Questions about online payday loans?

Question by Tracy: Questions about online payday loans?
I have an online payday loan that is due soon, but I am not going to have enough money in the account to pay it back. It comes out as an ach debit. Once they put it through, can they keep putting it through until they get their money, or can they only put it through on that day and then get ahold of me to get their money?

Best answer:

Answer by Ask M
the bank will bounce it once, then probably try to put it
through again and bounce it, then notify the person
who is trying to put it thru. I had one that tried to
keep putting in thru 5 times even after I told them
I would make other arrangements, I ended up suing
them back for more than what I owed them.

So I advise you close your account because they will
keep trying to put it through and you keep getting
bounced fees.

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