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.
Answer
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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