|
 |
Home >> Checks/Money Orders >> Checks You Wrote
You Still Owe
My landlord generally takes one or two months to cash my monthly rent check, but now he's taking even longer. One of checks is more than six months old. If the bank refuses to pay the check, because he lets it sit for too long, do I still owe him money?
|
Untitled
|
 Yes, you still owe the money. What you need to do is ensure you always have money for those checks in your account, so don't spend it twice. You spent it once when you wrote your rent check. Leave it for that.
Next, tell your landlord that your bank may reserve the right to not pay a stale dated check, if that is indeed true. Checks are stale at six months. If your landlord deposited a stale-dated check and that check was returned because it was old, he may be charged a fee for the reversal. You wouldn't be liable for that as the error was theirs for holding it. If the check was returned because you didn't have funds available, that would be a different issue, so tell your landlord to deposit the checks in a timely manner to avoid fees he may end up paying because he's slow on the collection side.
Published on BankingQuestions.com 3/19/08
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
