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Infolawyer, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 6570
Experience:  Licensed attorney helping individuals and businesses.
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I recently sold my boat which still had a loan on it. The

Customer Question

I recently sold my boat which still had a loan on it. The Purchasers bank sent a cashiers check to US Bank Lien holder on the boat to pay it off. US Bank has signed off on the titles and have mailed them to me. I signed the titles over to the bank of the new purchasers. Since this has happened US Bank is coming back to me to make my payments on the loan. The reason for this is because they sent the cashiers check thru the system for payment. The issuing bank refused payment of the check since US Bank did not endorse the back of the check. So why is it my problem that a financial institution cant follow the rules and properly endorse a check to get payment.
Do I have an recourse against US Bank? They are also saying they will turn me into the credit bureau if I dont make my next payment before Aug. 6th.
Submitted: 2 months ago.
Category: Consumer Protection Law
Expert:  Alex J. Esq. replied 2 months ago.

Hello. My name is Alex.
Thank you for your question.
I will be happy to provide you with information you are seeking for educational purposes only.

Can you clarify, as to why another check to pay off the lien cannot be issued and properly endorsed by the US Bank?

Was the check sent issued to your name from the buyer's bank?

Please provide me with more details so I can better understand this situation.

Thank you.

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