Why would I hand over my title before I receive my settlement funds?

[adjusterjack]

The bank insisted they would not cash an insurance check.

Banks don't cash large third party checks. They all require you to deposit the check and then, according to federal banking law, they are allowed to release a small amount immediately, then the funds are on hold and released in increments until the check clears. This has nothing to do with the check coming from an insurance company. It could come from anywhere.

You're in a snit about something that happened with your insurance company and you got a manager to accommodate you. That's fine. But that's not reality. Though I suppose you'll never be convinced of that.

 

[JULIE667]

Again, I worked in a bank for 15 years.This was not a third party check. It was in the bank it was written on, the bank of account. They said they would not cash it because it was an insurance check. I'm in a snit because it is an over reach to believe any individual should give any other individual any item, especially one worth over $10,00.00, without receiving payment first. They wouldn't do it for me at a dealership. Why should I be expected to release my vehicle that way. It's that simple. No emotion involved in that.Just common sense.

 

[adjusterjack]

Whatever.

 

[Change Request]

Read Delay, Deny, Defend by Jay Feinmann and you will see exactly what happened to you. Insurance companies are only interested in saving money and just want you to "play along or else".

 

[bery farnandas]

That's not how it works with insurance claims.

You hand over the title and you get your money. Don't fight it, you won't win.



What does that have to do with the damage to your car?

LOL