The act of writing bad or dishonored bank checks, especially out of habit or as a criminal profession. Often written as a single word. Apparently there's been a huge volume of paper hanging going on around the state recently. Businesses have started refusing to accept checks as a result. I did a little paperhanging when I was younger. Nothing too serious, mostly just to pay for groceries when I was low on cash.
n. writing and spending bad checks. (Underworld.) She was accused of paperhanging and didn’t even know what the cops were talking about, so they let her go.