Ted Barton Credit Services Inc.
Ted Barton Credit Services Inc.
EVERYONE IN BUSINESS NEEDS
A FULL SERVICE CREDIT OFFICE !!
A FULL SERVICE CREDIT OFFICE !!
EVERYONE IN BUSINESS NEEDS
A FULL SERVICE CREDIT OFFICE !!
A FULL SERVICE CREDIT OFFICE !!
CHEQUES - TAKE 'EM OR, BE TAKEN?
By: Ted Barton FCI CCCE
There really is an underworld out there! You know all about it if you’ve ever been stuck with a few NSF cheques. But think of it for a moment. The first thing to learn is the simple fact that there are plenty of people who will buy products from retailers with absolutely no intention of paying for them!
Even more naive is the thought that any of those bad cheque writers are going to scurry into your store - red faced and in a big fluster to replace the bad cheque with cash! The bad guys are clever, know what works, and they don’t care about you! Usually they write bad cheques for small things, sort of pretending that they didn’t really know the account was closed over a year ago - or simply couldn’t believe the account was empty!
Retailers contribute to this problem by accepting cheques - often without a glance, and from just about anybody who walks into their store!
It would be nice to think that the police care but they don’t - they already have too much to do - and you can’t blame them. (Get an NSF on a closed account for $5,000 and they will become interested.)
When people are upset with bad cheques, they usually have only themselves to blame. You don’t have to accept a cheque for a cash sale from anyone! Particularly when credit cards and "Interact" are a way of life nowadays. Also, if the customer doesn’t have a credit card to use, be doubly aware that something may be wrong. Not too many old “I-Pay-Cash” people left in this economy!
“I’LL PAY CASH WHEN YOU GET HERE” (oops! .. I MEAN CHEQUE )
We have all seen the classic case of a purchaser who calls an order from a phone booth, orders, say, anywhere from $500.00 to $5,000.00 in a mixed load of lumber, plywood, etc., and tells you its OK because they will give your driver a cheque for the full amount. You know what happens next right?
You drop the load at a house where the old couple who own the place are conveniently away in Las Vegas, your driver takes the cheque as instructed, brings the cheque back to you and you send it off to the bank - only to find out three days later - long after the material has disappeared - that the cheque was drawn on an account that has been closed for three months. Sound familiar? Sure it does!
By: Ted Barton FCI CCCE
There really is an underworld out there! You know all about it if you’ve ever been stuck with a few NSF cheques. But think of it for a moment. The first thing to learn is the simple fact that there are plenty of people who will buy products from retailers with absolutely no intention of paying for them!
Even more naive is the thought that any of those bad cheque writers are going to scurry into your store - red faced and in a big fluster to replace the bad cheque with cash! The bad guys are clever, know what works, and they don’t care about you! Usually they write bad cheques for small things, sort of pretending that they didn’t really know the account was closed over a year ago - or simply couldn’t believe the account was empty!
Retailers contribute to this problem by accepting cheques - often without a glance, and from just about anybody who walks into their store!
It would be nice to think that the police care but they don’t - they already have too much to do - and you can’t blame them. (Get an NSF on a closed account for $5,000 and they will become interested.)
When people are upset with bad cheques, they usually have only themselves to blame. You don’t have to accept a cheque for a cash sale from anyone! Particularly when credit cards and "Interact" are a way of life nowadays. Also, if the customer doesn’t have a credit card to use, be doubly aware that something may be wrong. Not too many old “I-Pay-Cash” people left in this economy!
“I’LL PAY CASH WHEN YOU GET HERE” (oops! .. I MEAN CHEQUE )
We have all seen the classic case of a purchaser who calls an order from a phone booth, orders, say, anywhere from $500.00 to $5,000.00 in a mixed load of lumber, plywood, etc., and tells you its OK because they will give your driver a cheque for the full amount. You know what happens next right?
You drop the load at a house where the old couple who own the place are conveniently away in Las Vegas, your driver takes the cheque as instructed, brings the cheque back to you and you send it off to the bank - only to find out three days later - long after the material has disappeared - that the cheque was drawn on an account that has been closed for three months. Sound familiar? Sure it does!
E-Mail: Ted@Ted-Barton.com
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