Payday loan not paid back!

[Tiff101]

What is the name of your state?SC

Will I go to jail if I don't have the money to pay a payday loan back?

 

[Heather2]

What is the name of your state?SC

Will I go to jail if I don't have the money to pay a payday loan back?

I doubt it but if they automatically deduct their payment from your bank account, I would close that account immediately or they will keep taking money out.

 

[jpritchett81]

I doubt it but if they automatically deduct their payment from your bank account, I would close that account immediately or they will keep taking money out.

What kind of advice was that??? If he closes the account...all they have to do is send him/her to collections for the amount.

Anywho...here is some info I found about payday loans in SC....hope this helps. I'll find more later on....

http://www.scjustice.org/pdfs/payday_.pdf

 

[Heather2]

What kind of advice was that??? If he closes the account...all they have to do is send him/her to collections for the amount.

Anywho...here is some info I found about payday loans in SC....hope this helps. I'll find more later on....

http://www.scjustice.org/pdfs/payday_.pdf

Good advice. I stand by what I said. He should close that account so they can't keep taking money out. Obviously he can't pay it so of coarse it will go to collections but he won't go to jail which was his question.

 

[Tiff101]

Thanks for the Info.

Thabks a lot for the information I have recieved!

 

[jpritchett81]

Good advice. I stand by what I said. He should close that account so they can't keep taking money out. Obviously he can't pay it so of coarse it will go to collections but he won't go to jail which was his question.

The reason I why I said that....because what you suggested was illegal. You can get into serious trouble and face various fines writing checks on a closed account. Or closing an account after presenting "payment".

 

[Heather2]

The reason I why I said that....because what you suggested was illegal. You can get into serious trouble and face various fines writing checks on a closed account. Or closing an account after presenting "payment".

Maybe you're right but when the place I got a payday loan from wouldn't stop taking the money out after I told them to stop it was my bank that actually recomended I close that account.