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If you have been issued a check and payment was stopped on it, you may be able to sue for damages. In order to do so you will need to file with the court, and must provide evidence regarding the check and your losses. In general, you can sue for the amount on the check as well as any additional damages.
A customer thus, has a right to give notice to his Bankers to stop payment of a cheque which he has issued. Generally a written notice, signed by the drawer is sufficient to stop the payment. A stopped payment is usually requested if the cheque has been declared missing or lost.
Generally, stop payments are used in cases when the account holder does not want the check to be paid for various reasons. Some of the reasons include stolen or lost checks, forged checks, insufficient funds to cover the check amount, or a dispute between the depositor and the party that was given the check.
Reasons to Stop Payment on a Check Incorrect information on a check. A check mailed to the wrong address. A lost or stolen check. Insufficient funds in a bank account. A dispute over a purchase or services rendered.
The good news is that placing a stop payment on a check or transaction does not directly affect your credit score. Credit reporting agencies do not include stop payments in their calculations when determining credit scores.
Dear Sir/Ma'am, This letter is to request you to stop the payment of the Cheque bearing no:____, dated:________. It's issued in favour of *cheque holder's name*, for the sum of *amount* As the Cheque is *mention the reason to stop the cheque payment*, I request you to stop the payment with immediate effect.
Please arrange to stop payment of the cheque(s) issued from my /our account. The details of the cheque(s) is /are given below. Account Number: Cheque No./Series : From to Cheque Date : Cheque Amount : Issued to/Favoring : I/We authorise the Bank to debit the Stop Payment Charges applicable from my/our Account.
To stop payment on a check, go to a bank branch or contact the bank by phone and speak to a human being, not a recording. Request a Stop Payment Order. Make sure to report the check number, the amount, the recipient's name, and the date on the check.