hi again, yes the rules are different from canada/us, I said in my last post that rules vary from every single province and state. Like I said I am in Alberta, and they can not cash a cheque before it is dated, but do remember that if you send a cheque and it goes NSF they can send it back to the bank to get it certified so as soon as you put money in the bank it will be taken. The reason I said use post dated cheques is that if you have an arrangement such as this they will leave you alone until they run out of cheques. Even if you set up some arrangement where you will send a money order or whatever each month on say the 20th, they will call you to ensure that money will be in their office so you will still be receiving calls all the time and if it comes late you will be starting all over. So here, like I said before in Alberta it is best to send PDC's if possible. I know some people dont even have a cheqing account though, and rarely will you come upon a collector who will work with you enough to let you have a monthly payment arrangement where they wont have something to secure it. If you do send in PDC's be sure to know how many days notice you need to change the date it gets deposited in case of some unexpected circumstance...One place I worked at needed 5-7 business days because the cheques were sent to our head office in Toronto...another wouldnt change the deposit date, and the other only needed 2 days. This is just to protect yourself in case all of a sudden you have to get something like your transmission replaced in your car :)
In the U.S., if you send a stack of post-dated checks, there is nothing that prevents the collector from cashing all of them the day they receive them.
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yes the rules are different from canada/us, I said in my last post that rules vary from every single province and state. Like I said I am in Alberta, and they can not cash a cheque before it is dated, but do remember that if you send a cheque and it goes NSF they can send it back to the bank to get it certified so as soon as you put money in the bank it will be taken. The reason I said use post dated cheques is that if you have an arrangement such as this they will leave you alone until they run out of cheques. Even if you set up some arrangement where you will send a money order or whatever each month on say the 20th, they will call you to ensure that money will be in their office so you will still be receiving calls all the time and if it comes late you will be starting all over. So here, like I said before in Alberta it is best to send PDC's if possible. I know some people dont even have a cheqing account though, and rarely will you come upon a collector who will work with you enough to let you have a monthly payment arrangement where they wont have something to secure it. If you do send in PDC's be sure to know how many days notice you need to change the date it gets deposited in case of some unexpected circumstance...One place I worked at needed 5-7 business days because the cheques were sent to our head office in Toronto...another wouldnt change the deposit date, and the other only needed 2 days. This is just to protect yourself in case all of a sudden you have to get something like your transmission replaced in your car :)
All my best,
Danni
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