cancel check

BU Medical Sciences
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thethethe said:
did anybody cancel their deposit check after sending it in? due to an acceptance to another "tOP" choice school?
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I suppose you could try, but I think it would be pretty immoral. I imagine they cash those things really fast to avoid this very situation.
 
thethethe said:
did anybody cancel their deposit check after sending it in? due to an acceptance to another "tOP" choice school?
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Nah, you won't be able to get away with that. You need to accept their refund (if they offer any), or just eat the deposit.
 
I agree. It sucks to lose the money, but it is a little immoral to cancel the check after you have sent it...
 
i think its a little immoral how these schools have deposits that are thousands of dollars and are nonrefundable. =( especially touro (this is the school i want to cancel) with their 2 week $2000 policy.

what do you mean i wouldn't be able to get away with it?
 
i thought the touro's refunded $1900 out of the $2000 or am i mistaking this school for another one?
 
thethethe said:
i think its a little immoral how these schools have deposits that are thousands of dollars and are nonrefundable. =( especially touro (this is the school i want to cancel) with their 2 week $2000 policy.

what do you mean i wouldn't be able to get away with it?
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You won't be able to get away with it because when you send in the deposit, you send in a sheet of paper that states your intent to attend the university. This is a contract, and your name on this contract guarantees their two grand. If you checked that you are attending, or signed the paper, you have accepted the contract which states that even if you back out, they still get their money. The people who run these schools are smart, and the people they get to write these agreements have 'JD' behind their names ... if it was this easy to just cancel checks, people would do it left and right. It's not even an issue of morals, you just legally won't be able to do it. However, if it's Touro NV, Nevada state law states that you have to refund all of the deposit except for $100, otherwise, it's non-refundable.
 
I don't see anything wrong with it if you can get to it before they cash the check. Say you get accepted to your top choice school the day after you mail the check to a lesser choice. You'd be absolutely stupid to eat that $2000 loss just because the mailman already came. Schools cash those things quick to prevent this from happening.

I can't figure out how it is immoral. The $2000 non-refundable deposit in 2 weeks business is the immoral part of the equation. Its a way for them to make a quick buck and nothing more.

*EDIT: I don't know if the contract you sign at every school is legally binding or not...read the fine print to be sure. I don't remember that part from my DO applications, but its been a couple of years. Would they really come after you?
 
bioteach said:
I don't see anything wrong with it if you can get to it before they cash the check. Say you get accepted to your top choice school the day after you mail the check to a lesser choice. You'd be absolutely stupid to eat that $2000 loss just because the mailman already came. Schools cash those things quick to prevent this from happening.

I can't figure out how it is immoral. The $2000 non-refundable deposit in 2 weeks business is the immoral part of the equation. Its a way for them to make a quick buck and nothing more.

*EDIT: I don't know if the contract you sign at every school is legally binding or not...read the fine print to be sure. I don't remember that part from my DO applications, but its been a couple of years. Would they really come after you?
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I agree. I don't think it's "immoral"...and I also agree it's prob not legally binding, unless there is a clause at the bottom like "**NOTE: Your signing/return of this acceptance signifies an intent to attend, thus requiring you to pay 2k"...or something along those lines. It's by no means 'legally binding' if there is not some sort of rhetoric of this nature. I'd attempt canceling it, too, if I were in your situation. It's 2k...and 2 weeks?! That's insane. I don't see how it's immoral--maybe a little rude but, hey, you're a poor college kid, right? 🙂
 
sigh, what a waste of money...

i'm gonna call the registrar office tomorrow and try to stop the check, i'm pretty sure they are gonna say it's impossible.

edit: i'm just going to cancel the check on my end, if the contract is indeed legally binding, they'll come after me and i'll give them the money. but there is a chance that it isn't, so i can save my money.
 
Hey, I mean try it ... but I'm 95% sure that they have made that piece of paper you have to send in with the check legally binding somehow. I just don't see them loosing out on cash that easily.
 
since canceling a check can be illegal, ill just move the money from my checking account to savings. the check will just bounce and i won't write them a new one.
 
thethethe said:
since canceling a check can be illegal, ill just move the money from my checking account to savings. the check will just bounce and i won't write them a new one.
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This solves nothing. If the contract stood or they were able to sue you for canceling the check in the first place, you'll still owe them.
 
sorrie

i dont understand why these MEDICAL SCHOOLS are out to make a $hitload of money from poor college kids, they should be more understanding.
 
