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NSF CHECK: The most dangerous and time-sensitive collection challenge there is!

 

Immediate action required -Your only safe assumptions are:

     -  It was NOT a mistake or oversight

     -  You are NOT the only vendor holding a bad check.
     -  Successful recovery requires your IMMEDIATE action.

 

Financial Distress or Fraud?
Banking mistakes are easily identified because (in these cases) dishonored checks are IMMEDIATELY made good. Debtors offering excuses in lieu of payment most probably knew the check was no good when it was issued. Knowingly passing a bad check is fraud…plain and simple.

 

Criminal Charges Explored
In almost every case, passing a worthless check violates one or more state criminal statutes and larger balances can result in felony charges. We incorporate this into our collection methods. (below)

 

Electronic Re-Capture of Funds
Our banking technology allows us to electronically present dishonored checks for funds recapture. With participating banks we also have the ability to place a 1st position hold order on accounts.

 

 

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 General Overview of Bad Check Laws

 

While there are differences from state to state regarding how bad checks are viewed (misdemeanor v. felony) and the remedies available for the holders of these bad checks,there are several general factors that remain constant in most states:

 

1.  In all states the issuer (signor) of a check, who tenders a check knowing that there is not sufficient funds or credit behind the check, may be guilty of a crime and may be subject to civil penalties.

 

2.  In most states, the crime is treated as a misdemeanor. In states that provide a felony distinction the amount of the check usually determines if the crime is a misdemeanor or felony.

 

3.  In some states there is a criminal offense only when the bad check is given in exchange for property or for a present consideration. In other states it is a criminal offense to issue a bad check with intent to defraud or with knowledge of insufficient funds.

 

4.  Most state law requires the intent to defraud and knowledge of insufficient funds to be present. It is not necessary for the payee to actually have been defrauded. The intent to defraud is sufficient.

 

5.  Most states have a statutory demand period to allow the issuer of a bad check to make resitituion upon written demand from the Payee.  After this "demand period" has expired without payment, most states then consider the check to have non-sufficient funds and/or be evidence of intent to fraud. 

 

This posting is intended only as a general guide for commercial transactions only and should not be used in place of legal advice. CRG does not offer legal advise. Any company with a bad check problem is hereby urged to consult with legal counsel for full details on the law of a particular state.

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