Insurance Claim Check

[MOMof3]

We recently had damage to our property, our fence & roof, in a windstorm. State Farm graciously cut us a check, but our mortgage company-Chase-is listed as payee. My hubby is going to call to see what we are supposed to do as St. Farm says to just contact them. I'm worried since Chase is in our Chp. 13 and being paid through the trustee that they will either refuse to endorse the check, or keep it? We need to repair the fence (it's in our neighbors yard), but we can wait on the roof. Any thoughts as to what Chase will do? The check is for a little over 3K. The roof was only a partial payment, when we get a contractor, they will release the rest of the funds.

Thanks!

[Minnymouth]

hOPE YOU don't have the same problems I had.............mine was with Nat City, though....

Right before my 341 meeting, a storm tore off part of my roof.....
Finally got an adjustor out, the cut me a check and Nat City would not sign it because I was in BK.....

So there I sit with a roof tarped, (for 2 years) till the BK was settled..... in the meantime the Trustee seized my home and sold it (tarped roof and all) and the Trustee took the insurance money to pay to the other creditors..............

When I purchased my home back after the auction from the buyer THEN I had to put a new roof on it at my expense......

Hope Chase doesn't do you dirty like Nat City did me..............

Since you are in a Chapter 13 (I was a 7), I would contact the Trustee, tell him about the damages, that you have received the check and need HIS creditor to sign off so the damages can be repaired......
Let him handle Chase - it's his creditor that getting paid in the Chapter 13. You are doing your part of the DEAL.....

Good luck, keep us posted.....

[Granny]

My mortgage is through Chase and on last month's so politically correct "Account Statement for Informational Purposes Only but if you want to make a payment, use this coupon" statement was a paragraph about this situation. Here is the paragraph:

If you receive or expect to receive an insurance settlement check for damages to your home, please access www.mylossdraft.com for information on the claim process. When prompted, enter PIN Number CH001 to access the Web Site. You may also call the loss draft Dept at 1-866-742-1461 from 8 a.m. to 7 p.m., Eastern Time with any additional questions.

Hope that helps

[Minnymouth]

Granny,
Nat City wouldn't even talk to me about anything while I was in the Bankrutpcy process....
I tried several times to talk to them, and they wouldn't discuss nothing while I was in bankruptcy....
That turned into a major problem......

[Granny]

Minny,

Chase's wouldn't talk to me initially either, but after the 341 or the claims bar date (I don't remember which) they were willing to talk to me. But now, the monthly statement indicates that if I have any questions, I can call a special number to get to the bankruptcy specialist dept. Guess each one if different.

I would think that in the case of a claim, where the check is payable to both the insured/borrower and the mortgage co., they would have to talk with the borrower.

I was just passing along what Chase indicated on my monthly statement since the OP indicated that their check is payable to Chase.

[clarkmommy]

Look on line, they should have an insurance division that handles insurance claims. Our mortgage is through Homecomings, in August when we had our damages we were in discharge (Chap 7) but not case not closed. Mortgage has not been reaffirmed. Our insurance claim ended up being just over 30K. We went straight to their insurance division, and they said as long as we were not 30 days past due we didn't have anything to worry about. Should the claim be less than 10K, they would just sign the check over to us. Since our claim was WAY more than that they had to do a monitored dispursement where they cut us checks in 1/3's for the damage and they have the repairs inspected at 40% and 70% complete. We have recieved our first check to start repairs, another check for the personal property damage, and the second major check is scheduled to be delivered this week.

The insurance department was listed on the back of our bill with all of their customer service contact numbers.

Good Luck. The whole process since the tree fell on our house has been so stressful. They just finished putting on the new roof today.

Ruth