Cashing checks for a "friend"

[cougartex]

Unless it was a very good friend, I would never do it.

[marksiwel]

Unless it was a very good friend, I would never do it.

Even then, I would grab the money my friend had and start a bank account with it under my friends name.
One of my co-workers has a Boyfriend who "doesnt believe in banks" and gets his checks cashed at the Pawn store, we did the math on how long he has been doing this and added what he should make in a lifetime. Losing the 5% the pawn shop takes ends up being Half a Million dollars over a lifetime

[dukalmighty]

I try not to get myself tied up in anothers financial business,if they don't wanta pay the fees to cash a check then they need to get cash from the original party,you see people on court TV all the time cashing checks for friends that they got out of nowhere,and most of the time it's for a large amount and the sender requests they send the xtra back to them in a western union moneygram

[seamusTX]

That's a well-known scam. At least I hope it's well-known. Frequently the scammers pretend to buy horses or horse trailers with fake checks.

There used to be a woman who had a web site called bustedupcowgirl.com who reversed scammed them, but she seems to have dropped offline. Her stories were hilarious.

- Jim

[marksiwel]

anyone want to cash a check for my friend

[drjoker]

It is always difficult when a friend asks you for a loan or some other financial favor. If you don't help, then you're not a good friend. If you do help, then they may not pay back in a timely manner and sour the friendship. What should you do?

I would ask my self, "How much is this friend worth? Meaning, how much money can you afford to GIVE him/her?" For example, instead of letting the friend deposit into my bank account, I'll ask how much the check cashing fee is and pay it for him ONE time. Then, I'll tell him to get their financial stuff together and get a bank account already because I will not making this a habit.

Or if a friend asks for a loan, instead of loaning them the amount they ask for, just GIVE the friend a smaller sum.

[carlson1]

I never loan to friends or family. I give them the money. If it comes back that is a blessing and if does not come back no harm - no foul.

[grumble]

I never loan to friends or family. I give them the money. If it comes back that is a blessing and if does not come back no harm - no foul.

Agreed - It keeps all things in perspective. In today's economy, friends and family can be in a pickle for reasons beyond their control. I'm a huge believer in karma and good/bad juju.

[marksiwel]

Giving people money is great and noble.
Cashing bad/dubious checks can get you in trouble with the law.
Lets keep it in perspective.

[carlson1]

Giving people money is great and noble.
Cashing bad/dubious checks can get you in trouble with the law.
Lets keep it in perspective.

I kept it in perspective. I don't cash checks - I GIVE money to friends and family.