Texas "theft by check"
Date: Mon, 10/31/2011 - 10:26
1. Two of the places have checks (the rest are online). I talked to one place on the phone (Cashmax) at the storefront and the lady said to just come in and pay the renewal fee and the company will never have to know the account is closed. I think she was talking about using the same check over and over? What's up with that? I don't feel comfortable doing that.
2. Can I be prosecuted for hot checks or "theft by check" in Texas for these payday loan checks? I think one of the checks doesn't have a date. The manager at the storefront Check n Go I went to said I would be charged with "theft by check".
3. Do I send the letters (revoking ACH and wage garnishment) and monthly payments (money orders) to the corporate offices, the storefronts, or both? All but one of my places is legal. I have a different letter ready to send to the illegal one.
4. After I send the letters and proceed to send them payments every month by money order is there anything else I need to do to cover myself?
Thanks for your help.
Defaulting on a PDL is not theft by check. The company knows the
Defaulting on a PDL is not theft by check. The company knows the money is not in the account at the time the check is written. It's the nature of their business.
Texas does have a law that if a check is written to intentionall
Texas does have a law that if a check is written to intentionally defraud it is considered theft by check. I believe the keyword there is "intentionally." I do not think they could prove intent. The check was written with intention of paying it back.
Checks written for payday loans are specifically not included in
Checks written for payday loans are specifically not included in the theft by check law because, the lender KNOWS that the funds are not available at the time the check is written. It's more of a loan contract/promissory note than a check when it's for a PDL.
It's not like going into a store, buying a TV and writing a hot check for it. Totally different.