Crazy Fees for nsf cheque

[NSFL]

Originally Posted by mykalberta

Actually that is a good idea. They have to accept it since its a debt and pennies are still legal tender.

Bring in the pennies, as well as a cheque for $225 - say either take the pennies or the cheque for $225. If they take the pennies say you expect change from that.

Actually now that I think of it, do it with dimes, less weight for you, almost equal amount of hassle for them.

I think there's a law that says you can't pay for anything more than 67 cents with pennies. I could be wrong though. This is one of those heard from a friend things. Hmmm, I'm gonna go google that now...Mmmkay, can't find anything. But there is great hate for pennies.

[onetwo_threefour]

Since Troutman hasn't ventured in, I will as the junior real estate lawyer here, advise you.

You might as well pay up and take it as a life lesson. I actually had clients in my office today with this very problem (also in Cranston), although I am not sure whether it was on account of a cheque writen on an old account or not.

The fact is, there is a legal encumbrance registered against title to your property that authorizes the association to take legal action against you if you don't pay. The rationale behind notifying the bank is that if you don't end up paying the fees the legal process is a form of foreclosure, and since the association has priority over the mortgage at land titles, they could theoretically foreclose the mortgage off title over a few hundred dollars. Generally, the mortgage company will pay the fees and bill the homeowner throught the mortgage for having had to do so rather than run the risk of being foreclosed off title.

The NSF fee is pretty normal, many lenders are charging 50-75 for an NSF mortgage payment now. A lawyer writing a letter for 50-100 for anybody is cheap. (Probably because it's a form letter the lawyer just signs without even reading.)

You can make noise if you want but it's not going to make any difference IMO.

[psicodude]

Stupid life lessons....

Thanks for all the advice guys. I am sending another cheque today.

[old-fart]

Originally Posted by psicodude

Stupid life lessons....

Thanks for all the advice guys. I am sending another cheque today.

Date it wrong....

Or forget to sign it....

[RougeUnderoos]

Originally Posted by psicodude

Stupid life lessons....

Thanks for all the advice guys. I am sending another cheque today.

As a member of this association, can you say something? Like in a newsletter or at a meeting?

350 bucks is a pretty steep hit for accidentally picking up an old chequebook. I doubt anyone else (who hasn't been nailed for this already) knows it. It is clearly a cash grab on part of the Association (who should probably looking out for its members, not ripping them off) so they may want to keep it quiet.

[Dan02]

Wholly dickwads batman, is it too much to ask for the association to try and contact you before filing a lien against your property? Caulk one up for never moving to Cranston. That's freaking ridiculous.

I thought this was gonna be a rant about the 42.50 the bank charges for NSFs, which is stupid enough, but another 150$, robbery i tells ya.

[Ice]

Originally Posted by old-fart

Date it wrong....

Or forget to sign it....

It won't matter. Nobody looks at checks for that amount before it clears your account.

[simonsays]

They don't have to accept if you pay in pennies. from Wiki:



Legal tender of Canadian coinage is governed by the Currency Act which sets out limits of:

• 40 dollars if the denomination is 2 dollars or greater but does not exceed 10 dollars;
• 25 dollars if the denomination is 1 dollar;
• 10 dollars if the denomination is 10 cents or greater, but less than 1 dollar;
• 5 dollars if the denomination is 5 cents;
• 25 cents if the denomination is 1 cent.

I remember this from Grade 12 Economics.