What Exactly Happens when Payday Loans are not Repaid?

January 30th, 2010 by admin

If you have ever obtained a Payday Loan and then had problems getting the loan paid off, you no doubt have wondered what if any options are available to you.  Listening to the rumors, you are probably quite frightened that you will be hauled off to jail like a common thief, which can be quite scary.  The good news is that this is not something that can happen if you do not repay the loan.  However the lender is permitted to file a lawsuit to recover the money, plus they are permitted to report the bad debt to the credit bureaus which can damage your credit.

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

Posted in Business | | Comments Off

Comments are closed.

Sorry, the comment form is closed at this time.