Q&A: I have quite a few internet payday loans. They take the money right out of the bank?
Question by Answer Man: I have quite a few internet payday loans. They take the money right out of the bank?
This was stupid but we were desperate. What happens if I close my bank account. Can they come after me for fraud or can I deal with them some other way than direct withdrawl from my bank?
Answer by wizjp
If you gave them a security interest and then close the account knowing the note is out there, it’s fraud. Contact them about any payment options; but I bet they keep doing what they do,
What do you think? Answer below!
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they willl just keep trying to debit your accounts until they are told that the account is closed
No fraud if you pay as agreed – always keep lines of communication open
They can sue you for what you owe.