Legal Question in Credit and Debt Law in Massachusetts

credit card company issued check for credit

I have a question about a check I recieved from my credit card company. In Mid-August my credit card company mis-read a check I sent them for the amount of $1054 as $7054. I immediately notified them of this error, and they credited back $7054 to my checking account. At this time I was told since I had a 0 balance that that check would be destroyed. The next day $1054 was taken from my checking account. I have called the credit card company for the past 5 weeks and re-explane the situation. At the present tim3e they have not take back their $7054, or added in the $1054. I called to receive a check in the amount of what I should get back(around $700) assuming they would catch their mistake and take out the $7054. I was told that they were investigating the matter and it would take 6-8 weeks before they could do anything, and I received a letter to that effect. Today I received a check for around $7000. What should I do? I assume I can't cash the check because they will realize what they did. Is there a statute that would allow me to keep this money if they--name removed--t come back for it after so many days? Any advice would be appreciated.

Thanks


Asked on 9/16/00, 5:27 pm

1 Answer from Attorneys
Stuart Williams

Re: credit card company issued check for credit

Wow. Well, a month after the fact, this probably has been resolved, but if not, I'd like to go over some of the facts with you. There are parts of your story that are not clear.

1. If they cashed a check for $7054 instead of 1054, don't you think they should have credited back to your account somehow the difference of $6,000, not the full $7054?

2. If the WORDS said "one thousand [etc.]" then your bank was responsible to get back the $6,000 difference however they could and to credit your bank account with $6,000; the words win out over the numbers where they differ. Did you write out the check used yourself?

3. Is the credit card company the same as your bank?

4. Why did you get a check for "around $7000"? How much exactly was it for and why?

5. Always cash a check when you get it. But don't dream that you'll get to keep something you shouldn't because of a statute of limitations. (Contract statutes of limitations in Mass. start at 6 years. Unjust enrichment is a claim in equity which is not necessarily bound by even that statute of limitations. Criminal fraud has an even shorter statute, but could potentially cost you more in legal defense bills even though you probably didn't trick anyone into making any mistakes!) But there might be a way to sit quietly and safely ... we'd ought to discuss it if they haven't realized their mistake.

6. Why $700? Where did that figure come from?

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Answered on 10/18/00, 12:26 am


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