Unpaid invoice, cheque bounced what next?

W

Winifred

Guest
Hi, hopefully someone has some advice! Short version:

I sent goods to a company, company didn't pay and I forgot about it. 6 months later I finally get around to hassling them and after a bit of work they returned some of the stock (we do SOR) with 2 cheques postdated. I lodged cheque 1 and it bounced, contacted company and no response via phone or email. I think they're not doing very well and am concerned they're going to go bang without paying up. I still have the second cheque for the other half and I know I can go to their bank to cash it but it's an hour away and I'm worried they won't have the money anyway.

How can I deal with this?

Many thanks
 
Very little to be honest.

You could try asking your bank to see if there is any point in presenting the cheque. They used to do in the past, but I am not sure if they still do it.

A cheque is an acknowledment of a debt, so it makes suing the creditor much easier. They can't dispute that they owe you money.

However, there is no point in going to the expense of a getting a court order if they are going bust.

How much is it?

If it's a large amount and it's a limited company, you could ask your solicitor to petition for their liquidation. This may prompt them to pay you.

Brendan
 
Can you just call around to them to start.
You will at least see what the setup is, if its still there of course.
I mean a friendly visit to chat with them if they are there. Obviously go unannounced.
In the times we are in, probably dont have the money, but you might get something.
good luck
 
If the business is a retailer, go to their bank on a Tuesday morning and try and get it cashed (this is the day the credit card money is automatically lodged from teh weekend)

If you are on good terms with your bank, they may call the other bank and ask if its worth lodging and without breaking confidence, you may be "advised" to lodge it on a particular day or even send it "for collection"
 
It would be worth going to the actual bank where the cheque is drawn from, if funds in the a/c it will be taken out of theirs straight away but will take a few days to reach your a/c, otherwise by the time the cheque clears the money mightn't be still there
 
btw - you can still claim on cheque number one - unless the cheque has "payment stopped" on it. So that's the first one you need to be trying to cash and if possible, cheque number 2 too at the same time.
 
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