Question About payday loans..........PLEASE HELP.................?

Question

I made the mistake of getting a payday loan thinking i could re-pay it......well i lost 3 weeks of work being ill...now i don't have the money to repay it........if it goes through my account will bounce......what will happen if i close my account???? I don
t want to but have gotten myself in too deep......oh and the loan is 250.00 Please only serious answers...i am really scared.

Answer 1

nothing will happen ;)
nothing wil happen if you close that account
only thing is that you can't go there next time...

i mean they cant do **** to you lol

Answer 2

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RE Question About payday loans..........PLEASE HELP.................?

I made the mistake of getting a payday loan thinking i could re-pay it......well i lost 3 weeks of work being ill...now i don't have the money to repay it........if it goes through my account will bounce......what will happen if i close my account???? I don
t want to but have gotten myself in too deep......oh and the loan is 250.00 Please only serious answers...i am really scared.

Answer 3

Well if you close the account basically you have written a check on a closed account, in which case they can take it to court, have a warrant sworn out for your arrest for fraud. Have seen it in the newspapers, then above all the fees, you will also have court costs, and if not paid, jail time. Better off losing the money and hopefully you have overdraft protection so the check will be covered, for a fee of course. Chalk it up to an expensive lesson learned, stay away from Payday loans, they are a vicious trap.

Answer 4

You can go and basically renew the payday loan. You will only pay the fees and that loan is renewed for the length of time stated. You need to do this before they deposit the check.

As soon as you get the money go pay it off even if it puts you in a bit of a bind. And never take another payday loan.

Do not close your account. You will get in trouble for check fraud. (hanging paper)

If you can borrow from a friend and make payments to them do that. Payday loan places are the biggest rip off going.

Answer 5

if it goes through my account will bounce
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PayDay loan companies will try to debit your account multiple times....Each time could cause an NSF fee....If you account goes negative, this could trigger even more NSF fees. As you may know, banks are making a killing off of us with huge fees for bounced checks....now in the $39 range. A series of bounced check fees could easily surpass your existing debt of $250. You may want to think about closing your bank account if this loan company has your bank transit number and checking account number.

Answer 6

Close your account immediately and re-open a new one.
Ask them for their SS# or State ID # and their physical
address and who they Bank with and if they ask WHY
you need that information, say your lawyer needs it, and you
will not pay them until they provide the information. Most likely you won't here from them again and if they put it on
your credit report then write to the Agencies and tell them
that is was a cash advance and the Company will not provide
theire SSN# or State ID # that proves that they are a legal
and ligitimate company and that if the credit reporting agencies will not remove false information you invoke your
rights to sue

www.creditinfocenter.com

Answer 7

that is really bad. those payday loans charge a whole **** load of interest! you might have to owe like 500 or more now. th'ats pretty bad. try asking your parents or close friends for a loan, and you'll pay them back. that is better than paying a whole **** load of interest.

Answer 8

my friend had 3 payday loans out and owes all 3 companies. they just keep calling and sending tons and tons of letters. they will work payment arrangments and if you dont do that they will take you to court. they took her to court and all the judge did was tell them to work the debt out amongst themselves. she never paid them after that and they put it on her credit.

Answer 9

OK DO NOT CLOSE YOUR ACCOUNT!!!!! First go and talk to the pay day load company, tell them your situation, and make a deal with them, tell them the truth!

Answer 10

If you close the account, they can get you for fraud. Can't you talk to them, they should give you more time if you are open and honest. I would try it and I will be praying for you.