Bill > H364

This bill modifies existing debt collection practices by establishing specific rules regarding the acceptance and handling of postdated checks or similar payment instruments. Under the proposed legislation, debt collectors and creditors are allowed to accept postdated checks with important restrictions: they cannot accept checks postdated by more than five days unless they provide written notice to the payer between three and ten days (excluding holidays, Saturdays, and Sundays) before depositing the check; they are prohibited from soliciting postdated checks as a means of threatening criminal prosecution; and they cannot deposit or threaten to deposit a postdated check before its designated date. These provisions aim to protect consumers from potentially predatory debt collection practices by ensuring transparency and fairness in the process of collecting outstanding debts, while still providing debt collectors a mechanism to receive payment through postdated checks under regulated circumstances.

Labor and Employment

https://malegislature.gov/Bills/194/H364