Due to the amount of damage found and to protect your lien holder's interest in your vehicle, we are required to issue a two party payment for this claim. Three options are available for the payment. 1) A two-party payment issued to you, co-payable to the lien holder. 2) A two-party payment issued to you, co-payable to the body shop repairing your vehicle. 3) A payment directly to the shop, just in the shops name. Please call 210-531-8722 or respond to this message with your preference and we will issue payment accordingly. If the payment is to include a shop, please provide their name, address, and phone. If you have satisfied the lien on your vehicle, please reply with an image of your vehicle's clear title or with a letter from your lien holder verifying the lien has been released.
1) because you do not have a lawyer and they can get away with things.
2) because they are only concerned about the other people suing them for not paying off what you owe. the suspicion on their part is that if they pay you all of the cash, you will refuse to then pay off the lienholder or the repair shop they set you up with. That leaves them exposed.
You owe money on that car so the insurance company has to protect the rights of the lien holder/bank. You have to tell the insurer when you bought the coverage that you didn't own that car outright and who held the lien. The car is the collateral and since the insurer is on notice of the lien the insurer has an obligation to protect the lien holder's interest and the collateral. Simply put the bank wants to be sure you repair their car and don't pocket the check.
Advice given in this forum does not create an attorney - client relationship. No advice should be relied on without consulting with a local attorney.
Insurance companies are not your friends and do not wish to have to pay twice in the event that you do not pay the other party.
Dr. Michael G. Sribnick, Esq. personal injury attorney in Charleston and Columbia, S.C.
Michael G. Sribnick, M.D., J.D., LLC
The answer to this question does not establish an attorney/client relationship nor does it constitute legal advice.
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