Legal Question in Credit and Debt Law in Georgia
Bad Checks
in a recent transaction i loaned two persons 40000.00 In return i was to recieve 8% interest over 6 months. They have paid back all but 14000.00 plus interest. After they fell behind in our agreement by over a year they promise to pay 20000.00 as a settlement. These offers continued until they reached 40000.00 (all of which were offered and unsolicited).
In an effort to be cooperative i agreed to 40000.00 and recieved a check. The check is bad and i believe on a company account, is there any criminal action that they can be charged with in the event funds are not made available?
1 Answer from Attorneys
Re: Bad Checks
Only checks written for present consideration or rent are collectable via a criminal process. Any other bad check is a civil action and there are statuatory damages that can be added that require the exact correct language and notices.
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