What if the lienholder is not included in insurance check?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Thu Feb 18, 2010 1:11 pm   Post subject:   

Quote:
do i need to contact my insurance and let the file or do i just need to contact the persons insurance
If the other 'at fault' party's carrier is handling it..then you don't need to file a 'claim' wouldn't hurt to let your agent know though that it happened, in case you do have to come back to your own coverage...
Quote:
i am still paying for my car therefore, who will the check be mailed to if i contact his insurance.

_________________
Quote:
The check may come to you, but it will have you and your lein holders name on it
.Trench made a mistake in his answer..(read it again Trench he asked if the the other guys carrier pays)...if YOUR carrier pays, it will include your leinholder and/or a shop..if the other (third party) carrier handles the damage the payment can be made to you ONLY.


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.92 Dollars($)

PostPosted: Thu Feb 18, 2010 2:35 pm   Post subject:   

Quote:
Trench made a mistake in his answer..(read it again Trench he asked if the the other guys carrier pays)...




No, I was commenting if he decides to use his own carrier. He said "if I contact his insurance", I neglected to put that in my reply. Sorry.
Trench
Senior member
Leave a quick message



Joined: 16 Sep 2009
Posts: 908

Location: Kansas City
152.85 Dollars($)

PostPosted: Wed Mar 17, 2010 1:14 am   Post subject: BS that insurance check includes lien holder.  

Some how the insurance companies have misled the nation's people and suckered you all, and all the insurance company employees think it is correct just because they are told that is what they are suppose to do, and have been doing. It is not correct! It is not right! I also bet that it can be found to be an illegal practice.

Just because they are doing it does not mean it is legally correct. It is not, but some how the insurance companies are getting away with it.

Some attorneys need to get on this and force some changes in this insurance check payment practice. It is absolutely wrong to include any other entity name other than the owner/policy holder.

Yes, the vehicle is collateral for your loan you have on your vehicle, but you are the owner, and the owner is not the lien holder.

When the vehicle gets damaged, the check payment must be paid to the owner of the vehicle, and my assumption here is that the owner is also the policyholder.

It is the owner's responsibility and choice to maintain the vehicle, and it is none of the business of the insurance company, or at least should NOT be any of the insurance company's business on what you decide to do about the damage. Absolute BS that the insurance company includes the lien holder’s name on the check. Absurd! When the hell did this practice begin? Absolute rip-off by insurance companies. The insurance company is suppose to pay you, and if you fix it, then great. If that area gets damaged again after it got fixed, then they have to pay you again. If you did not fix it, then the insurance company does not and should not pay you again for the same damage, but only for the repair costs minus the portion of the previous damage. However, I have found out that some insurance companies cheat by double dipping when there is prior damage. In other words they cheat by taking out extra deductible. That is a separate topic, and I will not get into it here.


_________________
Register Now to have your Insurance queries solved.
anon1
Guest







PostPosted: Wed Mar 17, 2010 1:59 am   Post subject:   

Quote:
It is absolutely wrong to include any other entity name other than the owner/policy holder.
Quote:
When the vehicle gets damaged, the check payment must be paid to the owner of the vehicle, and my assumption here is that the owner is also the policyholder.
Quote:
It is the owner's responsibility and choice to maintain the vehicle, and it is none of the business of the insurance company, or at least should NOT be any of the insurance company's business on what you decide to do about the damage.
Here is the thing... and I'll try to say this a polity as possible... you are 100% incorrect, you could not be more incorrect and it's obvious that you don't have a single clue about what you are talking about. What makes it worse... is that you _act_ like you know what you are talking about!



When a lien holder gives constructive notice to an insurance company that the lien on the vehicle has been perfected, the insurance company is _required by law_ to protect that creditors interest in the vehicle. This applies to the over-all condition of the vehicle as well as the payment of the lien itself.



Quote:
Absolute rip-off by insurance companies.
Yes because we all understand how an insurance benefits from putting a lien holder on a check. Get a clue... it's not done to use up excessive ink.

Quote:
However, I have found out that some insurance companies cheat by double dipping when there is prior damage. In other words they cheat by taking out extra deductible. That is a separate topic, and I will not get into it here
That's good..... stick to one idiotic statement per day.
tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 5981

Location: Salt Lake City, UT
358.91 Dollars($)

PostPosted: Wed Mar 17, 2010 11:28 am   Post subject:   

anon1 ---- would you do one thing for me? define the word 'lein'.............. Rolling Eyes then add the word 'holder' to that......ok, is it getting in? no? well it was worth a shot...



