Originally Posted By 340Cuda
Originally Posted By jcc
Also why checks no longer have a time limit as to when they can be returned, and why you no longer get your original "paid" check back in your monthly statement.

I was a banker most of my life, albeit most of it on the technical side and I don't agree with this. In almost all circumstances banks have very tight deadlines for returning checks.

Anymore almost all checks are held at the point of deposit or even by the depositor. Very few checks make it to the bank on which it is drawn, everything is imaged based. So it is practically impossible to return checks with a statement even if the bank wanted to do so.

Also remember this is a Chapter 11 Bankruptcy (Reorganization), not a Chapter 7 (Liquidation)


They changed the rules years ago, again why you don't get your checks back, and why banks now require so much info on an account holder ( under the cover of fighting terrorism?), because if a claw back occurs, the bank does not want to left with no recourse. You probably have many current banking friends that can verify this, don't think I favor it one bit. I think the general public confuses bank "holds" with checks clearing. Also if fraud is part of the bankruptcy, the 180 day limit is waived till whatever the statue of limitations are for the alleged crime.

Reality check, that half the population is smarter then 50% of the people and it's a constantly contested fact.