Questions about online payday loans?

Mar 8th, 2010
by admin.

I have an online payday loan that is due soon, but I am not going to have enough money in the account to pay it back. It comes out as an ach debit. Once they put it through, can they keep putting it through until they get their money, or can they only put it through on that day and then get ahold of me to get their money?

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2 Comments

  1. Ask M says:
    March 8, 2010 at 10:14 am

    the bank will bounce it once, then probably try to put it
    through again and bounce it, then notify the person
    who is trying to put it thru. I had one that tried to
    keep putting in thru 5 times even after I told them
    I would make other arrangements, I ended up suing
    them back for more than what I owed them.

    So I advise you close your account because they will
    keep trying to put it through and you keep getting
    bounced fees.

  2. Namas B says:
    March 8, 2010 at 11:10 am

    Before you rush to do a search for “payday loan online” there are a few things you should know about how these types of loans work and what alternatives are available. A payday loan is a short term small-balance loan that is intended to tide you over till your next payday arrives. They can be conveniently