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What happens when you get a cash advance?

April 13th, 2009
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ROCKING MOMMA asked:

What happens when you have a cash advance and it gets deposited and then returned due to insufficient funds in your bank acct.
Can they turn the check over to the county atty? or do they let you make payments to them on the balance?
The check advance plus fees are 470.00 I am in the state of Kentucky

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JessR Loan , ,

  1. Merlin Y
    April 18th, 2009 at 20:28 | #1
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    ROCKING MOMMA, Be careful if you decide to apply for an online payday loan. Each state has different regulations, and I’m not sure about rules and regulations. Try contacting a local payday loan office so you can get advice before taking out the loan.

  2. rockermom
    April 18th, 2009 at 00:21 | #2
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    Well, you didn’t say where you live it depends on the business and on the laws of that county and state.

    Some companies will set you up on a payment plan to clear your balance, however if you default on the payment plan most companies can take you to Small Claims Court or send it to their Attorney for collection, most likely it will end up reported on your credit report and if you are sued to collect the balance your paycheck can be garnished to get the money back.

    I recommend you call the manager of the cash advance company, and see what they can do for you. So many people get afraid of the place they bounced their check, but business is business and the company really wants the money they advanced you back, so to avoid any legal complications give them a call, most will be glad to help you.

    Good Luck!!
    Just remember don’t default on the payment plan, stick to your word and pay them off.

  3. stan c
    April 16th, 2009 at 10:07 | #3
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    If you knew the funds would not be available, why did you deposit it into your account? Depending what state you live in and the amount of the check, they can come after you. Just call and set up a payment arrangement to pay it back.

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