Legal Question in Banking Law in Minnesota
What will happen?
I am on a fixed income (Social Security Disability and M.F.I.P.) I have 3 overdrawn checks out that have gone to collection agencys, I called them and told them that I would be paying them for the checks but because of unforseen circumstances I no longer have the money to pay all 3 bills this month, I could do 1 or 2, but not all 3, will I be arested and sent to jail for not paying all 3?
1 Answer from Attorneys
Re: What will happen?
Unless you are charged by the state with a criminal action arising out of the checks ( highly unlikely if the checks were written on an active account), you will not be arrested or imprisoned if you don't pay these this month.
If you make payment arrangements over the next few months, you should be OK.
Depending on your debt situation, you may want to eliminate bankruptcy as a possible option.
How much do the 3 checks total? You may be able to negotiate a reduction, at least with regard to added fees,etc.
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