Bounced Checks - Straight Talk On Dealing With Bad Checks (NSF)

A check can be considered bad if it is bogus or the NSF checks (non sufficient funds check), also referred as bounced check.

The issuance of a NSF or bad checks is an unlawful act and can attract civil and criminal penalties. The onus of a bad check is assigned to the person signing the check and such a person, upon incrimination, is likely to face legal action as specified by the judicial system of the state.

A bounced or NSF check is the result of insufficient funds in the account of the issuer of the check. An NSF check leads to the disruption of a healthy business cycle and also attracts bad check/NSF fees for the issuer of the check. The credit worthiness of the issuer is put under circumspection, which may blemish the business reputation of the issuer.

Measures Against Bad and NSF Checks

The receiver of the check should evaluate the credit worthiness and conduct due diligence of the business/financial repute of the issuer of the check.

A businessperson wanting to mitigate the risk of NSF or bad checks can employ the services of a check guarantee company. Check guarantee companies take upon themselves the liability of a bad or NSF check for a predefined fee.

The receiver of a NSF or bad check can transfer or sell the check to commercial collection agency, which will pay the receiver an up front sum of a certain percentage of the face value of the check. Later, the commercial collection agency employed tries, with good success rate, to recover the check amount from the issuer by employing difference collection techniques.

Check transactions, which constitute an important part of business payments, can prove to be detrimental to the financial health of the business itself, unless they are handled carefully.

The collection of bad debts arising due to NSF and bad checks can become an unwieldy task for a business. Commercial collection agencies are equipped with the necessary know-how and resources to tackle such cases involving fraudulent checks.

Collection Agency Services offers you a wealth of information on how to select the best collection agency for your business.

http://www.collectionagencyservices.net

---

Our World Of Credit Cards! Which One Is Right For You

There are not many of us who do not have... Read More

It Takes Credit To Build Credit

Using a credit card wisely is an important step in... Read More

Clean Credit Report: Easily Raise Your Credit Score 100 points

Clean Credit Reports, your credit report contains information about where... Read More

Good vs. Bad Credit Debt

Do you know the difference between good and bad credit... Read More

Applying for Credit Cards Online

In the olden days, about 10 years ago, before the... Read More

Credit Score: The Brightest Feather In Your Financial Cap

Credit scores are the most important aspect that determines your... Read More

Credit Repair Myths and Facts

There are no secrets to repairing your credit. Many shady... Read More

How To Use Your Credit Card For Ultimate Financial Advantage

Using a credit card wisely is an important step in... Read More

What is the Check 21 Act?

Check 21 is the common name for the Check Clearing... Read More

Recognizing the Signs that You Might Need Credit Counseling

Most families in America today have a credit card; some... Read More

Read and Understand Your Credit Card Statement

Have you ever looked at your credit card statement and... Read More

Saving Money with Credit Cards

Having a credit card is a wonderful convenience for those... Read More

Identity Theft Exploding: Here?s How You Can Avoid Becoming A Victim

Americans are more concerned about identity theft than unemployment or... Read More

Credit Score - Reporting Your Financial Health

Credit score is one of the most basic, determining factor... Read More

Collection Agency Secrets for Collecting on Bad Debt

Getting worried that one of your clients, customers or patients... Read More

Credit Card Benefits and Drawbacks

Credit cards have both benefits and drawbacks. It is wise... Read More

Get Your Credit Score To Soar In The Twinkling of An Eye

Ever wonder how a creditor decides whether to grant you... Read More

What You Need to Know About Credit Reports

You hear people talk about credit reports all the time... Read More

Addressing Bad Credit Card Debt

Spending HabitsSo you've just got your credit card. The first... Read More

How to Order the Right Credit Reports to Repair Your Own Credit

In this week's article, I am going to offer some... Read More

Boosting Your Credit Score To Get The Best Credit Card Deal

Making Your Credit Rating Work For YouOne of the basics... Read More

Some Truth About Credit

Credit is currently and has been historically an integral component... Read More

Bad Credit Loans For Those Who Seek Alternatives for New or Old Car

You can still save money on a Bad Credit Loan... Read More

Why Should You Use Credit Cards

Believe it or not, the way society, especially the commercial... Read More

Top 5 Reasons To Check Your Credit Report Regularly

#1 Make sure mistakes aren't hurting your credit.Reviewing your credit... Read More

Credit Trap: What They Dont Tell You About Credit Cards In College

In industrialized nations, going into debt starts early. It's easy... Read More

Choosing a Credit Counseling Company

If you have considered credit counseling as an option to... Read More

Like It Or Not, You Have A Score To Settle!

Like It Or Not, You Have A Score To Settle!... Read More

Credit Report Disaster Through Mistaken Identity

I've got some very important info I want you to... Read More

The Hitchhiker?s Guide To Insanity

A new sickness is plaguing the UK called Denial. Denial... Read More

Taking Control of Your Credit History

Your credit history is important; in fact, in this day... Read More

How To Use Your Credit Cards Wisely

Are you one of the thousands pulling your hair out... Read More

Student Credit Cards

STUDENT CREDIT CARDS With graduate debt averaging... Read More