Alabama PDL

I have 3 pdls out currently, all are internet based. I have not made a payment on any of them as of yet. I do not have the money to repay them at this time. I stopped my direct deposit to my checking account and opened a new account at a different bank. Can I close the original account without any criminal charges being filed in Alabama? Thanks.

Payday lending is legal in the State of Alabama. You may contact the Alabama Banking Department in order to find out whether or not they are legal in your state. If not, then they cannot take legal actions against you and you can close down your account. If you want to get rid of these illegal payday lenders, then you should pay off only the principal balance.

If your pdl loan lenders are legal in your state, then I think you should pay off the debts. You are morally and legally obligated to pay off the debts. Can't you arrange an alternative repayment plan with your lenders instead of closing the account? If you don't repay the loans, then the lenders can sue you.

Hi,

Since payday loan lending is legal in your state, you must try your best to repay the debts in full. Try managing your personal finances and speak to your lenders about your financial hardship. Pull out all your finances so that you can get hold of a lump sum amount in order to repay your debts. If you can't manage still, you can go in for payday loan settlement.

I agree with what the previous posters have said. If you are in a financial crisis and can’t repay your debt in full, then you can negotiate with your lenders. You may try to consolidate the debts on your own. If it seems difficult to negotiate yourself, then you may enroll in a payday loan consolidation program.