AF Wife Mrs Greene Asked: With usaa auto insurance claims if the estimate is over 3000 dollars I recieve a 2 party check..Can
I have hail damage and my estimate is over 4100 dollars. They said i will recieve a two-party check! Will my name be on it and my bank? Can i cash the check myself or does it go to my lender, because i choose direct deposit of the check
Answers:
someone Answered:
NO you cannot.You endorse it and mail it to your lender.They will sent you the money AFTER you have the car repaired or send it directly to the repair shop.
NO you cannot.You endorse it and mail it to your lender.They will sent you the money AFTER you have the car repaired or send it directly to the repair shop.
mbrcatz Answered:
As long as you have a loan on your car, the lender will be listed on the check.The way around that, is to ask them to pay the body shop directly.
As long as you have a loan on your car, the lender will be listed on the check.The way around that, is to ask them to pay the body shop directly.
You cannot cash it, until you've paid off the loan.The whole POINT of having the lender listed on the check, is so that you can't take the money, and leave the car with damage, while the lender still owns part of it.