Because payday lenders require a post-dated check
or a debit authorization, payday lenders accuse customers of committing the crime of check fraud or passing a bad check if their checks bounce or if the account debits are denied due to insufficient funds ("NSF").
Under the deal, GCash users may opt to pay for their real-estate dues via the digital money app, saving them from the hassle of paying through post-dated checks
, bank deposits, or through brokers and property developers.
ALMASAI which has an office address in Cubao, Quezon City, allegedly even issued 13 post-dated checks
-- 12 checks for the monthly earning of the investment and the 13th check as payment of capital investment.
On the same day, the mayor supposedly issued to Orteza 14 post-dated checks
with the total amount of P6.75 million.
For now, post-dated checks
serve as the primary mechanism for repayment.
"The kinds of things we use are promissory notes or post-dated checks
. We're certainly discouraging people from paying by check, we want them to go through ACH.
do not qualify for the district attorney's check enforcement program.
The two eventually met on March 5, 2018 in Pasig City where the victim asked the suspect to produce P135,000 as cashout payment for the vehicle, three post-dated checks
amounting to P19,607 each as payment for monthly amortization which was due from April to June 2018; and various IDs.
We will only mention the acceptance of post-dated checks
as extended cash terms.
But sometime in October 2016, Salazar said Almazan started having difficulty paying them, the latter claiming that JC Tayag issued post-dated checks
to her that bounced.