Legal Question in Credit and Debt Law in Illinois

My payroll check bounced and currency exchange is after me!

I cashed my check at a currency exchange here in Chicago. There were two payroll checks that bounced. My other paychecks had no problem. About 3 months later, I received a letter from the currency exchange's lawyer saying that I owed the money for the checks (which was over 600 dollars). I did not write these checks and it is not my fault they bounced. Am I responsible to pay the money back to the currency exchange? They are threatening to sue me.


Asked on 3/11/09, 11:49 pm

1 Answer from Attorneys
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: My payroll check bounced and currency exchange is after me!

Yes, you are responsible to pay them. You most likely signed a loan document when they agreed to cash your payroll checks, as is typical with a payday loan provider. You do not say whether your employer reissued the bounced checks. This would impact your ability to go after your employer for these funds. This does not change the fact that you agreed to have the checks cashed by a currency exchange and likely signed an agreement agreeing to a loan based on the existence of these paychecks. I'd recommend finding the documents you signed when you cashed these checks.

Read more
Answered on 3/12/09, 6:51 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Illinois