VI. IN THE BIG EVENT YOU CAN FIND POTENTIAL CRIMINAL CONSEQUENCES ARISING FROM A BOUNCED PAY DAY LOAN CHECK, MIGHT THREATENING ORIMPLYING A THREAT OFPROSECUTION BUT VIOLATE IOWA CODE § 537.7103 IF THE PAYDAY LOAN PROVIDER NEVER PRESSES CRIMINAL CHARGES?
Inasmuch since it is our interpretation of Chap. 533D and 537 that default on a check loan will not implicate the unlawful procedure, threatening unlawful effects for non-payment of this loan would break the Iowa commercial collection agency tactics Act. Iowa Code § 537.7103.
Nevertheless, in case it really is determined that it’s theoretically feasible to invoke the unlawful procedure associated with pay day loans in certain circumstances, it could however never be permissible for the lending company to regularly make such threats.
The prospective for abusive collection methods that post-dated or deferred deposit checks online title loans mo are very well
Recognized. As an example, the federal Fair Debt Collection techniques Act places strict limits in the solicitation and cashing of post-dated checks. 15 use § l 692f(2)-(4). 73