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thethethe said:
i'll just kill myself over $2000, problem solved!

i dont understand why these MEDICAL SCHOOLS are out to make a $hitload of money from poor college kids, they should be more understanding.
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1. Joking about that on SDN is a no, no. They take it seriously. Stop being absurd.

2. No matter how good medicine is, how many people are helped by the training of future physicians, medicine is still a business. These schools are expensive to run, and they need money to secure rotation spots, pay faculty, expand, build new health science programs, etc.
 
Talk about melodramatic. You signed a contract, it is your obligation to keep your end of the bargain. When you don't keep your end, to me it is immoral.

If you think their deposits are ridiculous, take it up with the registrar. The deposit gets deducted from tuition, so you get it back with the first financial aid check. I am still not understanding what the issue is. From what I recall, the TUCOM schools are pretty good about giving you a few more days, and if you were expecting a decision from another school you should have told them you needed a couple more days.
 
Kevon said:
Talk about melodramatic. You signed a contract, it is your obligation to keep your end of the bargain. When you don't keep your end, to me it is immoral.

If you think their deposits are ridiculous, take it up with the registrar. The deposit gets deducted from tuition, so you get it back with the first financial aid check. I am still not understanding what the issue is.
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lol this whole thread went over your head.
 
This is totally ridiculous. So you're basically saying you want to commit check fraud to get out of paying a deposit you are contractually obligated to pay? You do realize that the school you do wind up going to will conduct a criminal background check, right? Check fraud will show up on that background check and you will find yourself dismissed from that school. And every other medical school. Probably forever.

Moreover, you just threatened to kill yourself on SDN (even if it was a joke). So you just gave schools another reason to revoke your acceptance. Mental health is usually on the technical standards for admission to most medical schools. They expect you to be sane and mature. Suicide threats, even if they're done in the spirit of being an emotive drama queen kind of disqualify you.

Nevermind that if you're being sued by an AOA approved school for breach of contract, I'm pretty sure that too is reason to boot you from whatever program you're in.

I suppose if you want to be blacklisted in medicine over $2000, go for it.
 
thethethe said:
since canceling a check can be illegal, ill just move the money from my checking account to savings. the check will just bounce and i won't write them a new one.
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I thought it was also illegal to write a check that you know you don't have sufficient funds to pay for...
 
lol, at least call them tomorrow and ask. THEN eat the deposit when they say no.

p.s. post what happens tomorrow. I really want to know what they say!
 
thethethe said:
ahh i guess i;m just going to eat up the deposit =(
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Sorry, but 2000 bucks buys me a nice vacation in Mexico. If I were in the OP's situation and could find a way around it, I would. I'm a number to these med schools, you think I care what happens to one if I'm attending another?

Read that letter of intent or whatever legalese they sent you carefully. If the deposit refund policy is reasonable, go the legit way. If they don't refund, and you can cancel the check, go ahead and do it, then see what they do. If you can't cancel it without MAJOR repercussions, then move that money out of your checking account and let it bounce. Then see what they do. Basically, you have to weigh the possible monetary cost of the repercussions with your 2000 bucks and let that decide your actions.

My motto:
1. Don't be a *****. (rhymes with wussy)
2. Always look out for #1 (yourself).

And for those of you preaching morals, I disagree. There is the law and there is everything else.
 
thepoopologist said:
Sorry, but 2000 bucks buys me a nice vacation in Mexico. If I were in the OP's situation and could find a way around it, I would. I'm a number to these med schools, you think I care what happens to one if I'm attending another?

Read that letter of intent or whatever legalese they sent you carefully. If the deposit refund policy is reasonable, go the legit way. If they don't refund, and you can cancel the check, go ahead and do it, then see what they do. If you can't cancel it without MAJOR repercussions, then move that money out of your checking account and let it bounce. Then see what they do. Basically, you have to weigh the possible monetary cost of the repercussions with your 2000 bucks and let that decide your actions.

