What is the punishment for getting an on-line payday loan then closing the bank account?

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What is the punishment for getting an on-line payday loan then closing the bank account?

Asked on February 23, 2011 under Bankruptcy Law, Florida

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

First of all, was it your intent to receive this money and then close your bank account? If so you committed fraud.  And yes, you can face criminal charges.  However, if you closed this account down accidentally or for some other legitimate reason, then while you still owe this money, you have not committed a crime.  Since you gave no details of your situation, its hard to advise further.  As for any punishment, assuming that a fraud has been committed, it will depend on the amount in question and other facts.  At this point, you should consult directly with a crtiminal law attorney and give them all of the details of your case.


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