Financial Temperature

What action shall be taken if finance company deposits my cheque given for security reason?

I bought a 2 wheeler using finance. They take my money from my bank by ECS method without interruption on monthly basis. Now they have deposited my cheque also given for security reasons . Now i have to run post to pillar to get statements from bank supporting the same and submit it to finance company and beg behind them .. This affects my work in a greater way. Shall I approach consumer court ? How I will be benefited ?

Public Comments

1. it depends on which jurisdiction you're talking about.. usually the courts do not differentiate between security checks and ordinary checks as they are the same.. the check is not considered a tool of credit, and thus the finance company has the right to deposit it anytime without requesting your approval. but again as i said, it depends on your jurisdiction.