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If you have a 700 dollar loan that was due two weeks ago and the payday loan company said they were going to cash your blank check a week ago but never did how much time do you have to pay them back?

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Wiki User
2005-10-06 19:19:44
2005-10-06 19:19:44

Check the fine print on your contract. Most Payday companies can LEGALLY charge up to 30% interest, so you need to clear this ASAP. You can pay $35 to your bank and stop payment on the check. The Payday company will contact you and attempt to make a payment plan charging even more interest. Although they claim they will take legal action, it is VERY rare that they do because their bank is located in a different state. You CAN get out of this, but I highly suggest to stay away from these types of companies. They are simply legal loan sharks that wont break your legs if your dont pay.

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