Postdating check illegal illinois

Posted by / 27-Jan-2018 03:06

A postdated check is a check with a future date written on it. Two potential reasons for this include: No fraud allowed: There’s no law making postdated checks illegal.It is illegal to write a check when you know you don’t have the funds to cover it, but things get a little fuzzy – and details depend on state law – when you postdate a check (assuming it is accepted as payment).As a landlord, collecting a check that has been postdated could be dangerous.The tenant may know that he or she will not have the money in time, the check could have a stop-payment placed on it, or the check may bounce.As a result, the transaction is not considered as issuance of a "bad check" since the creditor released the merchandise or performed the service in reliance of the check writer's promise to pay at some later date rather than in reliance of the check's negotiability.Therefore, the protections offered to creditors under the various "bad check" laws may not apply.

There are both civil and criminal penalties for this unlawful act, although it is much more costly and difficult to prove a criminal case.It’s also illegal to defraud somebody who sells you something by pretending to pay but never actually paying (or having the intention to do so).Not a written agreement: Just because it's legal doesn't mean things will work out the way you intended: The date that you choose to use is not part of a legally binding agreement between you and the person you wrote the check to.Always consider your goal: to recover the money or punish the check writer?In most cases, NSF checks are not considered under the bad check law if they are used to pay an antecedent debt.

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One of the myths that somehow refuses to go away is the myth that post-dated checks are "illegal." They are not.

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