Q&A: Can a payday loan company use my credit card info from a one-time online payment?
Question by indi.babi07: Can a payday loan company use my credit card info from a one-time online payment?
I have a payday loan past due. However, the bank account the payments withdraw from, I no longer use and is therefore empty (and negative from nsf payments due to the loan) If I make a partial payment online, can they use they info to deduct the rest whenever they want? I don’t want them to do that.
Best answer:
Answer by clara
They can but they won’t. If they have you credit card information they can charge you when they want to. However if you call your credit card company they will reverse the payment for you (if you didn’t authorize the payment).
And the credit card won’t be so stupid to let the payday loan to do it. It is like transferring the loan from your payday loan to your credit card. If you are not paying your payday loan, you are not likely to pay for your credit card. so they won’t let the payday loan company to do it
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Make some arrangements or not only will your credit be ruined and they sue you but if you leave that account in the negative they will close your account, turn you in to chexsystems and you will not get a bank account elsewhere.
Yes they can use your info,. you owe them money and provide a financial institution. Legal? Read their fine print regarding the issue because I am sure they have people do this to them all the time to get out of paying their debts.