Okay, we all get it. You are sick of driving around in that rolling bad decision of an SUV while your bank account cries out for relief. And hey, you could use a fat insurance check to help you pay down your credit card debt. But burning your SUV is not a good plan.
For one thing, police and insurance companies seem to be astonishingly good at finding out. Insurance fraud is a crime.
If you are stuck with a vehicle you cannot afford, sell it. Even if you are upside-down on your loan, it will be a lot easier to pay off the difference than the whole loan. You can probably work out a payment plan with your loan holder, as well, which will make it easier to satisfy the debt.
Saddled With Debt, Some Decide to Torch Vehicles | Washington Post
(image: Maryland State Fire Marshal)
If you are in Minnesota, contact The Glover Law Firm, LLC, for a free case evaluation. In any other state, you can find a consumer rights lawyer using the National Association of Consumer Advocates lawyer database.
