The loan collector can collect from any account that you have provided access to.
It is not likely you will get a payday loan with just a prepaid account. In order to get a payday loan, you need some guarantee that you will get your next payday. Lenders will ask that have a steady job, an active checking account and possibly signed up for direct deposit too.
No! You must have a credit account!
It is quite tough to get a payday loan without a bank account but you can find some companies which offer these facilities too.
Go to fastcashreview.net and see some providers you can use to get a payday loan.
Can I be charged with bank fraud or any other criminal offense for closing an account on a payday loan?
There are many different varieties of ways that one can describe what a savings account payday loan is. The best way one can describe it is as cash advance that contains very high interest.
It is not likely you will get a payday loan with just a prepaid account. In order to get a payday loan, you need some guarantee that you will get your next payday. Lenders will ask that have a steady job, an active checking account and possibly signed up for direct deposit too.
No! You must have a credit account!
Savings account payday loans allows one to get payday advances. If one has an emergency, one can easily get a cash advance in a few minutes. The funds are then deposited in one's savings account.
It is quite tough to get a payday loan without a bank account but you can find some companies which offer these facilities too.
Go to fastcashreview.net and see some providers you can use to get a payday loan.
Can I be charged with bank fraud or any other criminal offense for closing an account on a payday loan?
trying to check this account
No traditional payday lenders will accept an AccountNow Visa card in the event that you don't have a checking account. Accountnow does offer a payday lending product, however, to cardholders.
Actually it is not easy to get apply for a payday loan without having a bank account. It is not like any other loan where a money lender can easily assist you. However you can try consulting payday lender offices.
Yes, however, the company is not likely to do so. Payday loans are generally less than $2,000 so most payday lenders will not go to the trouble to sue someone. However, what they may do is sell the bad debt to a collector and that collector may be willing to come after the debtor as collectors are set up for recovery via the legal system.
Yes, in fact it may be recommended. First, you should find out if payday lending is even legal in your state. Many states have made payday lending illegal. This means a payday lender could not legally collect from you on an unpaid payday loan. The only way to really stop a payday lender from taking money out of your account, is to close the account. Notify your bank about why you are closing your account. Be honest. Chances are, you are not the first for them. Prepare then for harassing phone calls from the payday lenders, which quite often violate the law themselves. You could file a complaint with the FTC and your state financial regulatory agency about harassing collection calls.