bluedg85 asked:
I gave them my checking account number, thats how they deposited it in my account. About 3 days later after them depositing money into my account I had 50 bucks missing from another company. I called my bank and told them the situation, they closed my checking account and opened up a new one. Will the pay day loan service be able to take from my account even thou its new and they have no knowledge of it?
I gave them my checking account number, thats how they deposited it in my account. About 3 days later after them depositing money into my account I had 50 bucks missing from another company. I called my bank and told them the situation, they closed my checking account and opened up a new one. Will the pay day loan service be able to take from my account even thou its new and they have no knowledge of it?
Tags: Checking Account, Knowledge, Loan Company, Loan Service
June 8th, 2008 at 9:20 am
just repay the damn loan. yes, they can come after you and garnish your wages - just like any creditor. meanwhile, interest is accruing at more than 100% APR.
June 10th, 2008 at 10:10 am
No… because it is new and the only records they have is for your old closed account.
But make sure to pay them back on time… they will find you, unless you intend to move within the next week without leaving a forwarding address. And even then they will find you… because they know where you work.
So, do yourself a favor and forget all ideas about not paying them back and getting away with it. You can’t and the longer you wait to pay them back the more fees and interest charges they will add.
Pretty soon you are required to pay them back 3 to 4 times of what you borrowed from them and yes, they can get a judgement and garnish your wages. Then you will see them take the money out of your paycheck and they will do it forever and ever because every week they will add even more finance charges and fees to the balance.
June 13th, 2008 at 1:39 pm
bluedg85, Be careful if you need to apply for an online payday loan. Each state has different laws and regulations, and I’m not familiar with the all the rules and regulations. Maybe you can find a local cash advance office so you can get advice before taking out the loan.