Payday loan help
Date: Thu, 04/29/2010 - 13:30
I have 4 online payday loans. I am in Arizona and want to know if it is a criminal offense to close my bank account. I was told that I can not close my account knowing that I have debits that will come through. Its has something to do with the bad check law, I believe. I would like to make arrangements with them though.
My loans are with:
Ameriloan
Oneclick cash
Lakota Cash
VIP Cash loan
The loan with VIP is a new loan and i haven't even paid on it yet.
My loans are with:
Ameriloan
Oneclick cash
Lakota Cash
VIP Cash loan
The loan with VIP is a new loan and i haven't even paid on it yet.
Bad checks are when you give you a check knowing there isn't any
Bad checks are when you give you a check knowing there isn't any money in the account to pay it, it's also known as a form of check fraud.
It is not a criminal offense to close your bank account in order to avoid paying your debts, but it is a civil offense called breach of contract. You won't face jail time, but if your creditors find out (and they can use discovery to bring your financial records into evidence) you will have to pay creditor's court costs and attorney fees in addition to the money you owe.
