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Payday Loans

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parkerbrian33

Junior Member
What is the name of your state (Colorado)?
A payday loan company is say'ing there going to file criminal
charges against me. Because when they deposited the check the
account was closed. But the account was opened when the check
was dated to be deposited but they waited a month to deposit
it and by then it was closed. Can they file criminal charges
against me?

But according to this they Can't Right?

A consumer shall not be subject to any criminal penalty for
entering into a deferred deposit loan agreement. A consumer
shall not be subject to any criminal penalty in the event
the instrument is dishonored, unless the consumer's account
on which the instrument was written was closed before the
agreed upon date of negotiation, subject to the provisions
of section 18-5-205, C.R.S.
 



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