Need advice on banking situation

vegasisstilldead · Feb 15, 2005

first, i wind up in the middle of a shooting yesterday and today i found out i have been royally shafted. heres the story..
about a week ago i sold a 1998 z3 to raise funds for a down payment on a new(er) car. I sold it to my wifes brother's friend for 9000 (i even gave the a$$hole a great price considering the car only had 60,000 miles on it) and he paid by cashiers check. I deposited the check and my bank gave me access to the funds. I withdrew the money and put it down on the new car and thought all was well...until today anyways....I received a letter from my bank saying the check was no good and my account is negative big time. I am going to see her brother tomorrow and i am going to ring both their necks but i think im screwed here. My question to anyone who knows here is: can i get in criminal trouble for havinga negative balance for a few weeks? its going to take me a few weeks to raise the funds as most of my money is in 1 oz gold bars and some high priced graded baseball cards for personal reasons

.I just dont need the cops showing up at my door with handcuffs for having a negative balance because of a bounced check even though it was not mine.if anybody has any advice or feedback please post away.thanks :hump: :hump: :hump:

Highdaddy · Feb 15, 2005

cops wont be around for a while, just do what you have to do

THawk+ · Feb 15, 2005

I thought a Cashier's Check had to have the funds available before you could get one???????

Dante · Feb 15, 2005

T Hawk said:
I thought a Cashier's Check had to have the funds available before you could get one???????

It does have to have funds avail.. ...he put a

in the post so im sure its a attempt at humor....pretty funny post vegas..

JimFiestSux · Feb 15, 2005

Take it from me "IF" it was a CASHIERS CHECK then its as good as a money order and paid for. Get a lawyer and you can possibly get out of any penalty or if you have a record, prison time. Its their fault for giving you access to the money "UNLESS" your buyer somehow had a phony check which is almost immpossible as a cashiers check but not totally impossible. Go to the bank which this cashiers check was drawn on and BLOW UP AT THE BRANCH MANAGER. He or she will tell you what to do. Sounds fishy to me though, GOOD LUCK.

vegasisstilldead · Feb 15, 2005

unforunately it is no joke. Turns out the cashiers check was somehow tampered with.I have talked with the police about it and was told that nothing can happen to me criminally as i didnt write the check but i can be sued by the bank if i dont repay. the bank has been nice about it and extended me 30 days to rectify and i really cant blame anything on them as they have been veryy accomadating about the situation. The reason why i put the wink after writing about keeping my money in other things is because i find it the least tempting way to save money without pissing it away..I am heading to long island now to straighten this out.will update when i find out anything

blueedwards · Feb 15, 2005

something is very wrong here. a cashier's check, by definition, is as good as gold..assuming the bank is not in a third world country.

you either did not get a cashiers check or your bank is off their nut for telling you the check is no good.

blueedwards · Feb 15, 2005

i just saw your last post...the cashier's check was tampered with?!?! wow. nice frickin' friend of your brother's wife. you may have to go old school and "repossess" the car or at least get someone to scare the sh*t out of the guy.

Journeyman · Feb 15, 2005

I WOULD IMAGINE THE POLICE ALSO INFORMED YOU THAT YOU CAN PRESS CHARGES FOR FRAUD AGAINST YOUR RELATIVE....

THE BANK WILL JUST TRY TO GET THE MONEY BACK BY TAKING YOU TO COURT...I'M NOT SURE HOW THE TAMPERED PART WOULD COME INTO PLAY IF THEY COULD ACTUALLY PROSECUTE YOU...USUALLY WITH BANK ERROR'S IT GOES THRU COURT AND NOT A CRIMINAL MATTER...

I WOULD SCARE THE RELATIVE, TELL HIM THE POLICE ARE AWARE THE CHECK WAS DOCTORED AND ITS UP TO HIM TO FIX IT.

aceduecetrey · Feb 15, 2005

I have news for all of you that I was not aware of until about 2 years ago.......

CASHIERS CHECKS CAN BE CANCELED!

I know this because it has happened to me before and the process is not an easy one, but can be done. That is why most books tell you that if you sends a cashiers check, you can not withdraw funds for sometimes up to 60 days.

I was scammed out of 20k myself and the same guy sent VIP sportsbook a bad check for 40k.

JimFiestSux · Feb 15, 2005

Prison time for someone here. Do yourself a favor and press charges on whoever gave you the check, or you will face time yourself. Trust me I did time to save 2 other people and it wasn't worth it. You did nothing wrong, don't get tied up with prooving your innocence, just press charges for the cash you owe.

JimFiestSux · Feb 15, 2005

How can a cashiers check which is already paid for be cancelled without the original check returned for the cash??? You can't cancel a money order without the money order. Only way a cashiers check can be cancelled is if the check itself is cashed as a cancellation by the purchaser!!!

JimFiestSux · Feb 15, 2005

Journey,

The bank will go after the person cashing the check. He in return will have to press charges against the person who gave him the check. If he doesn't, he has to pay the cash back himself.

aceduecetrey · Feb 15, 2005

JFS- I do not know the process in what has to be done, maybe a book can chime in here and share some details. The guy that did this to me was from California and it was a Bank of America check. If you call the bank and ask them, and you get someone who knows what the heck they are talking about, they will tell you that it can be canceled.

buddyboy · Feb 15, 2005

a real cashiers check will not bounce, a fake one will bounce. It can take anywhere from 2 to 10 days for the bank to catch it.

Best bet is to let the branch manager call the issuing bank for verification that the cashiers check is good b4 depositing.

a lot of the checks issued from offshore that say they are cashiers checks are in fact really bank drafts... very very different than a cashiers check.

big scam right now is people buying used cars with fake cashiers checks.

aceduecetrey · Feb 15, 2005

VIP states that it may take 6 weeks for funds to be available for withdrawel if you deposit via bank check.

Doug · Feb 15, 2005

its going to take me a few weeks to raise the funds as most of my money is in 1 oz gold bars

Why would it take weeks to raise money from gold bullion ? Take the bars, k-rands, Maple leafs, whatever to a coin dealer. They cash "like" gold at low commission. You can buy the bullion back later for nearly the same price unless gold values increase. If spot gold is 500, you'll pay 500, sell at 495, or reasonably close to that. That's a reason to have gold, it's easy to get in/out.

It's different with true numismatic gold, but "junk" gold trades easy.

JimFiestSux · Feb 15, 2005

Will be a first for me on a cancellation of a cashiers check. I deal with Cashiers checks all the time and was told once that you CAN'T cancel a cashiers check without the check being returned. This check is paid for thats why its called a cashiers check. Basically the banks way of saying same as cash. This check had to be duplicated somehow or just a phony. Either way someone will pay for this felony.

JimFiestSux · Feb 15, 2005

And prosecution for a 3rd dgree felony. With a good lawyer maybe reduced with restitution. Otherwise you are looking at a class D or E felony. Also forgeing of an istrument too.

aceduecetrey · Feb 15, 2005

JFS- I had no idea that it was possible either. With so many major transactions requiring a cashiers check (buying a house), I was shocked when I found out the guy canceled the check. I am surprized that more people do not take shots at books with cashiers checks. VIP for instance lets you play with the funds, but you can not withdraw until the check clears.