Electronic Check (How Are Insufficient Funds Handled)
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Posted by JulieA
(152.163.252.196) on June 20, 2004 at 01:37:53:
I screwed up royally and don't have enough funds to cover my mortgage payment which is processed electronically once they get it. I checked online and my payment to the mortgage company has posted to my account. When checks are processed electronically, what happens when the funds aren't there? Will I battle it out with the check clearing company or my mortgage company in most cases?
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