I got a check for $5,000 from my trading account... I deposited the money into my checking and it cleared the next day.. Now after i withdraw it, my account is negative $5,000 and get a call from the bank saying there was a stop payment on it... If i don't have the money to pay the bank my negative balance what could happen?payment was stopped because i ended up owing the company about $1,000 because i continued trading so they decided to stop payment. am i going to be sent to collections if i dont pay the bank? criminal charges?
You owe the bank $5,000 and the trading company owes you $5,000 unless there was a valid reason to stop the check.
I am a former federal and State prosecutor and now handle criminal defense and personal injury/civil rights cases. Feel free to check out my web site and contact me at (212) 385-8015 or via email at [email protected] The above answer is for informational purposes only and not meant as legal advice.
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