Ask a Legal Question
  1. #1

    Join Date
    Jul 2008
    Location
    NC
    Posts
    1
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Bank will not release insurance check

    I live in NC, and back in 2006 my car suffered hail damage. At the time I had a lien on the car so when my insurance company made the check, it was made to me and the bank. The bank informed me it would be best if I deposited the check in my savings with a hold on the funds pending repairs. Since then I had paid the car off and now have title in hand, yet the bank will not release the funds until I have the car repaired. Are they allowed to do this even though they no longer have interest in the vehicle? They want repairs first which I can't afford out of pocket.


  2. Registered User Distinguished Colleague

    Join Date
    Mar 2008
    Location
    Salt Lake City, UT
    Posts
    707
    Thanks
    2
    Thanked 93 Times in 93 Posts
    No I dont think so-- They no longer have a interest in the vehicle, I would talk to a manager

  3. #3

    Join Date
    Oct 2003
    Posts
    1,625
    Thanks
    0
    Thanked 73 Times in 73 Posts
    I agree. They can't hold the money and you do not have to repair the vehicle. If they won't budge sue them in small claims.

Log in

Log in