Owning a small business or operating a government or non-profit organization inevitably means receiving an insufficient funds check. Hopefully, this won’t be a recurring event, but it is unavoidable that someday, someone will write you a bad check. Though receiving an insufficient funds check can be damaging to a business’s finances, it can be rectified by following a few steps. If you are facing the issues raised by an insufficient funds check, let us help you through the process of collecting on an insufficient funds check.
The methods for collecting on an insufficient funds check can vary depending on the circumstances in which the check was written. Many times, the individual who wrote the insufficient funds check didn’t realize they lacked the funds to cover the amount of the check. The best way to handle a situation like this is to directly call the person and explain the situation. Once the person is aware they have insufficient funds in their account, they then have the opportunity to resolve the issue. If the person disagrees with you or cannot be reached, you will need to take a different course of action to collect your funds.
The first thing to do as a result of inability to contact the check writer is to contact the bank. While the bank cannot tell you how much money is in the check writer’s account, they can certainly tell you if there is enough money to cover the amount of the insufficient funds check. Of course, this process is time-consuming because you may have to call the bank on a daily or weekly basis until enough funds are available to cover the check. If it becomes clear that this method isn’t working, you may need to take serious legal action.
Once you go through the process of recovering funds from an insufficient funds check, you’ll realize that the process is too time-consuming and potentially fruitless. That is why Global Check Recovery can make the process less of a headache for you. Using a state-of-the-art electronic check collection system, we can recover your funds with a much higher success rate than if you handled it yourself. Also, we don’t charge fees of any kind. Contact Global Check Recovery today to learn more by calling 1-866-524-3339.