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Motorcycle/Vehicle Unsettled Loan

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1 Motorcycle/Vehicle Unsettled Loan on Tue Nov 04, 2014 12:51 am


Arresto Menor

I would really appreciate if anyone here could help me. I bought a motorcycle at Motor Trade through  bank financing. I opted to pay it in a (3) three year contract. I had already paid 70,000 Php when i got involved into car accident. A mitsubishi sedan crashed and hit me when i was about to park on the sidewalk sending me to the hospital and my motorcycle to the impounding center. I couldn't pay the monthly amortization of the motorcycle because i had to use the money to pay for my hospital bill. I got discharged from the hospital and after 6 months i told Motor Trade about what happened. They said they would get the motorcycle from the impounding center. Since then I've never received any call or at least get me informed about the status. Weeks after i got a letter from the bank saying they have filed a case against me due to failure to settle the dues of the motorcycle, a clerk from the regional trial court have already visited and told me to respond. I'm confused why motor trade didn't inform the bank about the accident, i thought i don't have to pay the unpaid dues because they said they will get it from the impounding center. I really don't know what to do and what my rights are. Please i need help....

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