Why Spend Your Valuable Time Trying To Collect Returned Checks?
You can let a bad check recovery service do it for you! When your customer bounces a check, your bank forwards the returned check to the bad check recovery service that you have chosen to represent you. The check is entered into a database and re-submitted electronically via the ACH network. If an item bounces again, the bad check recovery service then re-presents the check when funds are available.
You can even make a profit from your bad check recovery service. All that is required is that you post a notice stating that your customer acknowledges (by reading the posted notice of your policy for returned checks) that the maximum fee (less, if you prefer) allowed by the state that your business resides will be assessed for all returned checks. Then, when funds are available, you collect the face amount of the check. You then assess a second debit for the allowed state fee. Example: Texas allows a fee of $30.00 for returned checks. Your electronic bad check recovery service can collect the bad check electronically (Lets say the check was made for $150.00). Then, a second debit for $30.00 can also be...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
