Sorry if this is not the correct forum - I wasn't sure. Couldn't find a similar thread on same.
Basically we have received a cheque from our insurance company in part settlement of a flood claim. This money is for alternative accomodation, work to be done to the house etc.
The cheque is made out in the following names:
e.g. John Smith / AIB Bank
The bank are insisting that this cheque can only be lodged to a loan account with them i.e. to reduce the mortgage.
The Insurance company say that the cheque is made out correctly as AIB bank have an interest in the claim as we have our mortgage with them. They will not re-issue a cheque in our names only.
Does anyone have any ideas on how to get this money lodged so we can access same to pay workmen etc.? Could we take out a personal loan with the bank and then pay using this cheque? There must be an easier way than this?
Would appreciate any advise as need cash!
Thanks
Tommygirl
Basically we have received a cheque from our insurance company in part settlement of a flood claim. This money is for alternative accomodation, work to be done to the house etc.
The cheque is made out in the following names:
e.g. John Smith / AIB Bank
The bank are insisting that this cheque can only be lodged to a loan account with them i.e. to reduce the mortgage.
The Insurance company say that the cheque is made out correctly as AIB bank have an interest in the claim as we have our mortgage with them. They will not re-issue a cheque in our names only.
Does anyone have any ideas on how to get this money lodged so we can access same to pay workmen etc.? Could we take out a personal loan with the bank and then pay using this cheque? There must be an easier way than this?
Would appreciate any advise as need cash!
Thanks
Tommygirl
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