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Subject How to beat paying a payday loan legally.

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Original Message Check your local laws. But this is how it works in Texas and South Carolina.

I got a payday loan to help pay for medication for my son. I kept paying the maintenance fee weekly until I could pay it. When I moved back to Texas I pulled my money out if the checking account. I kept the account open so I could eventually pay off the loan.

Late fees kept piling up but since I had no overdraft protection they couldn't charge it. I was talking to a buddy who had the same issue and as it turns out, a payday loan is not considered a hot check. The law treats this differently than credit cards. It is simply a loan that is defaulted on.

As long as the account tied to your payday loan remains open, even if you have no balance, they cannot claim fraud since you didn't close the account on the loan.

In other words, they can literally not recover the money.

When they threatened to put it on my credit report I told them I would tell everyone I know who has payday loans with them how to get out of paying it. That was a year ago and it's still not on my credit reports.

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