Being sanctioned by bank bans is no easy task, especially in this day and age. This terrible situation can happen to anyone. The following are some tips from practical experience, which will definitely help you.
Reasons for bank ban
Many people have experienced this distressing situation before, but the reasons vary from person to person. Most people who have never experienced it believe that people who are banned from banking are essentially irresponsible or immature. It is true that this kind of ban on banking is usually a fine due to cheque payment, but everyone has their own story there.
For some people, this is due to poor investment allocation. The project is to renovate a house so that it can be rented out in the future. The wrong inventory distort all forecasts. After additional plumbing works, the bill was higher than expected. Suddenly the amount available in the account is insufficient. After the misunderstanding, the company’s 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.
Looking for a solution
The first thing to do is to talk to your banker, and also talk to an expert, in order to provide you with advice as much as possible. However, there are more common solutions. The easiest way is to replenish your account by any means possible, and ask the entity or individual you deal with to check on behalf of the bank.
The simplest solution is the only solution that does not require a lot of management procedures. This is the most mechanical process and only takes a few minutes on the phone.
Another process that is not very complicated is to collect your check from your provider and then pay by another method. Choose to pay by cash or bank transfer. In this way, you can rest assured when paying. Compared with the previous method, this method only requires more effort.
The solution is not very recommended
Your banker may suggest that you establish a reserve in your account. As far as you are concerned, this is easy because you don’t have to worry about anything. Your bank will handle everything. However, even if you do not participate, the process still takes more than 1 year.
The fourth and most painful process is to wait for it to pass and face the five-year reminder from creditors. This marks a very lack of maturity. To some extent, you are not taking on debt by refusing to pay it.