Cheque bounced 8 years ago, is a reissue possible?

KaMaHu

Asking on behalf of a friend:-

in 2009 a friend of mine cashed in a life insurance policy and received a cheque for 25k. He didn't present it to the bank until 2010. The cheque was bounced, I'm assuming because it wasn't presented within 6 months of issue. He took no further action, but has still got the cheque .
He has asked me to act on his behalf to get the cheque reissued. I'm concerned that this won't be possible because of the 6 year cheque expiry rule. Are there any examples of cheques being reissued in similar circumstances?

Many thanks for all advice.

dunstonh

What does the insurance company say when he asks them?

[Deleted User]

What have the insurance company said?

jennyjj

KaMaHu wrote: »

Asking on behalf of a friend:-

in 2009 a friend of mine cashed in a life insurance policy and received a cheque for 25k. He didn't present it to the bank until 2010. The cheque was bounced, I'm assuming because it wasn't presented within 6 months of issue. He took no further action, but has still got the cheque .
He has asked me to act on his behalf to get the cheque reissued. I'm concerned that this won't be possible because of the 6 year cheque expiry rule. Are there any examples of cheques being reissued in similar circumstances?

Many thanks for all advice.

It certainly won't cost £25k to go to the issuer and ask for a reissue. Just explain the situation. don't fixate on cheque rules, which are neither here nor there.
He will probably get the runaround a little in trying to track the funds, which will probably be skulking in a general holding or dormant account. Just jump through the requisite hoops and expect to eventually see be reunited with the funds.
BUT DO IT NOW! There is no embarrassment involved. JUST JFDI.
Worst case, he has already lost and will lose no more than the odd postage stamp or phone call cost.

When he gets the money, have him contact me so he can send me my commission :beer::)

Brynsam

Ever thought of asking the insurer, as several other posts have suggested? They still owe him the money - maybe a bank transfer this time might be more successful.

DigForVictory

These webchat thingummies spare you even the cost of a phone call or stamp.

I'll hope the money is sat in a to-be-left-til-called-for account, but ye gods to let £25K snooze for 8 years? I'm afraid my speculation is not fit for a family friendly forum. Auditor pals would blink at leaving that kind of Schrodinger's debit without a custom account for the 'erratic' clients.

Oh aye & once he gets the money, he's a bit of explaining to do to the Revenue.

DCFC79

Brynsam wrote: »

Ever thought of asking the insurer, as several other posts have suggested? They still owe him the money - maybe a bank transfer this time might be more successful.

So many threads could be sorted/no need to be posted if the OP were to contact said company.

KaMaHu

Yes, of course asking the company is the first step. I was just wondering if anyone had any advice or had experience of recovering similar sums.

Thanks for the advice everyone.

KaMaHu

KaMaHu

Thanks Jennyjj,

Very helpful advice.

KaMaHu

gardner1

Your friend either has more money than sense,is stupid or this is a windup

[Deleted User]

KaMaHu wrote: »

Yes, of course asking the company is the first step.

Second step, anyway.