Bounced Check services??

Question

Anyone service that is recommended?

Gene Hacker · Answer

Thanks Dale.  That makes sense.

I received a copy with notice.  I will call the issuing bank and as soon as there is funds I am good to go.

Dale Osborn · Answer

You would be wasting your time with a collection service. You have to sign the whole amount over to them. Then they try to collect and agreement you need to sign is they keep 60% and you get 40%. How do you know if they collected or not and kept the whole amount? First year as a landlord we tried it out and was a big waste of time. Now they give you a copy that you can take to the bank - when they have money in the account - you can then cash the copy. Just take it to the issuing bank to see if it will clear. If check is made out to a business name - it may cost you a $1-$5 fee to have a bank check made out to the business in return for the bad check copy.

Gene Hacker · Answer

I guess I should expand...I usually do not take checks.  This was a tenant that was moving out at the end of month, the rent was late and that is what they paid with (the lease said money orders or certified checks only).  Needless to say I wasn't surprised when it bounced.

I decided it was better to get them out, and let them go rather than risk having a bigger issue if they decided to go the eviction route.

We are in California and the check was for $700.00

Anyhow, I am just looking for recommendations for a collection service.

Joel Owens · Answer

Your rights will depend on your state and the amount of the check.

Why are you taking checks anyways?? I never take checks.Cash or money orders only.