Category Archives: Installment Loans

Brand Brand Brand New Insurance Fraud: Owners Dump Cars Creatively

It once was that People in america adored their automobiles. But tough times that are economic put a stress on the relationship cash-strapped motorists are in possession of making use of their automobiles.

Simply Take, for instance, the sc guy whom early in the day this filed an insurance claim, saying his 2002 Ford F-150 was stolen year. Police quickly discovered it miles that are only his household, engulfed in flames. Detectives could not find any indications of forced entry, exactly what they did discover was that the master had been behind on his re payments, had refinanced the vehicle twice together with lied about any of it whenever expected. A California woman, who was no longer willing to fuel up her 2002 GMC Yukon said it disappeared from the parking lot in a similar incident. Actually, she had arranged to possess it chopped up in Mexico and sold off in components. Then there is the Arizona guy, whom could not pay the re re payments on their 2006 Dodge Charger whom told their child’s boyfriend which he will give them their blessing to marry, in the event that boyfriend would just torch their automobile for the insurance coverage cash.

Theses instances are a few in a pool that is growing of are named “owner give-ups, ” states Frank Scafidi, a spokesman for the nationwide Insurance Crime Bureau. Be it torching, drowning or handing vehicles up to chop stores, more owners are seeking approaches to unload their cars, then filing insurance claims saying they are stolen. In accordance with NICB, such give-ups are up 24 per cent in ’09, when compared with 2008. Claims linked to suspicious car fires and arsons–the most frequent option to be rid of a vehicle–are up 27 per cent when it comes to exact same duration.

Continue reading