As Tcope, explained, very nicely I might add Wink You haven't got the slightest idea what you're talking about....Since you know so much more than all the lein holders and insurance companys (and their lawyers) in the world. Why don't you take up this case for the masses? Get you an attorney, and get a class action suit started....what's that? no attorney will take it? hmmmmmmmmmm wonder why? Rolling Eyes



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.92 Dollars($)

PostPosted: Wed Mar 17, 2010 11:55 am   Post subject:   

Quote:
Some how the insurance companies have misled the nation's people and suckered you all, and all the insurance company employees think it is correct just because they are told that is what they are suppose to do, and have been doing. It is not correct! It is not right! I also bet that it can be found to be an illegal practice.

Just because they are doing it does not mean it is legally correct. It is not, but some how the insurance companies are getting away with it.

Some attorneys need to get on this and force some changes in this insurance check payment practice. It is absolutely wrong to include any other entity name other than the owner/policy holder.

Yes, the vehicle is collateral for your loan you have on your vehicle, but you are the owner, and the owner is not the lien holder.

When the vehicle gets damaged, the check payment must be paid to the owner of the vehicle, and my assumption here is that the owner is also the policyholder.

It is the owner's responsibility and choice to maintain the vehicle, and it is none of the business of the insurance company, or at least should NOT be any of the insurance company's business on what you decide to do about the damage. Absolute BS that the insurance company includes the lien holder’s name on the check. Absurd! When the hell did this practice begin? Absolute rip-off by insurance companies. The insurance company is suppose to pay you, and if you fix it, then great. If that area gets damaged again after it got fixed, then they have to pay you again. If you did not fix it, then the insurance company does not and should not pay you again for the same damage, but only for the repair costs minus the portion of the previous damage. However, I have found out that some insurance companies cheat by double dipping when there is prior damage. In other words they cheat by taking out extra deductible. That is a separate topic, and I will not get into it here.




Shocked
Trench
Senior member
Leave a quick message



Joined: 16 Sep 2009
Posts: 908

Location: Kansas City
152.85 Dollars($)

PostPosted: Sat Apr 24, 2010 3:06 am   Post subject: car accident  

i had a car loan and then i was in a accident that ruined my trunk area ... the insurance who caused the accident payed me a check , NOT MY LIENHOLDER, in whicj i spent on bills and such things. IN the mean time my car was repod from the body shop !!! Sad now the lien holder is threatening to get me for theft / fraud !!! because i spent the check and never fixed the car !! is this civil or criminal !!! whos to say ??? please help !!


_________________
Register Now to have your Insurance queries solved.
sizzle87
Guest







PostPosted: Sat Apr 24, 2010 11:35 am   Post subject:   

Quote:
the insurance who caused the accident payed me a check , NOT MY LIENHOLDER,
In a third party accident (other guy's ins not yours)..that carrier is under no obligation to protect your lein holder (in your case too bad)...so the draft was made payable to you and you alone.
Quote:
is this civil or criminal !!! whos to say ??? please help !!
Ins fraud is criminal, but your lein holder cannot press those charges and the ins company won't because to them it was not fraud. Unless your loan contract said something about spending the money on the repairs, I doubt your lein holder can do anything about the insurance thing.



You've made some REALLY poor choices, defaulting on your note, taking the repair money, blowing it and leaving your wrecked car at the shop for them to deal with......nice....



So now you owe your original note, whatever the shop charged. They won't get anything to speak of for your car (proably the tow and storage charges) so you end up oweing for a car you don't have your credit is shot. But I doubt your concerned at all with all of this.



So back to your request for help...you will most likely get a judgement entered against you, maybe your wages garnished. Again, doubtful on the fraud side. My advise to you? Chalk it up as a life lesson, work out a payment plan with your lein holder, and then actually pay it...and start putting your life back together...find some integrity, and do the right thing.....do I think you'll listen to me? nope


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.92 Dollars($)

PostPosted: Tue Oct 12, 2010 10:08 pm   Post subject: check  

THE INS. COMPANY GAVE ME MY SETTLEMENT CHECK BUT THEY PUT TWO OTHER LIEN HOLDERS ON IT. BUT THEY WAS NOT TO BE ON IT AND THEY INS, COMPANY DON'T WANT TO TAKE THEM OFF TOP . I'M AT THE BOTTOM OF THE CHECK! THIS IS A 3RD PART CHECK! NEED HELP.


