Deposit Your Settlement Check Into Bank or Cash It? NY Medical Malpractice Attorney Oginski Explains

Deposit Your Settlement Check Into Bank or Cash It?
NY Medical Malpractice Attorney Oginski Explains
http://www.oginski-law.com/blog/wheres-my-damn-money-client-wants-to-know.cfm

516-487-8207
Email: Gerry@Oginski-Law.com

When I hand over your settlement check, I tell you to “Take this check to your bank and deposit it. Then you can do anything you want with it.”

Why is it that some injured victims who receive money for their injuries don't want to go to a bank, and instead go straight to a check cashing facility to cash out their check?

Some of them want their cash immediately.
Some have bills to pay immediately.

What happened if the settlement check is hundreds of thousands of dollars or maybe more?

Do you think a check-cashing facility has that kind of cash on hand?

More importantly, do you think, from a security standpoint, a check cashing facility would eagerly give you a large suitcase filled with cash in order to cash out your settlement check?

The bigger question I have is why would an injured victim pay a check cashing fee to get their cash when they can deposit their check into a bank and take out their money a few days later without any fee whatsoever?

It makes no sense.

For example, if your settlement check is payable from Citibank, you could take your settlement check, go to Citibank, open up an account and your funds should be available immediately.

That means you wouldn't have to pay any fee in order to cash out your settlement check.

If you were to take your check and deposit it in a different bank or open up a new account with a different bank, it would likely take only a few days for your check to clear.

Then, you can do whatever you wish with your money, assuming of course you are an adult.

In cases involving children and those who have not yet reached the age of majority, the court determines exactly where the settlement money must go.

Watch the video to learn more...

Here's a cardiac malpractice case where I was able to achieve a $6 million dollar settlement for my client: http://www.oginski-law.com/video/cardiac-malpractice-in-ny.cfm

Here's a foot surgery case where a Westchester, NY jury awarded my client $1.55 million dollars for her pain and suffering: http://ow.ly/azKg6

To learn more about how medical malpractice cases work in the state of New York, I encourage you to explore my educational website, ‪http://www.oginski-law.com/blog/wheres-my-damn-money-client-wants-to-know.cfm‬.

If you have legal questions, I invite you to pick up the phone and call me at 516-487-8207 or by email at Gerry@Oginski-Law.com. This is what I do every day and I'd be happy to chat with you.

Law Office of Gerald Oginski
25 Great Neck Road, Ste. 4
Great Neck, NY 11021
516-487-8207

Email: Gerry@Oginski-Law.com

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