| How can you bounce? | | | | Authorization Network, or Telecheck. This will have |
| A bounce occurs when you write a check to | | | | adverse affects in the future. Banks might even be |
| someone else and when that person tries to deposit it, | | | | hesitant to let you have a checking account. |
| there are insufficient funds in your account to cover | | | | - Some merchants, after receiving bad checks from a |
| the amount owed. Back when technology was less | | | | customer, might not be willing to accept anymore |
| advanced, many people would write checks and float | | | | checks from that customer any more. |
| them. Floating a check means intentionally writing a | | | | - Bounced checks will often stay on your credit report |
| check that you know you have insufficient funds for in | | | | for seven years as a mark. |
| the hopes that your check will clear once you have | | | | - Bounced checks also stay on your criminal |
| deposited money into your account after writing that | | | | background because it is considered a criminal charge. |
| check. But with electronic clearing in today's world, they | | | | - Your bank might pay the difference that your |
| are processed much quicker. Therefore, it is very easy | | | | account cannot cover and charge you an overdraft |
| to bounce a check. | | | | protection fee. The bank will then charge you an |
| What are the consequences to bouncing? | | | | overdraft fee. Usually these fees can be as much as |
| No one likes having insufficient funds. It negatively | | | | fifty dollars each time you overdraw your |
| affects your credit score and it is embarrassing. But | | | | account.These are just a few of the possibilities that |
| when it does happen, the consequences can be minor | | | | may happen if you have bounced a check. In the |
| or substantial | | | | future, try to know how much you have in your |
| - You will most likely be charged a returned check fee | | | | account before you write a check for a large amount |
| from your bank. These fees can usually be costly | | | | of money. If you have bounced many checks and are |
| especially if you have low funds. Most banks will | | | | in debt that you cannot pay, filing for bankruptcy might |
| charge a minimum of twenty five dollars. | | | | be the best option. Visit the South Florida bankruptcy |
| - You may be reported to an organization like: Check | | | | lawyers of Eric N. Klein & Associates, P.A. today for |
| Connection, Chex System, Shared Check | | | | more information on bounced checks and bankruptcy. |