I have a large settlement check($14,000). Due to a debt problem, I don't have my own account. If I sign it over to a family member to deposit, will that person be held liable for it in any way after it has cleared, and the cash is removed? Also how long will it take(roughly) for the check to clear, so that I can withdraw the amount?
The amount of time a check takes to clear depends on what bank it is drawn on and where that bank is in relation to where it is deposited.
If you have some legal action against you and the check is processed through a relative to aviod detection, that person could be in legal trouble if there were problems with the check clearing. That person would be liable having chosen to allow it go through his/her account.
Open an account of your own to cash the check. If that means paying your legal debt, do so and put this behind you.
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The amount of time a check takes to clear depends on what bank it is drawn on and where that bank is in relation to where it is deposited.
If you have some legal action against you and the check is processed through a relative to aviod detection, that person could be in legal trouble if there were problems with the check clearing. That person would be liable having chosen to allow it go through his/her account.