Post Dated Checks?

I have a list of creditors that I am currently paying back to repair my credit. One creditor in particular is a thorn in my side. They will not accept my monthly payments that I%26#039;ve been sending for two reasons. One is because my payments is too low and they are asking for 3 times a larger amount, second is because they want practically a year%26#039;s worth of post dated checks of the amount they are asking for. I do a strict budget analysis every month and I know exactly how much I can afford to send to them. I%26#039;ve been sending them payments by money order faithfully for the past 4 months since the account been in collections. I%26#039;ve had bad experience with post dated checks, and refuse to have my financial situation any more uncomfortable trying to pay them what they are asking. I%26#039;m highly considering ignoring them and just continuing to send them what I%26#039;ve been sending them. Are the post dated checks illegal? and can they take legal action against me for not making an agreement with them?

Post Dated Checks?

Post Dated Checks are not illegal, and the government allows banks to cash post dated checks. So they could technically cash those checks ahead of time. However, in doing so they would be violating the Fair Debt Collection Practices Act(FDCPA). In which you had faith that they would not cash the checks until a certain time.

But you need to stop sending them any money without an agreement. Because you do not know if this is actually doing you any good, and it might be causing you more problems. So you need to send them a letter stating the total amount of the debt you are paying, the amount of each payment, and the date of each payment(ie. the 25th of each month, starting on the month after you have written confirmation that they agree) Until you get an agreement in writing that you can manage DO NOT send them another dime.

Can they take legal action against you. Yes, this is where sending them money has caused you more problems. There is the Statute of Limitations which is the period of time they can sue you. This varies by state from 2-6 years from the date of the last delinquency. However, every payment you make and they accept resets this time.

Post Dated Checks?

They will ALWAYS try to get you to send more than you are able to send. I would suggest keep sending money order payments and keep your copies

If they return the money orders (and believe me they wont) then document everything.

I dont do post dated checks either. Never let them have access to your account like that. I think it was Suze Oreman or Dave Ramsey that mentioned that you should NEVER allow creditors gain access to your account like that.

So dont do it. Pay them like you have been paying.

They will continue to try to bully you....you tell them yeah ok and hang up. Mail your money order every month

Post Dated Checks?

it sounds like it may be a 3rd party collector they can be ruthless, mean, unethical, you name it.

I say just keep sending in what you have been and ignore their other attempts to bully you, they get commissions and incentives off what you pay and if they get you to pay the balance in full. they are looking out for themselves not you.

just keep up what you have been doing and don%26#039;t let them get to you.

good luck.

Post Dated Checks?

I wouldn%26#039;t give them post-dated checks. That%26#039;s taking too much control out of your hands. If you%26#039;re sending them as much as you can afford, what more can you do? They aren%26#039;t willing to work with you on this? It%26#039;s generally better for them to deal with you directly, when you%26#039;re willing to cooperate, than for them to use a collection agency.

I wouldn%26#039;t ignore them, but call and explain your situation. Maybe include a note with each payment, keeping a copy of both. Keep a copy of everything. Documentation is critical. Keep a detailed record of every conversation, payment made. Everything.

Post Dated Checks?

Absolutely do not give them post dated checks! Don%26#039;t give collection agencies any access to your bank account.

You should also stop making payments until you have a written agreement. It is likely that your small payments are not even keeping up with interest and fees they are adding. If they don%26#039;t want to give you a written agreement, I suggest you just let them stew and use the money to work on paying off one of your other creditors faster.

Post Dated Checks?

No creditor is going to refuse a payment from you, they%26#039;re going to take what they can get. It sounds more like the payments you%26#039;re making just aren%26#039;t getting you anywhere on the account. If you%26#039;re making less than what they%26#039;re asking you%26#039;re just going to keep falling further behind. I%26#039;d try and discuss getting some sort of hardship program with them since you can%26#039;t afford what they%26#039;re asking. If you%26#039;re more comfortable paying by money order, I%26#039;d keep paying that way. Just be sure to save your receipts in case there%26#039;s any dispute later down the road.

Post Dated Checks?

In the first place post dated checks are illegal. You do need to be sending the payments to the collection agency that bought your debt. It sounds like your arrangements for payment have alread been made.