2007-03-05 08:41:05 · 10 answers · asked by isacm87 2 in Business & Finance ➔ Credit
The check I wrote out to this person was cashed on a Wed and I got paid on Friday. The money was dedcuted + $75. I wrote out this check to this person a month ago.
2007-03-05 08:52:51 · update #1
You just need to make sure you get those funds into the account so the bank has the necessary funds to avoid turning it into a collection.
I would call the bank directly and explain the situation and ask them exactly what needs to be done to avoid any credit penalty.
But as long as you replace the funds soon, it shouldn't be elevated any further.
Learn more at http://www.thetruthaboutcreditcards.com
2007-03-05 09:14:20 · answer #1 · answered by Todd S 3 · 0⤊ 0⤋
First, if you wrote the check a month ago, you have NO EXCUSE for not having enough money in your account to cover the check. Getting paid 2 days after it cleared is a lousy excuse for a check your wrote yesterday. Next, if the bank deducted the amount of the check from your account, they DID NOT bounce the check. For every day your account remains overdrawn, they are charging you an additional fee. You need to correct that ASAP. Usually, a single overdraft will not be reported to the credit bureaus. Multiple overdrafts can be and will harm your credit.
2007-03-05 19:04:34 · answer #2 · answered by STEVEN F 7 · 0⤊ 1⤋
If you take care of the check right away, and the overdraft charges, it should not show on your credit reports.
If you fail to make the check good, the check and the overdraft fees would probably be sent to a collection agency and then reported on your credit reports.
Also if you live in a state that the DA aggressively persues bogus checks, you may find yourself facing a stiff fine and possibly jail time.
2007-03-05 17:01:38 · answer #3 · answered by echo 7 · 2⤊ 0⤋
most banks give u a 30 days to pay them back, so u should be OK.. If u don't pay in 3 months or so then u could go to check systems and that goes on your credit report..
2007-03-05 17:17:42 · answer #4 · answered by shorty21 5 · 0⤊ 0⤋
Yep if done one too many times.
Be very careful. A bank can send you to what is called the chex system.
Takes five years to clear up.
Be careful and take time to do what you are not doing.
2007-03-05 16:54:19 · answer #5 · answered by Tazz H 1 · 1⤊ 0⤋
If not cleared soon enough; reported to the credit reporting agency, yes.
2007-03-05 16:44:39 · answer #6 · answered by sage seeker 7 · 0⤊ 0⤋
Absolutely, yes.
In addition to that, it's against the law to do it and there can eventually come criminal penalties, thou this is mostly reserved for habitual check bouncers.
2007-03-05 16:49:15 · answer #7 · answered by netthiefx 5 · 0⤊ 0⤋
the bank can send it to collection agency...sure will hurt you...pay it off "real" quick
2007-03-05 16:48:49 · answer #8 · answered by Michael K 5 · 0⤊ 0⤋
Yes !
Take a look there, it may help you : http://index-go.com/improve-credit-score-get-out-of-debts-fast.asp
Good luck !
2007-03-06 09:43:00 · answer #9 · answered by Anonymous · 0⤊ 0⤋
eventually yes. starts with teletrack.
2007-03-05 17:44:35 · answer #10 · answered by Ola 4 · 0⤊ 0⤋