I made an initial payment to a company for $300 in October 2009. I gave them 12 post dated cheques in the amount of $ 189.00 due to be cashed every month until Sept 2010. The first 2 cheques went through without any problems. I trusted I was on their monthly payment plan and all was well. I don't zero out my accounts every month. I ensure I have enough to cover what is coming out and I 'spend the rest'. I just received a call that they have an issue with uncashed cheques. I decided to check my bank records and notice that they didn't deposit any of the 2010 cheques! I didn't even notice. A whole year went by and I didn't notice. I was cheering in September when I believed I was putting money aside for my 'last payment' and now it looks as though most of the debt wasn't paid. What is the statute of limitations on something like this? I gave them the cheques, put the money in the bank, and they didn't even bother to cash the cheques. What is the recourse for something like this? Any advise is appreciated. I am in Canada. That may affect the statue of limitations.

Statute of Limitations refers to the length of time someone has to take legal action against you for some issue. So I don't think SOL is what you are dealing with here. If this is a debt then, since its less than 2 years old, the SOL has not expired for the creditor to sue.

The real question here is what does the creditor want now? Theoretically, the money should still be in your checking account, so you should be able to just pay off the debt and be done with it. Do you have proof you gave them the cheques?

If you do have proof, it would appear that you are equally at fault here. The creditor for not cashing the cheques and you for not balancing your checkbook in a timely fashion to know the cheques weren't cashed.

So, you need to get past the fact that they didn't cash the cheques, that is basically moot. You need to deal with what they want now. For us to help you we need to know that.

One other point. Whatever possessed you to use post dated cheques? This is not a good way to handle a debt. Maybe once in a while, giving one cheque, but what you did was not a smart way to handle a debt.