Returned Checks

[lclandscapes]

Gotta ask. How would you guys handle in a 2 week period getting one check returned NSF for $47,000.00 and then getting another check returned NSF from another customer for $13,850.00? I am losing my mind over this. hard for me to take a $60,000.00 hit in two weeks. SUggestions - after these come in I will post what I did.

[vaughnslawns]

A GUN

[Scaper-S2k]

I would have called them and told them what happened. Then asked for a cashiers check from their bank.

The 2 incidents aren't really related, so maybe you just got 2 bad screw ups in a short time frame.

[Seascape]

My accountant would work on this for me actually,, I assume he would work it dilligantly starting with phone calls and form letters.

I would waive any fees if the problem is cared for within 24 hrs. By extending this understanding I would have a pretty good Idea whether this was a mistake,,, or a bigger problem after that 24 hr period.... I would have a better hunch. I would be more concerned hours 24-72 than I would 1-24.

Its rare checks of that caliber bounce.

[yardboy]

Punch them first to the groin, then uppercut. The hospital will then have to dig my shoe out of their a$$!

[clclawn]

I would go to there bank to see if its good now, if so cash it, if not they would have about 12 hours before I killed them.

[Stephen M.]

In WA State, its a serious crime to write an NSF check in excess of $250. Is this just a WA thing, or would the Federal banking laws also apply in the same situation?

According to Federal banking laws, a check has too be good on the date of issue, therefore you can't post date a check like in the "olden days".

If I was you, I'd take them to your local district attroney office for them to look into it for you to see if any laws were broken.

[clclawn]

ok, now how did you handle it?

[Scaper-S2k]

for jobs of that size shouldn't you have collected half up front or at least enough to cover your $ investement in the jobs? At least that way you don't lose as much...

He might have collected 1/2 up front. Maybe the job was almost $100k.


This may vary by state but in Ohio, you are only allowed to ask for a certain amount up front. Actually, it's quite low at 10%.

They can give more, but you can't ask for more. However, you can ask for payments as the job progresses. But there are also limits on that as well.

[lclandscapes]

ok, now how did you handle it?

Well, first off in the state of South Carolina, anything over $500 is a felony on NSF checks. By law I have to give both parties a certified letter stating that the check was returned NSF and they have ten days (not business days) to make the check good. One of the checks I got back the individual did call me and tell that the check bounced and am meeting tomorrow to get a certified check from his bank. I have to give this person credit for calling and telling me. The other SOB has given every excuse you can think of on why the check bounced, and my bank has already verified that the funds were not good before they sent the check back thru. The 2nd individual has until Tuesday at 10am to make good, otherwise its off to a free vacation thats all inclusive of food, drink, and the local cell block pimp. The sheriffs office here already has the warrant in hand to proceed. If it hadnt been for one of project managers, I would be in jail and the 2nd guy would be in 6ft under. I worked with the first builder, mainly cause he called and was honest about it, and we have a very good business relationship. First time in 3 years that that ever happened with the first builder ($47,000.00 check). The other guy - I wouldnt even piss on him if he was on fire.

[lclandscapes]

[QUOTE=Scaper-S2k;175083]He might have collected 1/2 up front. Maybe the job was almost $100k.


We normally do get a 50% deposit from homeowners, however builders here are very unlikey to give a deposit. SOme builders will give us a 25% deposit, but we usually finish jobs in a week to week and a half depending, so by the time a submit a draw we are done with job and get paid 1 to 2 weeks later.

[Scaper-S2k]

Well, at least the first guy realized his mistake. Some of those builders have it tough. Many are good guys but they get so caught up in their current project. I could see them having a few hundred thousand in the bank and then start writing a lot of checks in a short amount of time when the project is almost done. He may have simply lost track of what was coming in and going out.