Businesses deal with bounced checks on a regular basis. In today’s world with the advanced technology, that situation has greatly decreased. However, issues still arise for a number of reasons. When you have a business and need a check to go through, there are certain rules for the re-presentment of the check. It helps to know these before you pursue that payment that didn’t work out the first time.
Age and Amount of Check Are Important
It is key that the check is less than 180 days old and equal to or less than $2,500. This allows the check to fit the criteria for re-presentment. Meanwhile, the check must not have been presented three times already. That is the maximum attempts to receive payment.
When it comes to NSF check recovery, the entire process can be handled professionally and increase the chance that the money will be received. That is why it is wise to go with professionals if the payment did not go through as expected.
Both business and personal checks can be put through this process of retrieval of funds. The checks, however, must have been returned due to Insufficient Funds or other related reasoning.
Know Your Boundaries and Call in the Professionals
Running a business requires focus on inventory, employee issues, potential new product lines, partnerships and business changes. This leaves little time for focus on chasing down a payment for services already rendered. Get in touch with professionals that can handle this process for you. That allows the business owner, you, to focus on what is important to the future and also receive the payment that is necessary to keep the business running as related to finances and profit.
People who write these checks may or may not do it intentionally. Each case is different. However, professional handling of the process to retrieve payments can make a big difference in whether or not you get it in the long run.