If you have activity in your bank account, it could be a mess if you close it. Like other debits, checks, etc. You should only close your account if all checks and transactions are cleared. Anything that comes back (like a check or electronic check) on a closed account that you authorized is considered a BAD CHECK and it's a 1st degree misdemeanor (a crime)! You would have to make sure you checks are cleared and notify them not to debit your account (that you'll pay it a different way). If you dont pay, than they can take you to court, ruin your credit, garnish your wages, or put leins on property (current or future you might have). They can also collect legal fees and interest added on to the whole amount. Your better off getting a loan somewhere and paying them ALL off!
Was once in the cash advance wheel for 2 years and had to borrow $2000 to get out of the mess!
· 1 decade ago