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What happens if an insurance makes out a check to myself and a bank?
Wiki User
∙ 12y ago
You have had several things happen:
- You bought a car and as is the law requires told the insurance company who was financing it, and probably you have total loss or "gap" coverage
- Then you got into a crash that totaled the car
- The insurance company knows you have to clear your car loan, and because of the coverage type, your bank has to get the money
So you have to take it to your loan officer and get them to use the funds to clear your car loan
You will have to sign the check and the bank will take it and apply to your loan.
Wiki User
∙ 12y ago
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