insurance question
07-31-2008, 01:03 PM
#1
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insurance question
my seats were stolen from my car. A check was made out to me and my lien holder. The lein holder wont issue the check to me but instead will issue to the shop directly, which i dont mind. Why cant they just send the check to me and i can use the money to buy my own seats and soft top..which i know will save me money and use the rest of the money to buy a hardtop to secure my car. does anyone have the same problem with their lien holder holdin on to their check? I just want my check to be honest.. any info on this matter let me hear it. thankz
07-31-2008, 01:36 PM
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I think its because they want a shop to repair it to stock so its worth the same value as before. Their interest is in the value of the car. If you own your car the insurance company cuts you a check to do with as you like. So the only thing i can think of is them not wanting you to save money by buying cheaper seats or only one seat and maybe forgoing a new top and pocketing the money.
If you quit paying them and they had to repo the car they want to get their money back.
If you quit paying them and they had to repo the car they want to get their money back.
07-31-2008, 01:43 PM
#3
so the check was sent directly to the lien holder?
I work at a body shop, and usually when a lien holder is involved, the customer gets the check from the insurance company, but both the lienholder and banks names are on it.
we've actually had customer's that have gotten the check, with the lienholders name on it as well, and deposited that check into their account and then written us, the body shop, a personal check. I'm not sure if they got it stamped by the lienholder or not, or just forged it.
We've also had the customer bring the check in to us, and just sign the back and then "sign" for the leinholder, and we've deposited that check without any problems.
Not sure that I've helped... not saying you should forge anything, but this is my experience in dealing with it at a shop when a lein is involved.
Hope it works out for you... I completely agree with you.
I work at a body shop, and usually when a lien holder is involved, the customer gets the check from the insurance company, but both the lienholder and banks names are on it.
we've actually had customer's that have gotten the check, with the lienholders name on it as well, and deposited that check into their account and then written us, the body shop, a personal check. I'm not sure if they got it stamped by the lienholder or not, or just forged it.
We've also had the customer bring the check in to us, and just sign the back and then "sign" for the leinholder, and we've deposited that check without any problems.
Not sure that I've helped... not saying you should forge anything, but this is my experience in dealing with it at a shop when a lein is involved.
Hope it works out for you... I completely agree with you.
07-31-2008, 04:25 PM
#4
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Let's see: your car is collateral for your loan. You want to know why the lienholder won't let you take the money, not bring your car back to original condition, then potentially default on the loan and leave them with lawn chairs instead of the OEM seats?
07-31-2008, 05:19 PM
#5
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Yea....the lein holder (bank) wants that money paid for the repair of the vehicle, not pocketed.
Typically, repairs need to be complete before the lein holder will endorse the check.
Typically, repairs need to be complete before the lein holder will endorse the check.
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07-31-2008, 08:03 PM
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Sorry to hear about your seats.
This is all normal. It all depends on the leinholder's policies, usually they will want to do a visual inspection on the vehicle to make sure all of the repairs were done properly before signing off on the check.
Monica
This is all normal. It all depends on the leinholder's policies, usually they will want to do a visual inspection on the vehicle to make sure all of the repairs were done properly before signing off on the check.
Monica
08-01-2008, 04:54 AM
#9
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That's insurance fraud when you pocket money awarded from a claim by taking it to be repaired (or repair by yourself) at a place that is cheaper than the original quote.
Judge Judy had a case on TV just the other day just like this.
Judge Judy had a case on TV just the other day just like this.