Being punished by a banking ban is no easy feat, especially in the times we are currently living in. This dire situation can happen to anyone. Here are some tips from real experience that are sure to help you.
Reasons for the Banking Ban
Many people have experienced this painful condition, but the reasons vary from person to person. Most people who haven’t experienced it think people with banking bans are irresponsible or immature. Admittedly, this banning from the bank is often the penalty for paying with a bad check, but when it comes to doing it, everyone has their own story.
For some, it’s due to poor investment placement. The project is to renovate a house so that it can be rented out. A faulty list distorts all forecasts. The bill was higher than expected after the extra plumbing. As a result, the funds available in the account are insufficient. After the misunderstanding, the company accountant still wanted to cash the check, but it was too early.
This is to explain to you that falling into this very common situation is not necessarily directly your fault.
find a solution
The first thing to do is to talk to your banker, but also consult an expert in order to give you the best possible advice. However, there are more common solutions. The easiest way to do this is to fund your account by any means possible and ask the entity or person you are dealing with to make a check on your bank representative.
This simplest solution is the only one that doesn’t require extensive hypervisors. This is the most mechanical process and only takes a few minutes on the phone.
Another less complicated process is to collect the check yourself from the service provider and pay by other means. Choose to pay by cash or bank transfer. This way, you can take the moment of payment with more peace of mind. This method just requires more effort than the previous method.
Not recommended solution
Your banker may advise you to establish a reserve on your account. It’s easy on your level because you don’t have to worry about anything anymore. Your bank will take care of everything. However, the process takes over 1 year even without your participation.
The fourth process, the most painful is to wait for it to pass, facing up to five years of creditors’ collection. This shows a serious lack of maturity. In a way, you don’t cover your debt by refusing to pay.