My motto:
1. Don't be a *****. (rhymes with wussy)
2. Always look out for #1 (yourself).

And for those of you preaching morals, I disagree. There is the law and there is everything else.
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To each his own.
 
.
 
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😕If it was mentioned that TU refunds you 1900...why not just eat that 100 for all this trouble?
 
willen101383 said:
😕If it was mentioned that TU refunds you 1900...why not just eat that 100 for all this trouble?
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That is the Touro-NV school, as in Touro-CA and Touro-NY don't do that. I don't think OP specified which of the 3 Touro's he was dealing with.
 
csmittyB said:
That is the Touro-NV school, as in Touro-CA and Touro-NY don't do that. I don't think OP specified which of the 3 Touro's he was dealing with.
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it'd be funny if he was talking about tu-nev the entire time. then this entire thread would have been pointless.
 
It doesn't really matter if you cancel it or bounce it, either way you are breaking the law. A cheque is a bank draft payable on demand. After you put it in the mail, it is no longer your money. If you bounce it, many banks will charge the amount of the cheque plus additional fees. If you cancel it, the school will probably send you a bill, to the effect: pay up or we send you to collections. They probably have an accounts receivable person or an entire department whose sole purpose is to collect money they're due. They would also have every right to sue, depending on how motivated they are.

Definitely, call them and ask for a mutual cancellation or refund. If they haven't cashed it yet they might be lenient. This could save you a lot of headache and possible credit issues. With the volume of money they deal with, I'd bet the institution is much better at collecting money than you are at not paying.
 
TopQuark said:
I'd bet the institution is much better at collecting money than you are at not paying.
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Unless of course you're the second coming of Frank Abagnale. Although, he didn't need to hassle with med school...straight to chief-resident
 
TopQuark said:
It doesn't really matter if you cancel it or bounce it, either way you are breaking the law. A cheque is a bank draft payable on demand. After you put it in the mail, it is no longer your money. If you bounce it, many banks will charge the amount of the cheque plus additional fees. If you cancel it, the school will probably send you a bill, to the effect: pay up or we send you to collections. They probably have an accounts receivable person or an entire department whose sole purpose is to collect money they're due. They would also have every right to sue, depending on how motivated they are.

Definitely, call them and ask for a mutual cancellation or refund. If they haven't cashed it yet they might be lenient. This could save you a lot of headache and possible credit issues. With the volume of money they deal with, I'd bet the institution is much better at collecting money than you are at not paying.
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You sound like you're from London!
 
A contract (in legal terms) must include an offer, acceptance and consideration.

Touro offered you admission. You accepted it and gave condsideration in the amount of $2,000. Unless they are really nice and let you out of it when you call, you've entered into a binding contract and your out $2K. Sorry.


Source: bf is a law student, also: http://consumer-law.lawyers.com/Contract-Basics.html
 
JRjcu08 said:
A contract (in legal terms) must include an offer, acceptance and consideration.

Touro offered you admission. You accepted it and gave condsideration in the amount of $2,000. Unless they are really nice and let you out of it when you call, you've entered into a binding contract and your out $2K. Sorry.


Source: bf is a law student, also: http://consumer-law.lawyers.com/Contract-Basics.html
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The problem is that you are not bound to attend that school as you can pay multiple deposits and hold many seats at different schools. If this were a binding agreement, you'd only be able to put down one deposit as you would inevitably be breaking a contract with someone. I think you are allowed to stop payment on a cheque (that's for you TQ!) as you are rescinding your consideration and are not agreeing to the contract. So long as you decline their offer you are free to stop payment as they don't actually have the money (i.e. your consideration) until the cheque clears. I'm not entirely positive on this, I'll have to ask my wife later (she's a few months away from her J.D.) and see what she thinks.

ETA - Call the school and ask if they'll help you out. If not, try canceling the cheque. Don't let it bounce as purposefully bouncing a cheque is illegal and expensive when you add on the fees the bank will hand you.
 
this is my issue with DO schools. posters on this board talk like 2000 dollar is a pocket change. it's not. It's sad to see DO schools screw people's money out like that.
 
