If I deposited a check for $3,000 and took the cash but it turned out to be bad, what should I do?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If I deposited a check for $3,000 and took the cash but it turned out to be bad, what should I do?
The account has since been closed and I spent the cash.
Asked on December 21, 2011 under Bankruptcy Law, Minnesota
Answers:
Michael Duffy / Duffy Law, LLC
Answered 12 years ago | Contributor
Be prepared for the bank's collection efforts. You now likely owe the bank $3,000. Failure to repay this will likely lead to fees, fines, interest, negative credit reports, and possibly legal action. I would recommend you repay the money as soon as possible.
If someone sent you a bad check, you should also try to receover against that party. Depending on the reason it was bad and what the check was for, you could have a variety of causes of action.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.