Reasons for Dishonored Cheques in the UAE
- December 31, 2020
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In UAE considers Cheques bounce cases criminal offenses against the drawer of the cheque who issued the cheque with insufficient funds in his bank accounts. However, there can be various reasons for dishonored or not accepted cheques. The debt collection Dubai can help you avoiding these factors to keep you from future troubles.
They have vast knowledge and credible expertise in this domain of the law. Moreover, they are updated about the new advancements of the legal issues. In addition to that, they know how to treat their clients with the utmost respect.
Reasons for Dishonored Cheques
The cheques issued by the individual is dishonored or not accepted by the bank due to multifold reasons. Some of them are mentioned below which you need to know before taking any legal step. Moreover, it is advised to take the help of a legal consultant.
- Insufficient Funds
The account holder does not have sufficient funds in his or her bank account is one of the main and obvious reasons for the dishonored cheques. So, the account holder must check it beforehand if they have the required amount or not. This way they waste the time of both the bank owners and the receiver.
- Forged Signatures
Sometimes, the signatures of the account holder are not correct and not accepted by the bank. There can be two cases for it as observed by the debt collection Dubai. The signatures can be forged or the account holder has made a mistake while signing the cheque for you.
In both cases, the cheque that you show is considered as dishonored and thus, rejected.
- Order from the Account Holder
In some cases, the bank has received an order from the account holder to not release the payment. This way, the bank is legally restricted from releasing the payment to you. This eventually dishonors the cheque and you cannot receive the payment unless the account holder gets their order back.
Therefore, if you find yourself prone to such conditions, it is better to seek legal help beforehand. The debt collection Dubai can assist you legally with their extensive knowledge and expertise. Moreover, they are available all over the UAE such as Ajman, Dubai, Fujairah, and other states of the UAE.
They are very careful about the privacy concerns of their clients. Moreover, they take care of the reputation of their clients.