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Mr. Dan,
I am trying to consolidate a couple thousand bucks worth of payday loans in to one loan. The company I am working with id requesting that I close my checking account entirely to continue with them. Is this typical in this situation.?




Did they instruct you to close your checking accounts or credit card accounts?

Sub: #1 posted on Mon, 02/12/2018 - 11:38

SC SC
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I think they told you to close your credit card accounts.

Sub: #2 posted on Wed, 02/14/2018 - 14:06

sanderspatricia29 sanderspatricia29

(Posts: 639 | Credits: 67.1)

Usually they won't tell you to close your checking accounts. Please ask if there's any specific reason.

Sub: #3 posted on Thu, 02/15/2018 - 19:00

Good Nelly Good Nelly
Industry Expert
(Posts: 2663 | Credits: 532.65)

They can ask to close your credit card accounts but not checking accounts.

Sub: #4 posted on Fri, 02/23/2018 - 18:30

Mabelle Page Mabelle Page

(Posts: 154 | Credits: 15.2)

if they are working with a pdl negotiator/settlement place they will ask you to close your checking account.that is what we advise.now the three posters above assumed this was a different kind of settlement.however the op is stating that they are taking a loan to repay these.i strongly advise against that.just use the info on this forum it has the tools you need to get out of the pdl trap.

Sub: #5 posted on Sat, 03/03/2018 - 23:10

paulmergel paulmergel
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(Posts: 15511 | Credits: 1357.03)

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