What happens if checks are stolen

Cashing a stolen check is not a good thing to do, as it is illegal. So, if you get a stolen check by chance, you should not cash it in any way. Cashing a stolen check is considered fraud, so you should only cash those checks which belong to you. So if you want to discover what someone can do with a stolen check? When someone steals your checks, they can intercept mail to mortgage companies or the IRS and cash it themselves. This is an easy way for them to make a lot of money with little effort on their part.

Keep on reading this article in detail. If your check has been stolen by any means, it is essential to take immediate action so that you will not be proved liable for any funds that are illegally taken from your account. Here the question arises, how can any person who has your bank routing number and bank account number take money from your checking account without your signature? The answer is if you write a personal check to someone and provides your name, address, routing number, account number, and phone number, anyone can do a lot of damage to your checking account.

One of the main reasons someone has stolen your check is that you might have an unsecured mailbox. The sooner you contact the bank the better. It has another 3 days to let you know of the results. They have a total of 45 days to complete the investigation. Step 3: Set up a fraud alert with the three credit reporting agencies To further insure that the identity thief hasn't stolen more than your bank account information, set up a fraud alert with the three credit reporting agencies Equifax, Experian, Trans Union.

Thieves do go through garbage and can find your bank and credit card numbers. Discovering you're the victim of check fraud can be an overwhelming experience. If you are one of the unlucky victims, there are steps you can take to rectify the situation.

Your state's law and the bank's terms and conditions will generally determine how long you have to report a stolen check, says Matt Smith, State of Connecticut Department of Banking Director of Government Relations and Consumer Affairs with the State of Connecticut Department of Banking. This rule applies whether the theft is by mail or if you lost your checkbook. Checks are like mini contracts between you and the person to whom you wrote the check. Thus, it's often handled by the courts. You'll want to file a police report immediately.

Diligence is important and you should check your statements immediately. State guidelines may differ slightly in the amount of time allowed and if courts can make exceptions if you waited more than a statement or two to check your account, but fast action is vital to solving these cases.

If your fraud was mail related, submit a complaint to the postal inspector. In alone the U. Postal Service received 60, complaints of mail theft and 2, claims were prosecuted. Eva Velasquez, president and CEO of the ITRC explains, "They can assist you with a plan which includes important steps like reporting the crime to the police as soon as it's discovered and obtaining a copy of your police report.

From there you'll be instructed to send copies of your police report to the check verification companies, merchants and financial institutions. It's extremely important to account for every check made out to a particular business in question and continue to review all your new bank statements to spot any additional instances of check fraud. To avoid serious repercussions, contact your creditors, landlord, or mortgage company immediately if you need an extension on payment.

Since the process to recover your funds can unfortunately be a bit lengthy, if you have good credit, you may want to consider a small personal loan before you miss a payment. Community organizations may be able to help, too.

Consider calling your city and county government's main number and asking for a community resources division. Veterans and military members should also turn to their local VA office. The thief forged the indorsement on the check and then cashed it. What can I do? Don't see what you're looking for? Browse related questions I lost a check written to me.