Can I close my bank account to prevent payday loan company from taking money out of my account
Leesville, LA |
i am in debt with a pay day loan . as of right now, its not much around 300.0 dollars . however i am between jobs and need a little time to pay it back. i want to close my bank account so i can eliminate futher debt with the bank. so my question is , is me closing my account illlegal
You can close the account but if they keep getting uncollectable checks written before the closure they'll kep charging you. Plus the already outrageous interest rate for your payday loan will just explode. better find another solution.