Negative Equity & Verbal Agreements

[J-Corn]

What is the name of your state? Texas

HELP!! I am going to court in two days and I need to know where I stand. Here is a run-down

A friend of a friend borrowed my truck (he asked to borrow it).
He went WAY off course from where he was supposed to be going.
He was speeding and driving wrecklessly.
He totaled the truck.

Okay, so here is where I am now. I was a little upside down in what I owed versus what the insurance company paid me (about $1000 because the truck was BRAND new.....I had not even made a payment on it yet).

He agreed on more than one occation (in front of witnesses, who are going to testify on my behalf) that he would pay me any and all money I was out to get back to where I was before this accident.

I am just wondering if I have a chance of winning or am I fighting a lost cause?

Thanks in advance....

 

[VeronicaLodge]

you have a chance, does he have the money?

 

[J-Corn]

He does have the money, and that I can prove too.

 

[ecmst12]

The only problem is, your loan had nothing to do with the accident. You were paid the value of the truck, which is less then you paid for it since a car drops A TON in value the second you drive it off the lot, and as far as the law is concerned, you were made whole. The only thing I think you could successfully sue for is your deductible.

 

[J-Corn]

That is what I was afraid of. My only hope was that since he agreed to pay the amount I was out, I hoped to get that back.

 

[J-Corn]

Update

Just so anyone who may care knows, court is over and I was awarded the total amount I was asking for. I am happy.

 

[fcobarr]

getting a judgement is one thing....but will he pay?

 

[J-Corn]

Final Update

I received my check in the mail today. The total amount. Looks like there are still a few good people out there that (although forced) take care of their responsibilities. Happy ending....

 

[VeronicaLodge]

excellent congratulations, now make sure that check clears!