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skelly151, Lawyer
Category: Legal
Satisfied Customers: 2368
Experience:  Litigation specialist, Probate and Estate law, Collection law, contract disputes, builder issues
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Hello. I closed a bank account and then recieved a Cashiers

Customer Question

Hello. I closed a bank account and then recieved a Cashier's Check from them for $800 by their mistake. I held the check for a while and then took it to the bank to cash it at a time when I really needed the money. They are now contacting me about the money and I have spent some of it. They just left me a voicemail and I haven't spoken with anyone from the bank. I'm not really sure what to do. I know I shouldn't have cashed it in the first place but I really needed the money. How would you suggest that I handle this. Is what I did illegal?
Submitted: 7 years ago.
Category: Legal
Expert:  skelly151 replied 7 years ago.
Since the check was a mistake, they do not need to know that you knew it was wrong. Instead approach them and tell them you dont have the money to completely reimburse them at this time. See if they will take 400. in satisfaction of you giving back the money which was clearly their mistake since it was given as a cashiers check. If they turn that down then offer them 100. per month unitl repaid. They will likely not sue so long as you make the periodic payments and emphasize that it was their mistake and not yours os they have to offer some flexibility.