_________________
Register Now to have your Insurance queries solved.
FAITH HOPE
Guest







PostPosted: Tue Oct 12, 2010 11:33 pm   Post subject:   

First... STOP YELLING!!!!



Second... are their 2 liens on the vehicle? If so, the insurance company is correct. If not, provide the insurance company proof that those lien(s) no longer exist and they should take them off as needed.



Third, see my sig.



_________________

- If you did not start the original thread and have a new question... START A NEW THREAD!
tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 5981

Location: Salt Lake City, UT
358.91 Dollars($)

PostPosted: Thu Nov 04, 2010 2:29 pm   Post subject:   

Hey Everyone,



My truck was declared a total loss due to an accident. I still owe on the truck loan but my truck is not worth as much as i still owe on the loan. I do have gap insurance though. My questions are:



1. If the check is made out to me then can i cash it and use some money for bills? (I will pay off the amount of the loan when i get my income tax check back).I just need the money now. (Being on a monthly income now is hard to adjust)



2. Is it against the law to do that? I live in Penna. If it is then i wont do that.



3.How does the gap insurance work? Does that company make out a check to me?



Thank you for your help in advance.


_________________
Register Now to have your Insurance queries solved.
smit
Guest







PostPosted: Thu Nov 04, 2010 2:42 pm   Post subject:   

Hey Everyone,



My truck was declared a total loss due to an accident. I still owe on the truck loan but my truck is not worth as much as i still owe on the loan. I do have gap insurance though. My questions are:



1. If the check is made out to me then can i cash it and use some money for bills?( I will pay off the amount of the loan when i get my income tax check back.) I just need the money now. Being on a monthly income now is hard to adjust to.



2. Is it against the law to do that? I live in Penna. If it is then i won't do that.



3. How does the gap insurance work? Does that company make out a check to me and i forward it to the financial institution?



Thank you for your help in advance

smit2999
New member
Leave a quick message



Joined: 04 Nov 2010
Posts: 1


1.24 Dollars($)

PostPosted: Thu Nov 04, 2010 3:01 pm   Post subject:   

The insurance claim check, if made out to you and not to you and your lender is between you and the insurance company. It should have been made out to your lender as the loss payee.



If you choose to use the money for something other than paying off the note on the truck, that's your choice, and it is not unlawful. But you may soon discover that since the insurance has been canceled on the vehicle, your lender is going to "insure" it with coverage that is VERY EXPENSIVE and will be added to the loan balance. No escape from that, until you tell them that the vehicle has been totaled . . . in which case they will rely on the "acceleration clause" in your loan contract and demand that you pay the full balance of the note IMMEDIATELY.



Failure to pay is a BREACH OF CONTRACT for which you may be sued in civil court.



GAP ("Guaranteed Auto Protection") payments are also supposed to be made payable to the lender. Understand that GAP coverage, in combination with your collision coverage, may still not be sufficient to cover the full balance of your note.



You would be wise to use the AUTO INSURANCE money to pay-off the loan on the vehicle, as it was intended to do, instead of using the money for "other" bills/expenses/pleasures.



_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7279
Highets Points
Location: Pomona CA
56.17 Dollars($)

PostPosted: Thu Nov 04, 2010 5:23 pm   Post subject:   

I'm guessing that the check has not been made out to just you... as then the insurance company would still be on the hook to the LH, your GAP carrier would never pay the difference and the insurance company would not get the title to the vehicle.



So I just don't see this happening.



You want to take the money owed to your LH and spend it on yourself? I'm wondering why you are upside down on your loan. Rolling Eyes

tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 5981

Location: Salt Lake City, UT
358.91 Dollars($)

PostPosted: Mon Nov 08, 2010 12:36 pm   Post subject: Payment to me only  

I am wanting the insurance to pay me the amount so I can fix it. Had some trouble with getting my last car fixed. Other than paint work I can do it all. My insurance will release to me and bank only. Leinholder will release money to party fixing my car. Is there a way I can get the payment? Any rights?


_________________
Register Now to have your Insurance queries solved.
kystormchaser13
Guest







Quick Reply
Your Name
Subject
Message body
All times are GMT
 Previous  1, 2, 3, 4, 5, 6  Next  
Page 3 of 6


Get free auto insurance quote
State Auto Insurance Laws in USA

USA Auto Insurance laws
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.217 seconds.