Ottawa_Chap
I thought the same thing, but all banks work together against the consumer. One bank employee clearly stated to me, if you withdrawl on your account with insufficient funds or over your overdraft protection limit,the bank will refuse to honor these cheques and this can be viewed as fraud. Simply because you knew you lacked the funds to honor the cheques,its called disceit. And this gives the ammo to your creditor to charge you with a criminal offense.
By the way you'll be charged an NSF fee by the bank and NSF fee by the creditor plus the amount owing.
I had two choices at my disposal, either refuse to write these post dated cheques or cancel them one by one.. I chose to refuse this creditor's request and now he is coming after me."nothing personal, just business"
Just be careful with these sneaky unsecure creditors..