bad check law
Date: Wed, 12/23/2009 - 16:11
A pdl lender can't have you arrested for not paying. If you are
A pdl lender can't have you arrested for not paying. If you are threatened with possible arrest or lawsuit, you may wish to check the following thread.
http://www.debtconsolidationcare.com/paydayloan/scare-tactics.html
which company is this? it is a common scare tactic :(
which company is this? it is a common scare tactic :(
Quote:Originally Posted by btonya8is an ach transaction consider
Quote:
Originally Posted by btonya8 is an ach transaction considered the same as a bad check law in s.c.? How long do i have before a pdl takes a warrant out on me? |
in a word...no.an ACH can be revoked at anytime.as bea said a common scare tactic used by illegal pdl's.
Any bad check laws I've seen only apply to paper checks. IL law
Any bad check laws I've seen only apply to paper checks. IL laws don't even apply if it is a post-dated check. The argument is that when you write a check, you should know whether funds are available or not; and so if you obtain goods or services by writing a check that you know won't clear, then it is a form of theft.
In an ACH arrangement, you could basically say that you are writing a series of "electronic" post-dated checks. But you cannot possibly guarantee that funds will be available for each of those electronic withdrawals, and the laws are on your side in that regard.
So don't worry, if an ACH bounces, the PDL cannot charge you with any criminal matter and they cannot put a warrant out for you.
