if I owe a bank a large credit card debt and a check from that same bank is issued to me for an item I am selling will the bank take that ch...

Question

if I owe a bank a large credit card debt and a check from that same bank is issued to me for an item I am selling will the bank take that check?

Answer

As a Franchise Attorney I can say the following. The answer is most likely yes. There's no good reason why the bank would not cash the check, as it's issued by them. Whether they may try to offset it against the credit card debt is another matter, but again likely not. Your best course is to go to the branch where the check is issued and cash the check. As long as you have proper i.d. there shouldn't be a problem. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation