Solutions
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13696662's post in "CRITICAL ERROR DURING MAINLOOP" crashes LCPDFR ? was marked as the answerIssue resolved! request to close thread!
Resolved:
Permissions settings error.
Permissions in the directory of STEAM needs also to be set to allow from read only.
If running steam, be sure the directory out of " steamapps " (" grandtheftautoIV ") is not read only.
I made the mistake of changing just the directory - steamapps -> grandtheftautoIV -> GTAIV*
Once this was adjusted i was able to play the game non stop with no crashes or bugs!
Sorry to bother, hope this helps users!