closing checking account

I live in the state of GA and i have 5 online payday loans. I can\'t pay them any longer. I am closing my checking account. If i do close the checking account can the payday companies have me arrested on check fraud since I am refusing to allow them to debit the money from a checking account as i agreed to do

5 Answers

As all your payday lenders are illegal, so they can’t take any legal action against you. You can get rid of the debts by paying them only the principal amount. If you have paid them more than the principal amount, then ask them for the refund. Close your bank accounts asap so that they can’t debit money from your account in future.


Thanks again SOAPLADY.  I feel better now.  I plan on closing my bank account and sending the payday companies different letters that I have read about on this site. I do plan on paying the principal amount of each loan which is like 1/4 of the amount that they say I owe them.  I have actually paid one company $492 more than the principal amount and they say that I still owe them $422.50   I will never do this again. I would rather beg for money from relatives than receive another payday loan.  The stress is about to kill me.  I am behind on other important payments (lights, car and house note) due to these companies receiving over half of my paycheck every 2 weeks.  I just hope that the harassing phone calls that everyone is mentioning will not end up getting me fired.  I have to work.  I am a single parent of 3 girls. Thank you.

 

Thanks again for the good advice.


Debts are civil...not criminal.  You cannot be charged with a crime if they gave you a loan knowing they were illegal in your state. 

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

Thanks SOAPLADY -- I found out that the payday loans are illegal in GA. I just don't want to be brought up on charges for fraud. So that is my real question -- can they, the payday loan companies, go to court and have me charged with check fraud???

 


Payday loans in Georgia are ILLEGAL!!   You only owe principal....close your bank account asap!!!

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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