Would someone who knows law answer a question for me.

I received a check in the mail for 3500.00 and If I cashed it I would be responsible for a loan which I don't want. This is from a finance company, and the check is real. Is there a law against this type of thing? What if someone else got the check and cashed it by signing my name.

L.W.

-- L.W. Brack (lon@aol.com), February 12, 1999

Answers

Congrats!! You have just been put inside the mailing list! It MIGHT also mean you have good credit record. We get those twice a month. And during tax season, once a week. Sooo, we went and bought ourselves a shreder(no kidding) where we process those plus lots of junk mail offers with our names on them. Yes! If someone cashes that check, it is on YOUR tab. And then try proving to the issuing company it wasn't you. Burn it!

-- (eli@zephyr.net), February 12, 1999.

You can't cash the check until you contact the people that you got the check from, they will want some personal information from you. I am sure there's somewhere on the check that says "nonnegotiable" on it. Unless you want to pay back $3,500.00 at 30% interest, you better tear it up.

-- bardou (bardou@baloney.com), February 12, 1999.

use them to help start the woodstove in the morning...work better than the funky Ed McMahon envelopes with all that weird dye in them...

Arlin

-- Arlin H. Adams (ahadams@ix.netcom.com), February 12, 1999.

Bardou, The checks we've been receiving do NOT say non-negotiable; they are meant to be signed and cashed. The reverse carries legalese saying that by cashing the check we agree to the terms etc etc. We get one or two a month, mostly from credit card companies, occasionally from finance outfits. the last one was a second mortgage agreement for $35,000 at 21.9 percent interest! And to think this country once had usury laws. But hey, that's the consumer credit economy for you. "We gotta keep 'em borrowin' and buyin'. We just gotta."

-- Cash (cash@andcarry.com), February 13, 1999.

I used to get them all the time too, and it was annoying having to shred all that mail. But I learned that the credit reporting services all allow you to have your name removed from the lists that they sell to credit card and finance companies. This is from the Equifax web site

Q6. Does Equifax have an opt-out system so that I can visit the site and prevent receipt of unwanted marketing materials via email or postal service?

A6. Yes. Equifax does have an opt-out feature allowing you to indicate that you do not want to receive any promotional materials from Equifax either by email or the US Postal Service. If you prefer not to receive pre-approved offers, you may call us at:

1-888-5 OPT OUT (1-888-567-8688)

Check them out - they all have instructions online

equifax.com

experian.com

tuc.com

-- Online2Much (not_getting_them@the.moment), February 13, 1999.