Auto Insurance Claims: insurance payment for damage, leinholder, finance company

Question
had accident on 110907 in semi truck. first quote was for $21000. after this the insurance comp wanted another quote and i finally received a check for $1200. the check is in my and the finance company's name. the finance comp wants me indorse the check and send it to them and they will reimburse the cost of repairs once i prove the truck is repaired with invoices and pictures. i have the means and knowledge to fix it myself but lack the money to do so. the finance comp has told me through a 3rd party that i MUST take the truck to a repair shop of there approvial.and finance comp rep will not take or return my calls. what are my options

Answer
Hi Charles,

The finance company has a right to be sure the vehicle is properly repaired since they are the leinholder. You will have to have the repairs done at a recognized repair facility. You should chose a repair facility. The call the insurance company to see if they will reissue the check to you and the repair facility. That way you get the check without having to send it to the leinholder. The leinholder is protected since you can not cash the check without giving it to the repair facility after the truck is repaired. If you decide not to do this and want to just send the check to the finance company, you should get they to send you a signed letter stating that they will infact sned you a check for the full amount upon submitting proof of the repairs. I have seen too many situations where the finance company will take the check, apply it to your loan and then refuse to reimburse the vehicle owner.

I hope this helps
Richard Hixenbaugh