I wrote a check that got returned by my bank. My bank charged me a return check fee on June 24th, 2006. I still haven't heard anything from the company I wrote the check to. Do I wait out or is there something I should do?
2006-08-01 10:37:47 · 5 answers · asked by jack512 2 in Business & Finance ➔ Personal Finance
They won't contact me?
2006-08-01 10:41:31 · update #1
Will they re-deposit it?
2006-08-01 10:42:19 · update #2
It was for $30.
2006-08-01 10:50:01 · update #3
Okay, the check was to Target for my Target credit card payment. I just called them and he said if I made a payment by phone right then it would make everything good. I then asked him what would happen with the return check and he said it would be voided. This doesn't sound right to me. Is that right?
2006-08-01 11:59:46 · update #4
I wasn't charge a fee by Target.
2006-08-01 12:00:20 · update #5
They may try to deposit it again, and depending on the company may do an electronic debit. You should call the company and ask them how to handle it. Regardless, if they deposit the same check or ask you to pay another way, you want to pay it because they most likely will turn it over to collections. And remember, you're not the first person to ever bounce a check. Just get it taken care of ASAP.
2006-08-01 10:57:46 · answer #1 · answered by jacksonctu 1 · 0⤊ 0⤋
First off, the company to which the check was returned will see it in about 5 more days-on their side they will see it slower the you do on yours. Go there right away and pay them the amount of the check. This way you may be lucky and they may give you break on their fee for a returned check, which will be the maximum allowable by law, usually equal to the bank bad check fee. If it was a large company sometimes those checks go directly to a collection agency and the company itself will never call you. A month latter the collection agency will. They will also put it on your credit bureau and in the check guarantee system so no other merchant will take a check from you anymore.
My advice-go and pay it TODAY!
2006-08-01 18:15:17 · answer #2 · answered by fasb123r 4 · 0⤊ 0⤋
Depending on the size of the check you wrote and the fact that it was returned. The company you wrote the check to may have turned it over to either the police (it may be a fraud in some jurisdictions) or to a collection company. My advice is to contact the company, make your debt to them good by paying the bill. This will illuminate your debt to them, make any chance of a fraud prosecution go away and keep any collection agency at bay and lastly maintain a good credit rating for you.
2006-08-01 17:46:29 · answer #3 · answered by Martin S 1 · 0⤊ 0⤋
You'd better contact whoever you wrote the check to...and quick.
2006-08-01 17:41:08 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You must make it good, or your credit will plummet.
2006-08-01 17:41:13 · answer #5 · answered by helixburger 6 · 0⤊ 0⤋