according to my lawyer, there is only a slight chance they take anyone to court for non-payment at a payday loan store b/c of how much it will cost them to file and so forth before they finally can get the money from you whether in payments from court order or court ordered to deduct out of your paycheck from your employer, and laws have limited this as well to only take a certain % of your pay which i believe in WI is or around 10% or less.
But 90% of the time, they will just bug the heck out of you until you give in to make some payment and of course report it to the credit bureaus, possibly ALL 3
Some even will SELL YOUR INFO to a collection agency and let them deal with the problem and just write it off as a bad debt if they do not get anything and so forth, sometimes you can be passed to several collection agency until its finally written off which could take several years.
By law, a collection agency can only hold your info for up to 3 months.
it is a possibillity but...No but they can cash the start up check.
No at least I don.t think they can
Yes. A payday loan company may sue a borrower in Texas in order to get their money back.
Yes. And depending upon the circumstances the "bad check" issue might be a criminal one.
I guess it all depends, I might say. the amount of money you owe may play a significant part of the equation. For every company that "threatens" to put you in jail or have you pay civil damages, there are those that so not follow this norm.
no payday loans are illegal in arizona
Yes. If you owe them they can go to court to get the money.
An online payday company cannot file criminal charges in Texas. It is an unsecured loan with little recourse but a judgment in a court of law.
No. Payday lending is illegal in the State of Maryland. You should contact the Maryland Commissioner of Financial Regulation to file a complaint. Payday lenders will notoriously threaten to sue, arrest, garnish, suspend your drivers license, etc. They can do none of those things in Maryland. The idea behind payday loan collections is to scare and intimidate you into paying, since there is no other alternative available to them. I recommend ignoring threatening calls, as most often they are illegal scams. Should you wish to answer, feel free to let them know you will see them in court. They know it won't happen, so it really irritates them when you call their bluff!
Payday loans are considered illegal in the state of Georgia. However, if you default on a payday loan, the company can sue you in court. The judge will decide how a judgment will be carried out if the loan was given in Georgia illegally.
If you don't pay your credit card bill, the company may put the nonpayment on your credit report. Also, the credit company may sue you in court.
No, payday loans are illegal in Maryland. Any lender or collector giving loans or collecting on loans in Maryland has to be licensed in the State of Maryland. Payday lenders/collectors are notorious for making illegal threats of arrest, summons, drivers license suspension, etc. All things designed to scare you into paying them. It is never illegal to default on ANY loan. That is a civil matter, not a criminal one. It is illegal for them to tell you that they are prosecuting or pursuing you for a crime. Report them to the Maryland Commissioner of Financial Regulation and the FTC.