Final answer:
Writing a check with the expectation that it won't clear until funds are available is known as 'floating' and is considered check fraud, which is illegal. Electronic check processing reduces the time checks take to clear, increasing the risk of the practice failing. Using a credit card or negotiating with creditors is a safer alternative.
Step-by-step explanation:
The process you are describing, in which someone writes a check with the anticipation that funds will not actually be withdrawn until a later date when the funds will be available, is commonly known as floating a check. While this practice was more feasible when the check processing system was slower, modern electronic check processing has significantly reduced the amount of time it takes for checks to clear. Therefore, the chances of the check being processed before you have funds to cover it are now greatly increased.
Moreover, knowingly writing a check when you do not have sufficient funds in your account at the time of writing is considered check fraud, which is illegal. This is because it is intentionally attempting to deceive the person or business receiving the check as well as the banking institution.
Instead of risking legal consequences, individuals can explore alternative options like utilizing a credit card for purchases in a financial crunch, as credit cards provide a short-term loan (until your bill is due), or simply communicating with creditors to discuss payment plan options.