I made a payday loan and...?

First off, I made the loan for 200 dollars. The pay off amount was 260 dollars. This was back in August. I am a single mother and live paycheck to paycheck. It's really hard for me to pay off the entire loan at one time because the amount of bills I have each month, so they've been taking out 60 dollars from my checking account like every other week. Okay, fine. But recently they've been doing it more often. I just checked my account and they took out last week, and also on December 24. Not only that, but for the past 2 months they've been taking out money that wasn't even in my checking account, causing overdrafts in my account that has costed me well over 400 dollars. Is there anything I can do? Either to get my money back (Have them pay for the overdrafts they've caused) or have my bank credit me the overdrafts because they authorized the payments when there was no money in my account? I know, it was stupid but I really needed the money at the time...I'm trying to get out of debt

I made a payday loan and...?

Go to the bank and tell the manager your situation, in that you have an automatica payment set up for this account and it is causing you lots of problems. Ask the bank to not allow the company to withdraw from your account so that you can pay back this loan yourself instead of using automatic payments since they are causing many overdraft charges. If the bank agrees to do this for you, then as the manager if there is any way you can get some of the money back from your overdraft charges since you did not know that this company would be taking money out so frequently. You should be able to get some compensation. I had a similar situation with an automatic payment set up with a company, and it cost me $300 in overdraft charges because the account I had the automatic payments set up for had a low balance that I was unaware of at the time. I did what I told you above, and I got some compensation.

If the bank says there is nothing they can do about it, then close your account with them. You don't want to have an account open with people who won't work with you. Open a new account at a different bank entirely. This will solve the problem of the automatic payments since the company will not have your new bank account. The only thing is you may have to pay the overdraft charges. Finally, if you do close your account and go to a new bank, the loan company will have to contact you for payment, in which you can opt to not set up automatic payments, and instead pay it off yourself as you are billed.

I hope this helps!

I made a payday loan and...?

Rather than leaving messages, why dont you go there in person?

I made a payday loan and...?

Unfortunately with Payday loans they will continue to deduct the money until the loan is satisfied. You enter into a contract with the company and they should be deducting the money on certain days of the week. I would call and find out how much is remaining on the loan. If the pay off amount was $260 in August then the loan should be paid in full already if you are having $60/week deducted. The only way you will be able to get your money back is if they are deducting money for a loan that is already paid in full. Contact them again to find out what the balance is and when the last payment is scheduled for.

I wish I had better things to tell you but this is how they get their money.

I made a payday loan and...?

The only thing that you can do is suck it up pay it off and stay away from those places, as they will bleed you dry. Do not repeat do not close your account because that will leave you open to fraud charges, and you will still be liable for those charges, and when you are in Chexsystems your new bank will discover this and demand you fix it or they will close your account.After the refusal of payment the payday loan place will go after you through the court system, bad check and then you will have a misdemeanor on your record plus the additional cost of lawyers, court fees etc making the bill even higher. As stated pay the darn thing off (it is costing you more money that any late fees somewhere else) and stay away from those businesses

I made a payday loan and...?

There's no easy solution for you. The payday loan you took out charges you $30 in fees per $100 borrowed and you owe those fees every 14 days.

Because you've never paid more than $60 every two weeks, you keep owing the original $200 plus the $60 in renewal fees.

Your bank didn't authorize the payments, you did. If you don't have enough money in your account, you get overdraft fees. You're drowning in fees right now.

The first thing you need to do is to start paying more attention to your bank account statements. Then you need a plan on how you're going to repay the bank fees and that payday loan that's bleeding you dry.

You HAVE to pay more than the $60 every 2 weeks in order to reduce the amount of money you owe. If you can scrape together, beg, borrow from friends, sell stuff - whatever you can do to get that $200 + fees paid off, do it. And vow you'll never do it again.

I made a payday loan and...?

cal the local %26quot;LEGAL-AIDE%26quot; in your area!!!!!!!!!!!!!!