A Stolen Check Problem

[Jeremy]

M.D - someone intercepting and stealing your cheque is not your fault and shouldn't be your loss... the sponsor still hasn't paid *you*.

The long and short of it is that the sponsor probably can't be arsed to sort it out / go through their bank's fraud procedure, and so you're out of pocket.

Drop 'em ASAP. And tell us who they are.

(Just as a by the by, my bank manager told me he was loathe to accept US cheques because it's possible for a cheque to be returned unpaid after almost any length of time - it's never fully "cleared").

[M.D]

Originally Posted by Jeremy

my bank manager told me he was loathe to accept US cheques because it's possible for a cheque to be returned unpaid after almost any length of time - it's never fully "cleared".

Jermey,
I have a business account in my bank, my bank manager told me the same when i opened it.
He said:"
It takes for US checks 16 days to 'clear' but i strongly recommend you to wire the money into your account".

[Bill]

I had a few thousand dollars worth of checks stolen from my UPS Store mailbox by one of their employees last year.

It was a huge hassle. I still haven't seen a cent of those stolen checks, despite all kinds of talk by the manager of the store (who was then fired shortly after), various detectives and court types, etc.

The sponsors won't do a thing for you.

That reminds me, I have to make another round of useless phone calls to various court and lawyer bozos. The person who stole the checks is supposed to pay back the stolen money. I might start getting some of it sometime in 2006.

[MrYum]

What a crappy situation M.D.

No way could this be interpreted as your fault. I'd say this falls squarely on the sponsors door step. They haven't paid YOU...they paid some unknown person. As you describe the situation, the delays were also on the sponsor side...again, not your fault at all.

The sponsor should make this right...or they should be outted so others know how they deal with situations like this.

[Bill]

The sponsor won't do anything.

Think about it - if sponsors had to pay for every stolen check, what would keep people from giving a check to someone, saying it was stolen, then demanding a replacement.

My stolen checks were from big name sponsors that I wanted to keep using, so dropping them would only have punished me.

[walrus]

Originally Posted by Bill

The sponsor won't do anything.

The sponser is the only one who can really do anything about it...and they really do have a lot of options at their disposal. If notified early enough they can put a stop payment on the check. As long as the check hasn't cleared the bank, a stop payment can be made without any problems.

Either way thier bank should be willing to work with them to recover the funds.

Originally Posted by Bill

Think about it - if sponsors had to pay for every stolen check, what would keep people from giving a check to someone, saying it was stolen, then demanding a replacement.

Because its called fraud and is quite illegal and carries with it a relatively unpleasant jail term.

Originally Posted by Bill

My stolen checks were from big name sponsors that I wanted to keep using, so dropping them would only have punished me.

They are big name sponsors who will allow money to be stolen out of your pocket. You show much more loyalty to them than they do you.