Cheque deposits by finance company
Querist :
Anonymous
(Querist) 19 December 2009
This query is : Resolved
I got a car financed by a finance company and they got my post dated cheques {i:e 15th} of every month and promised me the cheque will be deposited on 15th and cheque will come to my bank of every month and on next day {i:e 16th}. In meantime I used arrange funds and deposit it in my bank on 16th of every month. But except two instalments the other cheque given by me started coming to my bank on 15th it self and got returned.My finance Company now is Charging for Cheque Bounce Charges and other extra Charges.As well my Reputation in my bank is also got spoiled.
Please give Solution and advice whether I can go to Consumer Court or High Court for my Mental agony
How come a crossed cheque will coming by bank on the same day?Instead comin on 16th it come for clearence on 15th itself. If I present a cheque in by bank it takes one or two day for clearance.
A V Vishal
(Expert) 20 December 2009
You are advised to deposit the funds atleast a couple of days before the due date viz 15th of every month, further going for litigation will all the more increase your mental agony. If you can arrange funds on 16th then why not on 13th itself. When your cheques are dated 15th it means you must have sufficient funds to honour the same on that date it is immaterial whether the cheques come in clearance on the same date or after a couple of days later. Under NI Act it is an offence that you have issued a cheque without having sufficient funds.
