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Thread: Metlife

  1. Join Date
    Jan 2009
    Location
    Southaven, Mississippi
    Posts
    808

    Metlife

    I don't usually do much work involving Metlife but have had three jobs here recently involving them. I have discovered that, despite these vehicles having lien holders, they always issue payment soley to the insured and made payable to only the insured. I have challenged them on how they live up to their obligation to the lien holder to ensure the value of the collateral has not been compromised by issuing payment that requires the endorsement of either the lien holder or the shop and why they want to beat their chest over rental bills because I will not release the vehicle until ALL payments are in hand. I am also understanding that their payments are issued from India. So, heads up to anyone dealing with Metlife. It's just a matter of time before an insured gets their hands on a check and spends it on something other than repairs.

  2. Join Date
    Jan 2009
    Location
    Joplin MOzzuri
    Posts
    352

    Don't take any Indian Rupees!
    If you can't find the time to do it right, how will you ever find the time to do it over?

  3. Join Date
    Jan 2009
    Posts
    193

    I don't see a problem Bill

    First. The insurer is not obligated to the lien holder unless they (the lienholder) is the one contracting for the insurance. The vehicle owner has already signed a contract with their bank or finance co. to repay the obligation regardless of what state the property is in.
    Second. The same theory applies with you and your customer, they contract for repairs and are obligated to pay regardless of whos name is on what check. A good con artist wouldn't let a little thing like your name on a check get in their way!
    ************************************************** *************
    When some company wants to change my estimate, I tell them there are over four million damaged vehicles I won't repair this year, I'm not going to lose sleep over one more.

  4. Join Date
    Jan 2009
    Location
    Joplin MOzzuri
    Posts
    352

    I thought that it was Erica Eversman said that insurers must name the lien holder on the check to be in compliance with each states uniform commercial code protecting lending institutions?
    If you can't find the time to do it right, how will you ever find the time to do it over?

  5. Join Date
    Jan 2009
    Posts
    193

    Well

    each state has different regs, and then there is the question, "when has any insurance company complied with all the state rules and regs, and faced any real penalties?"

    My point is, who wants a customer wandering in after a job is complete with a lienholder on the check based ten states away? IMHO, you're better off collecting the full amount from the vehicle owner (the only one who owes you)
    ************************************************** *************
    When some company wants to change my estimate, I tell them there are over four million damaged vehicles I won't repair this year, I'm not going to lose sleep over one more.

  6. Join Date
    Jan 2009
    Posts
    182

    I had a nightmare-ish deal happen to me several years ago. Brand new Jetta... The owner (who was an Asian man) hired an atty. Hired a tow truck to drive the car to a few shops for estimates. Chose us. When we got to the end of the large repair the owner was a no show. Found out that the ins co sent the check for the original estimate to the atty in the owner's name only. Called the atty owner had already picked up the check and left the country. I was out about 11 grand at that point. Got the supp chk sent and it was down to 8 I think. Talked to vw credit told them what happened they ran the #'s and said they would come and get it and pay what we were owed. It was 3 or 4 weeks out that they said that they were coming. The day that they were supposed to come they called and said we don't want it, file your leans blah blah blah....I got my money back eventually when I sold it. What a cluster@#$% though. You guys haven't made it as far as you have by not noticing the little red flags that pop up. It's nice to know when rules change in advance though...

  7. Join Date
    Jan 2009
    Location
    Ma.
    Posts
    485

    I once released a car to the owner with a promice from the ins co. to pay.
    They sent the check to the cars owner who prpmptly cashed it and paid his home morgage with it.

    If that wasen't bad enough, he then died!' I happended to mention it to a lawyer that I usually see at breakfast and it turned out he was the administrator of his will.
    To my suprize,I was promptly paid in full.

    It's now, No tickie, No laundry!

    I just explain to the customer, It's not your credit that I am worryed about, it's mine. I need to pay my bills.

  8. Join Date
    Jan 2009
    Posts
    193

    Red Flags

    there are perhaps two or three a day around here. One thing I've noticed of late is the number of people wanting estimates who we've never seen in the past. We are fortunate to have a pretty large base of past customers and their relatives, with the new face usually meaning either a referral, or someone who has been banned from the other shops. LOL!

    Also with "shoppers", we tell them it is a waste of our time and theirs, we expect to be higher than the other shops and if they are looking for the cheapest it will not be us. Actually everyone takes this quite well and a few will opt to leave their car if they have someone taking care of the bill through a liability policy.
    ************************************************** *************
    When some company wants to change my estimate, I tell them there are over four million damaged vehicles I won't repair this year, I'm not going to lose sleep over one more.

  9. Join Date
    Jan 2009
    Location
    Southaven, Mississippi
    Posts
    808

    The whole reason I brought all of this up is because I have had it happen where the bastards get their hands on the check, I have repaired the car and they file bankruptcy, keeping the money and getting their car repaired for free. As far as the regulations are concerned, requiring the insurance company to include any lien holder's name on the check, or the repairing shop, I do know for a fact it is state law in Mississippi for all the reasons we are discussing. If you think about it, until the vehicle is paid off, it actually belongs to the lender, not the person driving it. That's why they have the title.

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