Someone has sent me a check for $250 in payment for property damage they caused in a car accident. It would have been better if I had gotten a cashier's check or official check, but I'll have to make do with what I've got.
Since I've spoken directly with the person, and since I have their address and phone number, I'm fairly sure this is a good check. But I really can't be 100% sure.
So once I deposit it, when can I consider the check to be "cleared"? That is, at what point can I be sure that the $250 is irrevocably mine?
There are other questions that have dealt with something similar (like the advance-fee fraud that probably underpins this question) but since the focus of the question was different, there wasn't a clear answer on the time for clearing a check.
Thanks to anyone who knows.