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payday loan company and bankruptcy

I told the payday loan company I was declaring bankruptcy and they went into my bank account after being notified, took $500 (more than the original debt was). I got it back – my bank did a reach back (or something like that). They then took one of the cheques that bounced and certified it and took more money out of my account. Is this legal?

Posted from: British Columbia

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One Response to “payday loan company and bankruptcy”

A licensed trustee said...

Yes, it is. Any time a cheque is “bounced” the recipient has the right to go to the issuing bank and have it certified – effectively the bank withdraws the funds at that time so the recipient can take the cheque tio their own bank and depsoit the funds.