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Processing Information
Reporting to the Credit Bureaus:
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Once your dishonored check is placed
in our system for collection, you have 90 days to pay the balance in full
before the check is reported to the credit bureaus, Trans Union and Experian.
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If your check is reported to the
credit bureau, and then closed because of payment in full or bankruptcy, we
report this status to the credit bureaus within 30 days of the closure.
The track remains on your credit bureau report as closed.
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If your check is reported to the
credit bureau, and then closed because of client request, forgery, or
statute of limitations, we report this to the credit bureaus within 30 days
of the closure and remove the track from your credit bureau report.
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If you believe a track is placed on
your credit bureau in error, please contact the credit bureau agency and
file a dispute. They will forward this dispute to us and we will respond
accordingly. This is the most efficient way for dealing with disputes.
You are welcome to call us and we will help in any way we can, but the best
way to make sure the information is corrected by the Credit Bureau Agencies
is to use their dispute processing.
EFT Processing:
If your check is returned for insufficient
funds, your dishonored check will be represented to your bank up to 2 times
including the service charge. We will be unable to accept any other payments on
checks in this process until the process is complete. When you purchase
something using a check at any our client locations, there is a notice posted
informing you of this process.
Our check acceptance policy, posted at
each client location, is as follows:
By paying for
your purchase with your check, you are accepting our check acceptance
policy. In the unlikely event your check is returned unpaid, you understand
and agree that your check may be electronically redeposited or redeposited
by paper draft if necessary. You understand and agree that we may
collect, by the same means, a returned check processing fee of up to
$40.00
or as permitted by law. Civil penalties, which
may include attorney fees, court costs and treble damages pursuant to state
statute, may be sought upon dishonorment.
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This process can take up to 4 weeks to
be completed.
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Your account will not be reported to
the credit bureaus during this process.
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Until the process is complete, we can
not accept any other form of payment.
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Even if your bank informs you that the
process is complete, or you know that the check will not be honored when
presented through this process, we still must wait for the process to
complete before any other collection action can be taken.
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Once the process is complete, if your
balance remains outstanding you will receive a notice via mail requesting
payment in full.
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