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Home >> Checks/Money Orders >> Checks You Received
Inadvertently Cashed Check Meant for University
I unknowingly cashed a student loan check that was supposed to be endorsed by my university, and it wasn't. Funds have been frozen in my account leaving me without a dollar, while the university files an affidavit against the bank to revoke funds and rewrites the check. Who is responsible, and what can I do?
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 It sounds as though you cashed a check that required the university's endorsement, and perhaps the university had intended that they would receive direct benefit of the check. Perhaps you would have instead endorsed the check and they would have deposited it. At the very least, you would have paid them all or a portion of those funds. Otherwise, who is complaining that the endorsement wasn't made?
If the money being held wasn't solely yours to start with, work with the bank and university so that the end result is what should have happened in the first place. If the student loan lender is the one complaining about the missing endorsement, work as expeditiously as you can with the university, so that they can acknowledge this, or have a new check issued, endorsed and then deposited properly with the freeze then released.
Published on BankingQuestions.com 11/06/08
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