Bouncing cheque or not?

Question

I issued cheques to the real state developer whom I had mortgage for two years now. I issued a 36 post dated cheques to the developer as my payment for the first three years.

The problem is, the bank which I had my saving account CLOSED and tranferred all their clients' account to another bank. Worst, I'm out of town and will be back after 6 months that's whay I can't give the developer another set of post dated cheques.

My questions are:

1. Will I be guilty if the developer will charge me of a bouncing cheque? including some penalties related?

2. What's the best thing to do?

THANKS in advance to all who will share their knowledge about this.

Answer 1

First, now that the Check 21 Act has been past, post-dating checks doesn't work anymore. You can write January 1, 3001 on a check, it can still be cashed or deposited today. You can ask someone not to cash it before a certain date, but that requires a separate written agreement.

If the bank closes and you didn't know about it beforehand, let the real estate developer know about it. Figure out some other way to pay. You might be late, but let him know as soon as possible. If companies hear that you are doing your best and that this was out of your control, they will usually work with you.

If you do run into bounced check fees, try to make the old or the new bank reimburse you for the fees.

Answer 2

a; a post dated check in the US has

no meaning; a bank or "accepter" of the

check may deposit it immediately.

in other nations, that may be different.

b; since you gave no money to anyone

[check with no funds] you have no contract

with anyone.  

c; yes, you COULD be held for

bounced check charges.

d; unless you are in the military [Soldiers

and Sailors act], I have no ideas for you

cause no landlord will be obligated to

wait 6 mo to be paid.

What I don't understand is, why not

contact an atty where you are [if not in the service] and get that atty to work with

the bank.

YOUR situation is "hiding more than you are volunteering."

Answer 3

if you can, contact everyone to whom you wrote a check and you think it might bounce. arrange a payment plan if you can. if you start bouncing alot of checks they can set the authorities on you and file charges. you can get jail time and some serious fees for this. contact your bank and see if they can help you out. fix it as fast as you can to minimize the damage.