Payday loans question?

Question

My friend has to pay 94 dollars or else he goes to jail. He has a savings account but not a checking account. Is there any companies that he can get roughly 100 dollars from without writing a check? Can he write a check from his savings account? He makes roughly 2,000 a month. We're outside of seattle, wa

Answer 1

You can't write a check from a savings account. You can only write a check from a checking account. Does he have money in this checking account? Why can't he just go withdraw the $100?

I seriously doubt the payday loan folks will be able to put him in jail if he doesn't pay. We don't have debtor's prison in the US. Typically the payday loan place already has access to your bank account. Did your friend close that account?

Payday loans are bad. The interest rate is like 600%. If you don't pay, the collectors are very nasty and don't mind breaking the rules. The normally require access to your bank account and make you sign an agreement to allow garnishment of your wages if you don't pay. Thus they don't bother with credit checks.

You friend needs to pay this off. He needs to find the cash some place other than another loan. Have a garage sale, pawn something, sell blood, collect alum cans, get a second job -- pizza delivery has flexible hours and you get tips.

Answer 2

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Answer 3

You can't write a check from a savings account-but you can go to the bank and make a withdrawal. If you need it right now-best to borrow from someone. Or borrow smaller amounts from a few people. A payday loan store is going to cost him alot more than he realizes.

Answer 4

That's a pretty small amount of money. Can't he borrow it from a friend or family member? It would be a lot better than getting involved with a payday lender.

Answer 5

tell him to try and borrow the money its not even worth getting a pay day loan for that amount of money the interest will kill him believe me ive been there.