Payday loan trick - maintain a negative balance in your bank so they can't withdraw a loan payment

here is a trick i did in this situation years ago, idk how much time has passed but your bank might still let u withdraw cash at an atm 🤫

i was using a WF acct and the max they would let it go negative for was i think like $250 in a day. so in this situation, if its the same day ur acct has gone negative, try to go to the atm and try to take out $100-120. worse that happens, it declines it; maybe u have different bank, maybe this hack doesnt work anymore, idk. but best case scenario, u have an extra $100 in cash to use. u r alr negative and yes u will have to pay the deficit still, but what is there to lose?

i stopped doing payday loans for this exact reason! they took it out of my acct automatically even tho in my case i specifically called multiple to tell them i would drop off the cash in person. i saw ur comment and im glad u will stop the cycle. frick payday loans

this is such an r-slurred way to view your fianances, its honestly kinda sad

I started getting my paychecks deposited elsewhere so I could at least pay for my essentials, then next time I got paid and had excess, I settled with the payday lender. Then I used my next paycheck to get my first account back in the positive.

I came here to say this. Years ago I got wrapped up in this and unfortunately the only way out was to open a new checking account with one of those online bankers and get my direct deposit in there. I eventually paid my old checking negative balance and closed it immediately. Just settled with the loan companies later. Credit took a big hit for a few years, but it beat the alternative of being homeless and hungry. Didn't see anyway out other than that option.

That's actually really smart!

If you just keep using your last hundred to get yourself back to a zero balance, then throughout the week you'll overdraft yourself back down, and then you're caught in the debt cycle again but with less to show for it. Let the account overdraft for a bit, pay it off AFTER funding your essentials.

Another person talking about overdrafting on purpose??? Most banks charge crazy overdraft fees