Rick Vaughn, Categories: There is no law preventing a debt collection agency from requesting a post-dated check, however, a debt collection agency is prohibited from demanding you send a post-dated check in order to prevent criminal prosecution. So the big question that most people have is whether a debt collector can cash a post-dated check sooner than agreed? The answer is no, a debt collector is not supposed to cash a post-dated check before the date on the check, however, there is little you can do legally if they do.
The problem with writing a post-dated check to a debt collector is that there are devious collectors out there who will not only cash the check before the agreed upon date, but will empty your account of whatever funds are available. So make sure that you cover your bases with exactly who they are and where they can be located. Never give a check to anyone when you know that you don’t have enough money in your account to cover it.
Now this is going to sound strange coming from me, but even if a debt collector complies with the law and cashes the post-dated check as agreed, always be wary of giving away your checking account information. It is my suggestion that you tell him you will send him X amount of money on X date and send him a cashier’s or certified check rather than revealing 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.
The TRUTH is the better collectors will always insist on post-dated checks. The reason being it takes the responsibility away from the debtor and requires less maintenance of the account. In the end, however, even if you send in a check, the agency will still be able to capture your information. Remember, that it’s not an automatic debit out of your account and it will take time to clear (approximately 2-3 days after the check is dated).
| 3.2 |
If you enjoyed this post, make sure you subscribe to my RSS feed!
0 Comments until now.
Comment!