Posted December 28, 2020
GAP Provider Liability Realignment
First Chicago Insurance had deemed our client’s 2011 Ford F150 a Total Loss and offered him a settlement of $9,566.31. The First Chicago settlement pass through GAP Provider deductions left our client with a $847.00 lagging balance with their lender after the GAP Benefit payment.
We successfully settled the claim for $12,218.75. The revised settlement satisfied our client’s $847.00 liability and reduced the GAP Provider liability $1,206.16 or 63.1%.
Net settlement increase was $2,652.44 or 27.7%