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Insurance claim check | who gets surplus of funds?
If you have a lein on your vehicle from a loan company and you receive a claim check in your name and the lein holder name and you fix your vehicle lesser that the amount the check is for do you receive the money that is left from the check?
Well, this is a very interesting situation. Usually, the bank (or the lien holder) will apply the funds to the loan. This might not be fair, but they believe this will protect their interest.
Other banks will work with you and if the car is fixed, allow you to get the money. It really varies from bank to bank. Please see:
Please see: http://www.auto-insurance-claim-advice.com/total-loss-car-loan.html
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