Check n Go Texas Said They can File Criminal Charges using my bad chec

TEXAS PAYDAY LOAN LAWS:

State Legal Status
Lending of payday loan is legal in the State of Texas.

Loan Specifications
???Term of Loan - 7 to 31 days
???Maximum Rate of Finance and Fees- $10 per loan plus 48% rate of interest (annually)
???Finance Charge on $100 loan for a 14 day period - $12
???APR for $100 loan for a 14 day period - 309%

Debt Limits
???Maximum Number of outstanding loans permitted at a time - Not Specified (Aggregate outstanding loans of $500 to all licensees)
???Permissible number of Rollovers - None (if charge of renewal is less than the permissible rate of interest; otherwise can be converted to declining balance installment note)

Limits of Collection
???Collection Fees - Not Specified
???Criminal Action - Not Specified

File your Complaint and get Information
???Regulator - Texas Office of Consumer Credit Commissioner
???Address - 2601 N. Lamar Blvd. Austin TX 78705
???Phone - (512) 936-7600
???Fax - (512) 936-7610

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If they are post dated checks you have given them as a way of securing the loan, they are not yet BAD checks. They have to be processed through the back and come back NSF.
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There is no law preventing a PDL company or debt collection agency from requesting a post-dated check, however, a PDL company and a debt collection agency is prohibited from demanding you send a post-dated check in order to prevent criminal prosecution.


Can a PDL company or debt collector cash a post-dated check too soon? No, a PDL comapnay and a debt collector is not supposed to cash a post-dated check before the date on the check, but don't ever give them one anyway, since there is little you can do legally if he does cash it early! Banks have to process thousands of checks each night so there is no way a bank can catch every check that is post-dated.


The problem with giving a post-dated check to a PDL company or a debt collector is that there are unscrupulous PDL companies and debt collectors out there who will not only cash the check before the agreed upon date, but will empty your account of whatever funds are in it. So don't agree to send one in the first place. Never give a check to anyone when you know that you don't have enough money in your account to cover it.


Even if a PDL company or a debt collector complies with the law and cashes the post-dated check as agreed, you should never give any information to them about your finances. Why make it easier for them to levy your checking account if they later decide to sue? An alarming number of PDL companies and debt collectors have criminal records -- do you want them to have your checking account number in addition to all the other information they have about you at their fingertips -- so they can assume your credit identity more easily?


For these reasons, one should not agree to provide a post-dated check no matter how much the collector threatens legal action. Instead, tell him you will send him X amount of money on X date and send him a cashier's or certified check rather than reveal your checking account number. Of course, he will threaten and insist he must get a post-dated check over the phone right now, but don't do it.


These days, most debt collectors ask you to make post-dated check arrangements over the phone, but if you issue an actual paper, post-dated check to a debt collector, write the word "Postdated" above the date on the check to get yourself some measure of protection so that the debt collector can not later claim that he was not aware he was supposed to cash it after a certain date. If a collection agency cashes a post-dated check before the agreed upon date, it cannot use bad check laws to recover treble damages (which some unscrupulous collectors will try to do).

Don't over complicate this...

You need to call the Corp Office and report the employee that gave you this information. As a member of the CFSA, they have given up any given or impplied right to file criminal charges for past due loans. Make the call today.