Can’t pay 2 Payday loans Michigan

Debts are civil, not criminal. If a company is threatening criminal action, report them to your AG's office and the FTC

[COLOR=black]I understand that debt charges are civil and not criminal. [/COLOR]
[COLOR=black] [/COLOR]
[COLOR=black]I also understand that in Michigan, pay day loan checks cannot be prosecuted for bad check laws. [/COLOR]
[COLOR=black] [/COLOR]
[COLOR=black]What I don???t understand is, some states prohibit criminal charges unless you close your bank account prior to date of satisfaction. [/COLOR]
[COLOR=black] [/COLOR]
[COLOR=black]Does anyone have any experience or knowledge for Michigan on this matter? What happens if you close your bank account, knowing that you have outstanding ACH that you have authorized? [/COLOR]

Hi,

Debts are civil and no one can take any criminal action against you! However, as you owe money, the best step that you can take is to repay them to avoid future harassments. If you find it impossible to repay the money now, you can opt for payday loan consolidation. You can bundle the payments and repay then in easy and affordable monthly payments, thereby being debt free. :p

Amy is right. You should check from the Michigan Office of Financial and Insurance Services whether or not pdl companies are licensed in your state. You will be responsible for both the principal and interest, if they are licensed in your state. If they are not licensed, then you will have to pay only the principal amount. If you have paid extra than the borrowed amount to the illegal lenders, then ask them for the refund. If it seems difficult to payback the debts in full, then you may go for payday loan debt settlement. It helps you to repay your debts asap.

The lenders are legal.
It is Check N Go
and
Advance America


Can I close my bank account without commiting bank fraud, knowing that I have outstanding ACH transactions?

Check n go and Advance America are legal lenders. You shouldn't have to close your account.

Did you get these online or at a store?

Advance America was online
Check N Go was store front.

I was going to close the checking account to prevent it from overdrafting when the ACH came through.

Can I close the account and not get in criminal trouble for knowing that there are outstanding ACH transactiosn that I had authorized.

You need to revoke ACH authorization (an email will do, or a signed note in person at the store). This will force your account to collections. Then you can negotiate a payoff with the collections dept. Tell them this is what you're doing.

Check N Go has a written check from me. I dont think they run it as an ACH. Can that be revoked?

Even if I send the ACH revoke to the other lender, I would still like to close my account just in case.

So..... Does anyone know if that would be a criminal matter when closing the checking account in Michigan ?