please help trying to find out who is liable me the or the insurance company
2007-09-13 04:26:25 · 7 answers · asked by day532002 1 in Business & Finance ➔ Personal Finance
Liable for what?
2007-09-13 04:34:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes, it was a confusing question and I have no idea what you're asking. Still, many (or most) states have laws that a bank must release the funds to you after a maximum 5-day hlding period. But if it takes, say, 10 days for the check to bounce, then it is still you who is liable for it.
A check is an agreement between the payor and the payee, as the parties. The bank is only an agent to facilitate the transfer. If the transfer cannot be completed, that is an issue between the parties, not the agent. If a company wrote a check and it bounced, the company will be liable, but you as the payee would have to sue to enforce that liability.
2007-09-13 05:05:10 · answer #2 · answered by Marc X 6 · 0⤊ 0⤋
Are you trying to ask who is responsible if you deposit a check, wait the 5 day waiting period, spend the money, and then the check bounces?
The short answer is YOU. Your bank is going to come after you for the funds.
I assume the check was from an insurance company. Was this a real claim and the insurance company stopped payment? Talk to the insurance company to get it straightened out.
However, if this was one of those "insurance" checks where you get a big check, put it into your bank account, then wire most of the money somewhere and keep a percentage for yourself ... well, you have been scammed and are still responsible to repay the bank.
2007-09-13 04:47:01 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
I'm sorry--your question is not clear. Did you cash a check and have to wait 5 days for it to clear??? Was it an insurance check that was owed to you???
If you cashed a check that you were not supposed to cash, then you are liable.
Please re-ask your question in more clear terminology.
P.S. If the check was due you, and you cashed it, the funds are yours. The insurance company is liable only in that they owed money to you. If their check bounced, they are liable for the amount of the check and any bank fees you were charged.
2007-09-13 04:38:56 · answer #4 · answered by kathleen m 5 · 0⤊ 0⤋
I think you just wasted 5 points because no one will be able to answer that question. Might as well ask Ms. Teen S.C.
2007-09-13 04:35:56 · answer #5 · answered by Fred Head 4 · 0⤊ 0⤋
Your question is completely unintelligible. I think you need to rethink it and then repost.
2007-09-13 04:30:25 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Your question is confusing. What exactly are you asking here?
2007-09-13 04:29:38 · answer #7 · answered by jml167 4 · 0⤊ 0⤋