Over 180,000,000 people have checking accounts in the United States. The number of returned checks is astronomical. The Nielson report states that 1.2 million bad checks are written daily. Moreover, statistical studies indicate an increase of eighteen percent each year in returned checks. Reviewing these numbers, it is evident that bad checks can be a significant challenge for any type of business. This unethical behavior of writing bad checks imposes unnecessary financial burdens on too many merchants.
Using the Courts
In a typical situation, if a merchant is paid with a bad check due to non-sufficient funds or a closed account, criminal and civil remedies is an option. However, it is imperative that state statutes be adhered to for every step of the process. A judge in a criminal court, for example, can deny your legitimate request for reimbursement and fees, if you make an error following the strict guidelines set forth for NSF check recovery.
That is why most people contact an attorney to handle these matters. An attorney can ensure you that the laws of procedure are followed closely, that every loophole is known, and that you will have your day in court. The downside is the cost of the attorney and court fees.
An Alternative for NSF Check Recovery
A court ordered judgment does not guarantee the check writer will pay. The good news is that there is a way to eliminate your grief and all of your financial loss. You can have your own personal account manager at no cost to you. Global Check Recovery, Inc. is in the business of doing all the work for you concerning NSF check recovery. They have been a Better Business Bureau accredited member since 2004 and have been in the business since 1998.
Benefits of using Global Check Recovery for NSF check recovery
You will receive 100 percent of the face value of every bounced check collected by Global Check Recovery. There are no monthly or set up fees for the merchant who received the bad check. Global Check Recovery handles both personal and business checks.
By using the Automated Clearing House (ACH) network, the returned check is re-presented directly into the check writer’s account. This method of NSF recovery enables checks to be presented electronically two more times after they were presented in paper form. This will increase the collection and recovery of your money.
Criteria for Approval
The criteria necessary to sign up for NSF check recovery with Global Check Recovery:
• Check cannot be over 180 days old.
• Check amount must be less than $2500.00.
• Check must be returned for non-sufficient funds, or similar reason.
• Notification of policy for returned check must be given at time of sale.
• Check cannot have been deposited over 2 times.
The Success of NSF Recovery
By resubmitting the check electronically, financial institutions give priority to collection of the funds. Electronic transactions are given priority. Moreover, Global Check Recovery times the re-submissions strategically. For example, they anticipate consumer paydays, which improve chances of collection significantly.