Hey everyone,
Had a vehicle totaled and GEICO has already issued the lienholder payment to Capital One (shows a check number and to IAA). My equity portion to me already came through electronically.
Trying to figure out what to expect on the payoff side:
• How long does it usually take GEICO to pay off Capital One?
• If it’s a paper check through IAA, how long until Capital One actually receives and applies it?
• Does GEICO ever send lienholder payments electronically instead?
Just looking for real timelines on when the loan actually shows paid off/closed.
Thanks.
GEICO total loss – timeline to pay off Capital One
byu/Special-Anxiety-6267 inInsurance
Posted by Special-Anxiety-6267
5 Comments
ask capital one dude no one here can answer this question
depends on the state which IAA is located in. It could be 24~48 hours up to 10 business days.
If you got your check than it was also already sent to Capital One. It will get there about a week from the date it was sent. How long capitol one takes to process it? That I would have no idea.
Call capitol one. If you already got the difference paid, you’re okay.
I would guess that it would take 5-10 business days at the minimum. And yes you are still responsible for making your car payments on time. If there is an overpayment once they receive the payoff amount they can refund you whatever applies.