Monday, December 1, 2008

Question

I don't get paid until December 15. My rent is due no later than December 3. I have to make a hot check to pay my rent. If anyone has made a hot check before, can you tell me what will happen? Will it cause problems with the landlord? Also, once you give a hot check, how many times will it bounce and how much does it cost every time it bounces?

Thanks for your help.
XX

12 comments:

Myra said...

It will cause way more problems than you think! Not only will it bounce with the landlord, your bank will charge you an overdraft fee every time the check is presented, which could be as much as $50 each time! If it is presented twice, thats $100, on top of your rent. Your landlord can also not accept checks in the future. AND it is illegal! Why not talk to your landlord and explain the situation. Honesty is always the best policy. Good luck!

Chrissie said...

Don't write a bad check. IF you do that you'll have problems with your credit, the bank and the landlord.

I think you should talk to the landlord too and just explain.. maybe he will let you POSTDATE a check for the 15th instead. You know where he won't deposit it until then.

My daughter is under a lease and if she goes over the due date it says in her lease there is just a charge. Maybe you need to see if you can just pay a little charge to put off the payment to the 15th.

Good luck.

Take care, Chrissie

Robin said...

I agree. I once wrote a bad check, not intentionally but the money I anticipated being in there was late getting in (a floating check I suppose, that missed, dinged, and went bad). Some states can require you to go to classes even, per courts and such (mine did not, but I got threatening calls for months, even after I'd covered it). It can keep you from being able to write checks at other locations, too (stores and such) (not an issue for me as I rarely do that, and that was years ago), and the fines, oy. Their bank, your bank, can all charge fees, and that can make your other items bounce, you could end up owing hundreds. Plus legal fees. Check it out for Texas, but really, writing a bad check is considered much worse than other things such as a credit card not honored, or a missed rent payment, in terms of how it's looked at, legally.

Sugar said...

never write a hot check!!!
instead talk with the landlord, explain, & ask if you can post date a check & will he hold it for you.
have a good week.

Kat said...

Hi Win,
I wouldn't write a hot check. For one thing the landlord will be charged at their bank a fee then the landlord will turn around and charge you and it makes your credit look bad and you will have problems renting another apartment. It would be easier to talk to the landlord instead of worrying about it bouning.

MISSY said...

I work for the bank Winivere. let me tell you, these are the calls I hate more than anything. It's sad because that one check can cause a chain reaction of bank fees.

Scenerio 1:
The bank decides not to pay your check. It's returned and your Landlord doesn't get his money. He deposits the check and spends money off it. It's then returned from his account and he gets a returned depoit fee plus Overdraft fees for everything he spent off that check.

Not only that but most banks can attempt to resubmit a check up to three times. That's three fees that you just received (usually around 35.00 a piece) if it's returned each time.

Scenerio 2:
The bank pays the check. You are charged a fee. You don't get paid until the 15th so your account sits negative for 15 days. Some banks charge daily fees to a negative balance and/or a collections fee. Plus anything that posts to that negative balance will get a fee.

Scenerio 3:
You write it, it's paid. You get a fee. You happen to bank with a bank that don't charge a lot of negative balance/and collection fees and all you will owe is the amount of the rent and the fee.

It's a risk you're taking. A BIG ONE. I understand some people have no other options though. Maybe you could talk to your Landlord?? *M*

It's Just Me ~ Katie! said...

Say what? Oh my dear friend NOOOO, my suggestion would be to ask if you can pay what you can now and the balance on the 15th. Most landlords understand and give a leeway of a couple of days anyway. I'm sure they will understand with your new job and all. I know times are tough all over but someone has to have a soft heart (hoping your landlord is one of them). Take care with hopes everything works out in your favor.
Katie

Anonymous said...

My dear friend, PLEASE don't write that cheque...It is teh very worst thing you coudl do. All your other friends have also given you the reasons...I know your landlord is not very obliging so maybe he will not be very kind but it is your only chance, would it be at al possible for our new employers to give you a bit of your pay early if you plead your case ! You are in my prayers Love Syil x

LYN said...

at least $30 a pop in non sufficient funds..better to be up front with landlord and offer a late fee..will be cheaper than bouncing a check..trust me!!

Missie said...

I agree with Myra. Explain the situation to your landlord. Do not write a bad check!!

Good luck.

Bethe said...

I think you should do what Chrissie said. Talk to your Landlord & Post date a check.

hugs*

Nancy said...

Hey, so what did you do about this? Did you write the check or figure out a better way to pay?