Postdating a check illegal, about the author
The fact that you are holding a check that will be presented to the bank for payment on a specific date places a burden on the debtor to have funds on deposit when the check is presented. Additionally, the only time a bank can be held liable for processing a postdated check before the indicated date is if that notice is still valid. In the event that the check is dishonored and the customer is sued, the existence of the check makes it harder for the customer to argue that the debt was never owed. She says that many people who end up falling into predatory lending traps like payday loans have also used postdated checks to try to stave off debt collectors. In some states, if a consumer gives the financial institution reasonably timed written notice about a postdated check before the check is received, american dating free then the notice is valid for up to six months.
That means the bank must wait to cash the payment until the date stated on the paper or until six months is up, whichever comes first. Try again later Consumer Support.
This article originally appeared on Consumerist. All email addresses you provide will be used just for sending this story.
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