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Choosing a check recovery service

• Ask if the check recovery service recovers just NSF checks or also accepts stop payment and closed account checks.  Full and well established companies recover all types of checks and may even offer an e-check collection service.

• Are "consolidated returns" available?  Companies with large numbers of bad checks often quality for this service and it is something to demand from a check recovery service as it can lower your bank fees to approximately $1.00 per check.

• No check recovery service can collect every submitted check.  What does the service do with checks it cannot collect?  Are these outsourced to another agency or turned over to another collection process "in-house"?

• Can the check collection service provide you with a "demo account"?  If you are interested in a free demonstration for check recovery, please contact me (Brad Price) at 574-875-9994 or e-mail at bumchecks@bumchecks.com.

• Is "digital imaging" of the check available?  You should be able to see, print, and do specialized searches for the bad checks you have submitted for collection.

• If some of returned returned checks were written for more than $2,500 a collection process other than RCK (re-presented check entry) will need to be used.  Ask how these checks are processed and see if there is a fee.

• Does the collection service do any negative database reporting?  If so, which one(s), and at what stage is it done in the collection process?  Does the service report bad check writers to credit bureaus?  If so, which ones and when?

• How many letters are sent to bad check writers?  Is a sample available?  What else is done besides contacting a bad check writer by letter?  What if the letters do not work? 

• Will the check recovery service work with your local District Attorney office to collect bad checks?

• Do you have the option of sending in the bad checks you want collected or letting your bank send in all your bad checks?  Some business owners live in small communities and want to determine which checks they submit for collection.  Be sure the check collection service is flexible enough to meet your needs.

• Is the service authorized to collect checks throughout the United States?  Some check recovery services only work in a limited number of U.S. states.

• Does the check recovery service charge for its service? 

• What if you wish to terminate the service?  What is the procedure and are there any termination fees?

• Is any special equipment needed for collecting your bad checks?  What if you need some of your submitted checks returned?  How fast and how often is your money returned when checks are collected?

• Does the company offer prospective clients about the state bad check fee charged to bad check writers? 

• Must your business have a minimum number of bad checks to quality for the check collection service?  Does the service require that certain information be on every check you accept?  If it does not, it is very useful for a check collection service to have the driver's license of a bad check writer.  It can really aid in the collection efforts if the collection services engages in negative database reporting.

• Is the check recovery service just a collection service for bad checks or can it collect on other things like accounts receivables?

• Does the check recovery service allow you to read about all it offers and then sign-up on-line?