What to do When You receive a Bad Check
?>
Download eBooks and Software
 Fully Verified Winning System Since 1999 & Vip Club Picks!
Winning Sports Picks & Predictions By Zcodesystem.com - Nhl, Nfl, Mlb And Nba Predictions And Picks From The Best Experts In The Industry + Fully Automated System Proven Since 1999 Awesome Conversion 5.26% And Recurring 60% Commission!
The Lotto Black Book
This Radical Approach To An Online Sales Letter Converts In The 3-5%... We've Never Seen Something Like This Since The Early Days Of 2004-2005 And I'm Sure You Haven't Either... We Convert More Than Our Competition And We Pay Out More... Try It!
Paleo Recipe Book - Brand New Paleo Cookbook
Brand New Paleo Diet Cookbook With Over 370 Recipes. Pays 70% Commission On This High-quality, Easy To Sell Product. Get Banners And Promotional Material At Http://paleorecipebook.com/affiliates.html
Articles > Business and FinanceWhat to do When You receive a Bad Check
by: Stephen Bucaro
As a small business operator, personal checks may be one method to receive payment for your goods or services. As a way to receive payment, a personal check is actually better than credit cards because the fees are less and there can be no charge back.
Fortunately, most people are honest and studious in taking care of their checking account. But sooner or later every small business operator will receive a bad check. The first thing to do is politely contact the individual and give them an opportunity to make the check good.
Most times you'll find that the customer has simply been careless with their checking account or finances. They will probably be embarrassed about the incident and will immediately replace the check with a good one. Unfortunately, there are rare occasions when the individual who gave you the bad check decides to make themselves scarce.
Note: If a personal check is for more than a few dollars, it's best to let the check clear before delivering the product or service. Say, for example, that someone wants to buy your car with a personal check for twice what the car's worth. Remember, a check is just a piece of paper until after it clears. They can return to pick up the car after the check clears, or you can offer to drive with the individual to their bank to get the cash.
There are three reasons why a personal check may not clear: "insufficient funds", "account closed", or "stop payment". The proper action to take depends upon why the check didn't clear. If the check is returned for "insufficient funds", and you can't locate the individual who wrote the check, file a crime report at your local police station. If a police investigator can locate the individual who passed the bad check, that individual will be required to pay you and/or spend some time behind bars.
If the check was returned "account closed", you may have a criminal case depending upon when the account was closed. If the account was closed before the date the check was written, you definitely have a criminal case. If the account was closed afer the check was written, the court may determine that you didn't present the check for payment in a timely manner. In that case, you have a civil matter, not a criminal complaint.
If the check was returned because of a "stop payment", you have a civil matter. Some people try to save time and work by filing a crime report for ANY check that doesn't clear. This can result in the individual who gave you the check being arrested. They may miss work and encounter a host of other problems as a result of your FALSE crime report.
I said FALSE crime report, because an individual who puts a stop payment order on a check almost always does so because of dissatisfaction with a product or service. The accused individual is now in a position to countersue for the problems caused as a result of your FALSE crime report. This could end up costing you a lot more than the value of the check.
Sooner or later every small business operator will receive a bad check. The first thing to do is politely contact the individual and give them the opportunity to make the check good. If that doesn't work, many people try to save time and work by filing a crime report regardless of why the check didn't clear. It's very important to determine why a check didn't clear before deciding on a course of action.
Disclaimer: Stephen Bucaro is not engaged in rendering medical, legal, accounting or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
Copyright(C) Bucaro TecHelp.
Permission is granted for the below article to forward, reprint, distribute, use for ezine, newsletter, website, offer as free bonus or part of a product for sale as long as no changes are made and the byline, copyright, and the resource box below is included.
?>
News on Business and Finance
The Business Finance Store Discusses New Findings on the Business Benefits of R&D
The Business Finance Store discusses a few new findings and examples of how companies get an incredible competitive advantage by developing and testing new products and services.Santa Ana, CA (PRWEB) May 24, 2012 The Harvard Business Review reports that a strong research quotient (RQ) could show that research is crucial to business success and that there’s a solid correlation between RQ and ... Yalian Steel Secures RMB 30 Million Trade Finance From Industry and Commercial Bank of China
VANCOUVER, BRITISH COLUMBIA-- - Yalian Steel Corporation announces that it has obtained a trade finance for RMB 30 million from the Industry and Commercial Bank of China to fund the working capital requirements of Yangzhou Yalian Steel Pipe Co., Ltd , a wholly-owned subsidiary of the Company in China ... The Business Finance Store Discusses Small Business Debt Collection
The Business Finance Store discusses some strategies for small business debt collection.Santa Ana, CA (PRWEB) May 23, 2012 Wonga, a high profile UK-based short-term lender, is being criticized by the British Office of Fair Trading for its debt collection practices, the BBC reported. One such debt collection tactic included suggestion that the debtor committed fraud and would be reported to the ... The Business Finance Store Discusses the Effects of Business Credit on Personal Credit
The Business Finance Store discusses some of the potential repercussions of business credit on a business owner’s personal credit.Santa Ana, CA (PRWEB) May 22, 2012 A recent study by Pepperdine University and Dun & Bradstreet Credibility Corp. showed that most small businesses tend to get funding through traditional channels, the Washington Post reported. Seventy-one percent of small business ... SBA Head Looks Beyond Loans to Help Small Business
Editor of CNBC.com's Small Business section, has covered business and personal finance for more than 20 years. She loves to shop local. "If your mother hasn't called you crazy yet, then you haven't graduated from the school of entrepreneurship."
|
