Stop Payments on payday loans

[southernbelle66]

What is the name of your state? Texas
Is placing a stop payment on an online payday loan (not a store front-no paper check) the same as writing a hot check?......I am being threatened somewhat that it is but based on what my bank has told me, it is not...just wanted some verification.

Thanks!!!

 

[moburkes]

What is the name of your state? Texas
Is placing a stop payment on an online payday loan (not a store front-no paper check) the same as writing a hot check?......I am being threatened somewhat that it is but based on what my bank has told me, it is not...just wanted some verification.

Thanks!!!

Well, if you're stopping payment because you didn't have the funds, then, yes, it is just as bad.

 

[HomeGuru]

What is the name of your state? Texas
Is placing a stop payment on an online payday loan (not a store front-no paper check) the same as writing a hot check?......I am being threatened somewhat that it is but based on what my bank has told me, it is not...just wanted some verification.

Thanks!!!

**A: if you pay the loan as agreed, you would not be threatened correct?

 

[TigerD]

What is the name of your state? Texas
Is placing a stop payment on an online payday loan (not a store front-no paper check) the same as writing a hot check?......I am being threatened somewhat that it is but based on what my bank has told me, it is not...just wanted some verification.

Thanks!!!

Nope not the same as writing a hot check -- a hot check could be simple stupidity. The stop payment on the loan payment is simple theft.

Big difference between stupidity and theft.

DC