How to beat paying a payday loan legally.

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.

Money for son's medication = theft????

Don't steal or make a deal with the devil...man up and earn it...

tell that to the fed, banksters and wall st :)

It's theft the crazy percentage rates they charge on that "LOAN". legalized loan sharking...

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.

Sorry, but if its legal, I'll fuck a bank or any other financial institution every chance I get and still never pay them back for all the times they've fucked me legally.

Just sayin.

For those who are citing future Karma...it's real! don't believe it?...just ask a co-worker of mine...seems he thought he would get over on the state taxes he owed, and he did...for a while....

his current landlord is raising his rent to far more than he can afford, so he decides to buy a house....BAM!!! he has a $25,000 lien on his credit that will have to be paid before *anyone will even consider him for a home loan...when he told me, I said "Karma's a BITCH ain't it"


*this is what the loan officer told him.

This country used to forgive debt in bad circumstances, now we want to nail everyone to the wall and it's wrong.

Do you honestly think not paying taxes will garner universal Karma?

What are you, the Government?

OP - Is this a relative of yours? Your offspring perhaps?

[link to www.dailymail.co.uk]

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.

You know "Flo" I could spend time typing out a long reply but, life's too short for that Sooooo JUST FUCK OFF!

it's still theft

Turnabout is fair play. Kudos to the OP.

Stealing from someone else is fair play?

Translation:

I have fucked over my family and friends so many times by never repaying them for money I have borrowed that the only money I can get is to go to a high risk lender (i.e. someone who still will offer you a loan despite the fact that you are a known dead beat at a rate worth the risk of yet another default on your part so you can buy some kind of ADHD mind altering drug for your bastard child to zombify him/her/it so you can watch dancing with the stars/bang a loser/snort meth, so fuck them for being stupid enough to bail my loser ass out yet again, I ain't paying.

Does that about sum it up?

You make the choice to accept those terms when you get the loan. Nobody forced you to go there. Nobody made those bad choices for you, you did it to yourself.

I got caught up so badly with those payday loans I had to file bankruptcy. Also, the bank closed my account for me once the overdraft fees from the repeatedly returned payday checks got too high. So don't count on those accounts staying open, either.

Anyone who does not pay money back they borrowed is a thief. Pure and simple. Thievery gets you the worst karma, too.

"yeah it is still theft"

Come on, your average CITY-LEVEL politician is stealing TENS OF THOUSANDS OF DOLLARS, even in small towns! These pay day advance places are known fronts for criminal organizations or at least very shady and unscrupulous characters

"yeah it is still theft"

Come on, your average CITY-LEVEL politician is stealing TENS OF THOUSANDS OF DOLLARS, even in small towns! These pay day advance places are known fronts for criminal organizations or at least very shady and unscrupulous characters

I'm a nihilist.

One of the faggy europeans from Big Lebowski?