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Received check from a frozen account

Asked Mar 12, 2007, 05:32 PM — 10 Answers
My husband has a small trucking business. He received checks from a customer (over $200,000) and when he went to deposit them they came back because the their account was froze. Their bank would not stamp nsf on them because the account was froze so he can not turn them over to the states attorney. The customer resides in a different state which is making this difficult. He has been trying to get the money from them for a month now. He has about another week and will have to close his business if he does not receive the money. Any ideas on what to do with these checks written on an account that has been froze? Thanks for your help

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ScottGem Posts: 57,998, Reputation: 28100
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#11

Mar 13, 2007, 10:45 AM


Ok, so you took out a loan in anticipation of receiving this money from the client. Without the money you can't make the payment on the loan. Have you tried renegotiating with the bank? They gain no advantage in forcing you into bankruptcy. If you explain the situation to them, you may find them willing to work with you. You do have proof that your expected income was default on.
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