http://www.canada.com/vancouversun/news/business/story.html?id=fee8ff50-cd4d-4dc0-9716-15b8940e67b2
It’s not just me. A lot of readers say they, too, are shocked to find themselves or their law-abiding neighbours on the losing end of lawsuits launched by Money Mart, a company they don’t — and don’t want to — deal with.
So what can be done?
Well, I see three possible answers — a lot, not much and heaven knows.
Let’s take the last answer first. The stories I’ve told involve people who, for good reason, stop payment on cheques they’ve written. Perhaps the work being paid for wasn’t properly performed, as was the case when I was hit with a Money Mart lawsuit last summer. Or perhaps a “lost” paycheque is replaced, then a fraudster cashes both.
The problem is, even in clear cases of fraud, Money Mart can exploit a provision in the federal Bills of Exchange Act and sue the victim, not the victimizer.
Banks, credit unions and trust companies could do the same, but usually don’t. First, they’re diligent before they cash a cheque, withholding payment until it clears if they don’t know and trust the payee. And if they do get stung, they generally go after the villain, not the victim.
It’s hard to get a firm handle on how frequently Money Mart sues victims, but it looks to me as if it launches hundreds of lawsuits in B.C. each year. And in all of the several I’ve looked at, it was the victims who got nailed.
......
The original article is in:
http://www.canada.com/vancouversun/news/business/story.html?id=fee8ff50-cd4d-4dc0-9716-15b8940e67b2
Google "money mart complaints", you'll find many related stories and articles.
It’s not just me. A lot of readers say they, too, are shocked to find themselves or their law-abiding neighbours on the losing end of lawsuits launched by Money Mart, a company they don’t — and don’t want to — deal with.
So what can be done?
Well, I see three possible answers — a lot, not much and heaven knows.
Let’s take the last answer first. The stories I’ve told involve people who, for good reason, stop payment on cheques they’ve written. Perhaps the work being paid for wasn’t properly performed, as was the case when I was hit with a Money Mart lawsuit last summer. Or perhaps a “lost” paycheque is replaced, then a fraudster cashes both.
The problem is, even in clear cases of fraud, Money Mart can exploit a provision in the federal Bills of Exchange Act and sue the victim, not the victimizer.
Banks, credit unions and trust companies could do the same, but usually don’t. First, they’re diligent before they cash a cheque, withholding payment until it clears if they don’t know and trust the payee. And if they do get stung, they generally go after the villain, not the victim.
It’s hard to get a firm handle on how frequently Money Mart sues victims, but it looks to me as if it launches hundreds of lawsuits in B.C. each year. And in all of the several I’ve looked at, it was the victims who got nailed.
......
The original article is in:
http://www.canada.com/vancouversun/news/business/story.html?id=fee8ff50-cd4d-4dc0-9716-15b8940e67b2
Google "money mart complaints", you'll find many related stories and articles.
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