Can you be arrested for not paying a payday loan-E-Answer.Net

The police won't be at your door.
If you don't pay a payday loan, the worst kind of loan,you will soon find yourself owing many times the amount of the loan and the company will have collectors on to you. There will be huge default fees, interest is in the hundreds of percent a year, not 20 or 30%. You could soon find yourself owing thousands over a small payday loan gone bad. Find some way to pay it.

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4 Comments



Lesh Votes: +0	No, we do not have debters prisons today. It will go on your credit report. Depending on how your credit was before this incedent will play into your being able to get more credit in the future. More than likely you will pay a higher interest for a few years but not many. report abuse vote down vote up


edphilli... Votes: +0	I hope not.....I had one that went to collections. I paid it because it only became a bigger debt. report abuse vote down vote up


Missin' my honey... Votes: +0	I do not think so but it will go on your credit. report abuse vote down vote up


piglet61... Votes: +0	I dont think so. report abuse vote down vote up

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Can you be arrested for not paying a payday loan

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