by salliemae12 » Sat Jul 19, 2008 07:20 pm
My automobile was deemed a total loss on May 16, 2008. The insurance company paid off the car and there is a remaining balance due to me but the insurance company says that they will not release the money to me until they receive the title from the lein holder. The lien holder has sent the insurance company a letter of guarantee of title but they say they (insurance co.) must have the original title. The check was cashed by the lein holder on May, 23, 2008 but they have yet to release the title. Can anyone help me with what options I might have to get the lein holder to release the title since they have already been paid in full almost 60 days ago!
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Posted: Sun Jul 20, 2008 12:24 am Post Subject:
Yes, contact the lein holder, get to the top of the dept that handles this type of thing...Tell them first of all you want to know the hold up on releasing this title, and second of all if they cannot deliver the title into the insurance companies hands within ten days, then you expect them to pay you interest on the balance you have coming to you from the insurance company...60 days and counting..and that you feel they are operating in bad faith, they got their loan paid off, and now are preventing you from collecting what you have coming...Do a little research and find out who is the governing body in your state over banks, savings and loans, or whatever the insitution is that carried this note..and then find out about filing a complaint with them...Also let your lein holder know you are not above getting an attorney to file suit against them thus publizing their ill treatment of their customers....and holding hostage your title after the vehicle has been paid off!
The insurance carrier is doing the absolute right thing, unfortunately for you...but they have to have some leverage, they can't sell your totaled car without the title...
Posted: Mon Jul 21, 2008 06:49 am Post Subject:
The insurance carrier is doing the absolute right thing, unfortunately for you...but they have to have some leverage, they can't sell your totaled car without the title...
And thus the insurance company and also you are stuck with the lien holder. I'm not sure though but you can sue the lien holder in the court, with the paid in full slip as the supportive document.
Posted: Mon Jul 21, 2008 07:02 am Post Subject:
I think what lori has suggested is right, call then up and demand the reason for the delay, and speak directly to the manager of the company.
Posted: Mon Jul 21, 2008 08:18 am Post Subject:
Also let your lein holder know you are not above getting an attorney to file suit against them thus publizing their ill treatment of their customers....and holding hostage your title after the vehicle has been paid off!
Would that really be beneficial!
Don't they know it already?
Posted: Mon Jul 21, 2008 10:10 am Post Subject:
Would that really be beneficial!
Sure it would be beneficial, and maybe the know it maybe they don't...I'm willing to bet that upper management has no clue about the mis handling going on...Don't they know it already?
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