Because of this, the insurance company will send a settlement check for the car directly to your finance company.

Remember that once the insurance company pays for the car, it is no longer yours. You do not need to insure it anymore. However, you may still have your car loan to pay.

2. The finance company will deduct what you still owe on your car loan and send you a check for the difference.

Once the finance company receives the insurance company’s settlement check, it will deduct what you still owe for the car.

If your car’s fair market value is more than what you owe on your car loan, you will get to keep the rest of the money. The finance company will send you a check for the difference.

For example, if your car’s ACV is $10,000 and you owe $3,000 on your car loan, then the finance company gets $3,000, and you get $7,000.

However, you may owe more money on your loan than the ACV of your car. What happens then?

What to Do if Insurance Does Not Pay What You Need

Unfortunately, it’s not uncommon to end up owing a finance company money on a totaled car you no longer own. For example, this situation may occur if it’s early in your financing or you have a long-term loan.

If the ACV is less than the remainder of your car loan, then you may face a couple of different scenarios:

First Scenario: You’re Responsible for Paying the Difference

If the ACV check from the insurance company is less than what you owe your lender, then you are responsible for paying the difference. You will need to continue to make your car loan payments.

A car accident and total loss of a vehicle do not negate the financing on the vehicle.

Second Scenario: You Have Guaranteed Asset Protection (GAP) Insurance

Guaranteed Asset Protection, also known as GAP insurance, protects motorists from out-of-pocket costs in the event of a total loss. GAP insurance pays the finance company the difference between the insurance company’s settlement and what you still owe on your loan.

GAP insurance is optional add-on protection when you finance or insure a vehicle. Check your policies or call your finance or insurance company to determine whether you have GAP insurance.

Did you crash a car that you still owe money on? Our Denver car accident attorneys can help.

Car accidents can result in serious property damage, injuries, and death. Did you or a loved one suffer physical injuries and damages in a car accident as a result of someone else’s negligence? Schedule a consultation with our experienced Denver car accident lawyers. You may have a viable car accident claim to recover compensation for your damages.

A car accident attorney can walk you through what happens if you total a financed car. We can help you negotiate a fair settlement with the insurance company. You have the right to contest the insurance company’s valuation of your car if you disagree with it. We can help you obtain the compensation you need to pay off your car loan and move forward after an accident.

Call Zaner Harden Law at (720) 594-6256 to schedule a consultation to discuss your case. You can also chat with us online or fill out our online contact form.

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