4 ms·
> If you're bouncing rent checks because it took too long to clear, you have other issues and immediate withdrawal isn't going to save you anyway. I'm talking
by leetcrew 6y ago
> If you're bouncing rent checks because it took too long to clear, you have other issues and immediate withdrawal isn't going to save you anyway.
I'm talking about people who barely make enough money to cover their monthly expenses, so yeah that financial situation is hardly ideal. someone in this situation definitely does not want to set up autopay against their checking account.
it's a sort of death by a thousand cuts for people in this situation. you generally have to pay rent in advance (ie, you pay that month's rent on the first of the month). you get "paid" at the end of a two week period, but then it takes about a week for your employer to process payroll. if your employer doesn't do direct deposit, you now have a check in hand that takes about two days to clear. that two days isn't the bulk of the problem, but it can definitely be the straw that breaks the camel's back.