I have insurance claims checks for a vehicle i sold?

Question

i was in an accadent that the insurance said i was 50% at fault. they issued me a check for the repaires minus my deductable. the check was made out to me and my lean holder. i didnt have the money to pay my deductable and the car was still driveable so i never got it fixed. i have recently sold my car. now i have a check made out to me and the bank that no longer holds the loan. will the bank cash the check

Answer 1

Yes, they would.

Answer 2

If you do not have a lien against the car the bank will sign over the check to you. If you do owe the bank for the car then you will not get the money.

Answer 3

As long as the loan has been paid off, the bank doesn't care.

If there were no agreements made between you and the buyer about repairs on the vehicle, the money is yours.

If the checks are made to you and the bank, as long as loan has been satisfied, take the checks to the bank, and have them cash the checks for you.

Answer 4

As long as your loan is paid off, the bank will sign off on the check, and you can do whatever you want with the money.

If you still owe the bank any money, though, they'll take that check and apply it against your loan.