UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next
Author: ClubJuggle Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308782  
Subject: Re: Credit Card Company vs. Consumer Date: 2/1/2001 8:05 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Please go see an attorney. See if you can get a suit brought for a contingent fee (a percentage of recovery) which means you won't have to pay up front. I believe that the FDCPA probably refers to the practice of debt collection people soliciting post-dated checks, but it may be simply that their failure to return it to you is enough to constitute liability. Whatever, your bank shouldn't have cashed it either, so there's a potential nother defendant.

Actuallt, the bank cannot be held liable in this case. The Uniform Commerical Code dictates that a bank is under no obligation to honor a post-dated check, but it is under no obligation to return it either. The law is written this way because of the realities of automated check processing; so many checks pass through the banking system each day that it would be impossible to check dates, signatures, etc., on each one and still process the checks in a timely manner (and without charging an exorbitant per-check fee to the customer!).

I am not aware one way or the other of the laws affecting what the creditor did, but the bank that honored the check is blameless in this case.
-Terry
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (6) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Berkshire Hathaway

IBM: Is Buffett Wrong, or Brilliant?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement