credit problem and ford

[gixxerboy1]

Vehicle is stolen and a claim is filed. Insurance company will usually settle within 30 days unless it is sent to their fraud unit. Once it is in the hands of fraud, they can stall indefinitely.
The settlement for the vehicle is based on an average of wholesale and retail and has nothing to do with the residual value set by leasing company. In your case, the insurance company paid the value of the car, not the value of the lease. There was a gap between the two. Not the Insurance companies issue, not the coverage they provide.
So if there is a gap, its your problem. Sorry.

The mileage issue may have some merit. Leasing companies will usually persue this revenue with internal council. Regardless of who comes after you, negotiate. Depending on the state, anything over 3k and you can not represent yourself. Point being it will cost you to defend.

us miss read me. Yes it was sent to fraud and not paid on the theft. But the truck was recovered and ford got it back. So the insurance company wouldnt have to pay on the theft.

Ford is saying it was over the miles which it was close when it was stolen. Also ford said it has damages to it. So my collision coverage would cover that but ford sold it at auction before anyone can see the damages. Ford has not pictures of odometer or damage just paperwork. So insurance wont pay without seeing it.

[Theatrix]

us miss read me. Yes it was sent to fraud and not paid on the theft. But the truck was recovered and ford got it back. So the insurance company wouldnt have to pay on the theft.

Ford is saying it was over the miles which it was close when it was stolen. Also ford said it has damages to it. So my collision coverage would cover that but ford sold it at auction before anyone can see the damages. Ford has not pictures of odometer or damage just paperwork. So insurance wont pay without seeing it.

Got it. So you satisfied the lease obligation. Once it gets to the fraud unit, all bets are off until they have resolved their concerns. If this dragged on for months, Ford would have gotten anxious and perhaps within their right to midigate loss. In other words, if they felt they would not recover from the insurance company within reason, they always had you.
So it has gone beyond the talking stage and sent to collections. Once collections is done with it (Read Fair credit act), it will go to legal. You may have one more opportunity then to negotiate. If you agree with the settlement, don't renege. Legal will get a judgement fast. That will stick with you for 20 years. Find a way to negotiate down by using the findings from your Insurance fraud unit. If they concluded that it was not fraud, but hesitated in settleing on the collision coverage, you may have some leverage. If it was fraud, you are screwed, pay and move on.