The only thing that will happen is "harassment" i had a 1500.00 payday loan and could not pay it back; so i didn't was told by a lender who is a friend of mine that they don't take small loan borrowers to court because the court cost and filing of paperwork cost to much. Besides, every dollar they lend is insured. The only thing i got were harassing phone calls at home and work. No creditor nor collection agency has the right to harass you at home or work. Simply let them know not to call you at work and request that the number be removed. If that doesn't work let them know that you will in turn file harassment on the company.
If you don't pay a payday loan, you can have a judgment brought against you. They can also fine you a pre determined amount.
If the check you wrote to the payday company is returned by your bank for insufficient funds, etc. it is considered to be a "bad check" and the payday loan company can obtain a civil judgment against you. Most of them simply put it on your credit report but some companies do proceed with civil action. To determine what legal consequences of a bad check is in your state check out this website: www.ckfraud.org/penalties.HTML
This is a good question. You could do either one if you're looking for some extra cash. A bank will typically offer you a better interest rate than most companies offering a payday cash loan.
The bank will keep charging you until your account balance is out of the negatives. I suggest you pay it back NOW for it will SKYROCKET meaning it will go up so high and itll be a lost of money! It happend to me.
you dont make a profit
that's why they get the check, the papers you sign say they will take it if you don't pay it back, or make extension arrangments
If you don't pay a payday loan, you can have a judgment brought against you. They can also fine you a pre determined amount.
what action cn be taken against you if you dont repay a payday loan
The lender could foreclose on your house.
Answer Unfortunately this happens sometimes. You have to move on. There is someone else out there for you who will love you back.
S h i t i dont even know
What happens if you don't pay back LTD when awarded SSA disability? I was not aware I had to pay theme pack and the money is spent.
dont play it or sneek behind your parents back
that happens sometimes. dont worry...it should fill back in as it heals.
dont konw you have to eatr tge pinus
No. They are breaking the law if they're telling you they can. A judge issues warrants, not a payday lender. Payday loans are civil matters, not criminal. At most, they could sue you in court civilly for defaulting on a loan. Some states have made payday lending illegal. Check with your attorney generals office or financial regulator for more state specific info. Payday lenders love trying to scare the unknowing into paying them. The Fair Debt Collection Practices Act (FDCPA) is a federal law that governs collections. You can find it online.
You will be called back to court and punished.