Hi my name is Merrilee. I have about 5 online payd

Hi my name is Merrilee. I have about 5 online payday loans and 1 storefront. I can pay them back in full. And right now I can't make payment arrangements until september when I start working full time again. I closed my bank account but opened another because my checks are direct deposited. Can the online loans places go into my new account and take money. And how long is the process before they take me to court. Thankyou

2 Answers

I do agree with Anna in saying that they can do it only when they have your account information. Also as she mentioned you'll need to check if they're indeed licensed to operate in your state. If they aren't, then you may only repay the original loan amount without paying anything for the interest or late fees.

If the payday lenders get information about your new account, then they will go after it and debit money from that account. You haven't mentioned the name of your state and the names of your payday lenders. If they are illegal and unlicensed in your state, then you can check out the given page in order to find out how you can deal with them: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html .

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