MSSM2013 said:
this is my issue with DO schools. posters on this board talk like 2000 dollar is a pocket change. it's not. It's sad to see DO schools screw people's money out like that.
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I think it is a vestige of days when a lot more people who wanted to go to only allopathic schools used D.O.s solely as a backup and left D.O. schools with unfilled or late filling classes. Now there are enough applicants that genuinely want to attend that it isn't a problem, though I'm not sure why the schools still do it. 😕
 
MSSM2013 said:
this is my issue with DO schools. posters on this board talk like 2000 dollar is a pocket change. it's not. It's sad to see DO schools screw people's money out like that.
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No one here is really scoffing at two grand or acting like a balla', but people are definitely saying that 2k is less severe than legal action, ruining your credit, committing a potential felony, etc. Also, this isn't exclusive to DO schools, if you attend, goes fully towards your tuition, and like PhysioDoc said, it's a mechanism to snag the best students. It has a purpose, and like I said earlier, people, much more legal savvy than us, have set these systems up. Is it completely fair to poor, young students? No. However, are these people sitting in underground lairs in hollowed out volcanoes, thinking up ways to screw us poor, naive, defenseless students out of 2k?? Absolutely not.
 
http://en.wikipedia.org/wiki/Posting_rule

See example 3. Placing the check in the mail constitutes acceptance of their offer, and accepting the offer requires $2K. Whether the person decides to go to the school is irrelevant, they are simply contracting to accept the offer of admission.

Moral of the story is to be sure you want to go to said school, and know that if you change your mind, you aren't getting the money back.


Physio Doc 2 Be said:
The problem is that you are not bound to attend that school as you can pay multiple deposits and hold many seats at different schools. If this were a binding agreement, you'd only be able to put down one deposit as you would inevitably be breaking a contract with someone. I think you are allowed to stop payment on a cheque (that's for you TQ!) as you are rescinding your consideration and are not agreeing to the contract. So long as you decline their offer you are free to stop payment as they don't actually have the money (i.e. your consideration) until the cheque clears. I'm not entirely positive on this, I'll have to ask my wife later (she's a few months away from her J.D.) and see what she thinks.

ETA - Call the school and ask if they'll help you out. If not, try canceling the cheque. Don't let it bounce as purposefully bouncing a cheque is illegal and expensive when you add on the fees the bank will hand you.
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JRjcu08 said:
http://en.wikipedia.org/wiki/Posting_rule

See example 3. Placing the check in the mail constitutes acceptance of their offer, and accepting the offer requires $2K. Whether the person decides to go to the school is irrelevant, they are simply contracting to accept the offer of admission.

Moral of the story is to be sure you want to go to said school, and know that if you change your mind, you aren't getting the money back.
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I stand corrected.
 
Kevon said:
Did you stand up just to be corrected? Stay seated for sure.

I admire the fact that you admitted to being misinformed. Most other people would have just left the thread.

👍
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:laugh:

I have no problem admitting when I was wrong. Grad school has helped me develop this skill and I'm sure medicine will re-enforce it. I picked my wife up from her final and proposed the situation and she told me I was wrong as well. But thanks.
 
Physio Doc 2 Be said:
I stand corrected.
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I'm sure had you spoken to your wife she would've told you about the rule. (I found out by asking my law student boyfriend.) Also having a law student as a significant other sometimes brings out the little lawyer in me... Physio - I'm sure you feel the same?
 
JRjcu08 said:
I'm sure had you spoken to your wife she would've told you about the rule. (I found out by asking my law student boyfriend.) Also having a law student as a significant other sometimes brings out the little lawyer in me... Physio - I'm sure you feel the same?
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Indeed it does. When I presented my thoughts on it she laughed and told me no. She said more than likely the school wouldn't waste the time/money to pursue someone for $2,000. Aside from that, since the offer is conditional, they may be a little more flexible on their end, since they don't have it locked up tight on their end either. More than anything though, she said it'd cost them about or more than $2,000 (particularly if the other party has a lawyer and can drag it out a bit) to pursue you and it isn't worth it when there are 10 more people waiting to throw the money at them. Good catch and I'm sorry for contradicting you.
 
the school was very understanding and had no problem returning the check back to me. yay! now i have money for a winter vacation.
 
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