Back in the day such rescue remedies were not possible. As a result, many mom and pop stores went bust. So too, the good old fashioned habit of keeping credit books for local customers. Trust went out the window. It hurt the store keeper to turn away locals because, after all, he was losing business anyhow. But as a businessman, he had to put a firm foot down. So, the good old credit bookkeeping practice was closed for good.
Fortunately, local banks could now come to the rescue. Clients were encouraged to open bank accounts and because they already had a mortgage to pay, their property could be bonded. In this regard, they could now secure credit lines, limited or extended, to make purchases on those occasions when they were experiencing cash shortfalls. Privileged and reputable clients were offered checking accounts.
For their own convenience, they could then dangle their check books across the store counter, sign on the dotted line and gleefully walk away with their parcels. But then the month-end came and the small store operator was in for a shock. The promised payment never materialised. The bank could not and would not oblige with the small business’s check recovery. In later years, all this changed too.
Today, rescue remedy packages by way of the small business check collection service came into being. A lending and helping hand is extended to all who do not have the resources to reject checks outright. These services take care of worse case scenarios where checks bounce. No losses are incurred by the small business operator and all costs incurred are passed on to the responsible bankers. These services also like to educate their clients on how they can avoid such delinquent payments before they occur.