Hello, last year I cashed a business check at a local cashier near my house. A few weeks after I cashed the check the the owner closed her business. This week I received a letter from a collection agency requesting I pay back the check plus fees because the check eventually bounced and was not paid to the cashier. Am I liable to pay? The collection agency mentioned the UCC and holder in due course. Please help.
Answered on: 5/10/13, 7:54 pm by Daniel Scott
Yes, you are obligated to pay the amount of the check and fees. The collection company may accept a lower settlement amount to close out the debt, but you will have to pay something it you want to resolve the bad check.
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Daniel U. Scott, Esq. 70 Niagara St, Ste. 611 Buffalo, NY 14202► Other answers from this attorney