Writing a bad check can really be a tough
predicament. It can happen to anyone, even those who that make an effort
of taking care of their money. Poor budgeting and impulsive thinking
are the most common root of this financial problem. If you happen to
blunder into this situation, acting quickly to resolve this problem is
critical because this mistake can be costly.
While a single bad check may not be too
much of a problem, a number of them can cause havoc on your budget. You
have to pay a bank fee which can range from twenty to thirty dollars or
more. You may also have to pay the same price to the person or store
for the inconvenience you have caused.
If your bad checks pile up, your bank
account will quickly go into negative numbers and your bank may
ultimately decide that you are a huge risk and close your account
completely. Opening a new account will not be possible unless you repay
the balance of your previous account and your bouncing check will
recorded on ChexSystems alerting other banks of your infractions
Your problems can also worsen if
establishments resort to legal action to retrieve their money. You may
receive a call from companies that specialize in recovering bad checks,
reminding you to resolve the problems with their clients as soon as
possible. Bad checks will not affect only your finical situation; your
reputation can also be destroyed as well. Banks will be reluctant to do
any business with you and it will also diminish of job opportunities
that will be available to you.
Try to avoid writing bad checks as much
as you can. The problems that plague you after writing one can plague
you for a long time. If an accident does happen, try to work out the
problem as quickly as you can. Your future and reputation are at stake
so always keep an eye out to keep your financial situation healthy.
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