How to block payday loans from debiting my account

If you are having trouble paying back a payday loan and do not want the lender to debit your account, there are several steps you can take:

  1. Contact the lender: If you have difficulty making your payday loan payments, the first step is to contact the lender and explain your situation. The lender can work with you to come up with a repayment plan that is more manageable for you.
  2. Close your bank account: If you do not want the lender to have access to your bank account, you can close the account and open a new one at a different bank. However, this may not be practical if you rely on the account for other financial transactions.
  3. Stop automatic debits: If the lender is using automatic debits to withdraw loan payments from your bank account, you can stop the debits by revoking the lender’s authorization to access your account. You can do this by contacting your bank and requesting a “stop payment” on the automatic debits.
  4. Seek legal advice: If you cannot stop the lender from debiting your account and are having trouble paying back the loan, you may want to seek legal advice. A legal aid organization or an attorney can help you negotiate a repayment plan or challenge the lender’s actions in court.

It is important to remember that payday loans can be expensive and should only be used as a last resort for short-term financial needs. If you are having trouble paying back a payday loan, it is a good idea to explore other options, such as borrowing from a bank or credit union or seeking assistance from a non-profit organization. Defaulting on a payday loan can have serious financial consequences, including wage garnishment and damage to your credit score.


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