2006-08-15 03:02:12 · 26 answers · asked by Anonymous in Politics & Government ➔ Law Enforcement & Police
No its a civil matter. It will affect your credit and credit is very important. They might take you to civil court to garnish your wages or put a lien on any property you have, but it is not a criminal offense.
2006-08-15 03:07:25 · answer #1 · answered by bsure32 4 · 1⤊ 0⤋
It is not a criminal offence.. it is a civil matter, as by not paying your loan back, you are breaking a contract and the company can take you to the civil courts to get the money back.
2006-08-15 15:45:48 · answer #2 · answered by PEP 3 · 0⤊ 0⤋
The correct answer, mentioned above, is that predominantly it comes under civil law and the loan company has to take you to court themselves if you do not, or cannt pay them back. However, if you took out the loan with the intention of taking the money and not paying the loan company back, then it comes under criminal law (i.e. The Theft Act).
2006-08-15 10:49:50 · answer #3 · answered by ragill_s1849 3 · 0⤊ 0⤋
No, actually, failing to pay a loan is a civil offense. A loan is a contract between you and the lender, and if you don't pay the lender can take you to court and have a judgment issued against you, but you can't go to jail for not paying a loan -- they'll just garnish your wages or put liens against your property or take it out of your Federal/state tax returns. Failure to pay a traffic citation, however, IS a criminal offense. You can go to jail for not paying a traffic ticket.
2006-08-15 10:09:44 · answer #4 · answered by sarge927 7 · 0⤊ 0⤋
It is a civil matter. When you take on a loan you agree to pay the amount back over a set period of time at a set amount. If you do not do this then they can black list you. Be very careful. If you are experiencing difficulties then speak to them, they may be able to help you by re-calculating the payment plan to make the payments more affordable for you to pay back.
Good luck.
2006-08-15 10:15:41 · answer #5 · answered by Anonymous · 0⤊ 0⤋
No it's a civil offence. You can still be taken to court for it and made to pay alot more than you actually borrowed or the Bailiffs will turn up. But you can't be put in prison for it.
2006-08-15 10:13:05 · answer #6 · answered by ? 3 · 1⤊ 0⤋
No, it's a civil offence.
However if the person you owe money to takes you to court and gets a court order forcing you to repay the debt, you are then commiting a criminal offence if you don't.
I think.
2006-08-15 10:08:16 · answer #7 · answered by ftmshk 4 · 1⤊ 0⤋
You borrowed the money, you agreed to pay. Don't be a deadbeat and pay it back.
COULD be criminal if they determine that at the time you took the loan, your intention was to never pay it back. Then it becomes a fraud.
2006-08-15 10:12:33 · answer #8 · answered by Jim D 3 · 0⤊ 0⤋
I know that if you went to school and got a license (Nurse, etc..) they'll take it away, they can also garnish your wages and bring you to court.
I would contact them if your having a hard time paying them back and see if they'll work out a deal with you. If your just planning to stiff them, I would just pay them back instead of paying court fees on top of your tuition and having a felony on your record.
Once you signed the deal and take their money there's no going back.
Sorry.
2006-08-15 10:13:19 · answer #9 · answered by Carey 3 · 0⤊ 0⤋
No , with capital N .
Not paying your loan, is only not abiding by the terms of the contract, and is not a crime.
BUT..
If you are taken to court and the court orders you to pay, and you don't, then it becomes punishable by law .
2006-08-15 10:11:55 · answer #10 · answered by Morbeous 3 · 0⤊ 0⤋