Can you go to jail for not paying back a cash advanced payday loan?

Answer 1

the failure to pay back an advance is not a criminal offense so you cannot go to jail. it is, however, pretty unethical.

and no, it is not theft. an advance is something that an employer was WILLING to give you. maybe there were special conditions, but an advance is not stealing. they gave it to you for christ sake.

it may be considered fraud if you had the intention of fraud. if you took advantage of your employer and never had the intention of paying them back, then the state would have to prove that in order for you to go to jail.

Answer 2

Visit this site so you can find the best rates: WWW.LOANHUNTER.NET

RE:Can you go to jail for not paying back a cash advanced payday loan?

Answer 3

For Finance and credit solutions I visit this site where you can find all the solutions. http://finance-solution.us/index.html?src=gfyumXO28

RE :Can you go to jail for not paying back a cash advanced payday loan?
Follow 26 answers

Answer 4

Well... see when you did this & gave them your checking account number, then it is similar to writing a bad check because you secured the loan with your checking account. A verbal contract is still a contract. If you accepted it, then it was up to you to read the terms & conditions BEFORE YOU ACCEPTED THE FUNDS. By accepting the funds, you effectively agreed with the terms & conditions (that includes the amount of the fee for the service they provided). REGARDLESS of wether or not you now feel like it was a rip-off. Depends on the laws in the state you live for worthless checks & contractual agreements. Why, because you agreed to the contract in the state you are living or at least in the state where your bank account is considered to be located. What to do??? Well, forget the fact that you are having difficulty getting them on the phone... contact them the same way you contacted them to get the funds... not being able to call them on the phone is a lame excuse when you were able to get them when you wanted something from them. Next ask the bank about closing your account.... it may be that there is a waiting time to allow for outstanding processing or that the account is automatically re-opened if something is presented against it. If that is the case then you are out of luck on that tactic. However, even if you close the account, then you STILL ARE RESPONSIBLE FOR THE CHOICE YOU MADE.... Why act like a 3 year old about finances.... What I would do & what I would tell my own child is accept these actions/decions, chalk them up to a learning lesson. After the repayment is processed then do something, anything to close/restrict/change your bank account number in the event that the company fraudulently attempts to assess more funds than you agreed to pay. I work for a Credit Card Company... you are just asking for Identity Theft when you are DUMB ENOUGH to provide things like your bank account number over the phone or on the internet for anything -- always use a Credit Card number - at least that can secured with a simple Lost/Stolen report & minimize any potential damage with ZERO RESPONSIBILITY FOR ACTUAL FRAUD (at least with VISA or MASTERCARD)

Answer 5

They can't send you to jail. They can sue, but not threaten having you arrested. If they do threaten this, be sure to document when and who says this and you may be able to sue them for larger damages than you owe. There is a federal act against this type of behavior, but many credit companies still try threatening tactics to scare you into payment. Consult a lawyer if it continues - or just pay up, at least make a payment arrangement.

Answer 6

If they can prove you got the loan with no intention of paying it back, you could be jailed for fraud.
But in most cases, they will take you to court, get a judgement and take anything they can find to get the money.
Once they get a judgement, they can take bank accounts, vehicles, wages/salary, almost anything you own or earn.

Answer 7

It depends on the contract you signed. But if they prove fraud, or worse, that you stole the money, then you can go to jail. Why would you not pay it back? Are you really clever enough to avoid the consequences of your action? Or, are you moving to another country, because if the answers are 'no' then you can expect a lot of trouble.

Answer 8

These places have a black list reporting system and they keep track of those who do not pay up. You should try to negotiate an extension for payment if they do not already have a system in place for extension of late payments. Otherwise, if you gave them collateral, i.e. car title, checking account, employer information, etc., they will keep the car, garnish your bank account or your earnings/wages from your employer until they are paid back.

Answer 9

As someone who has over 4 outstanding payday loans, I can tell you "No", but they will eventually send it to collections and harrass you on the phone. Best to pay them off as soon as possible.

Answer 10

You can not be put in jail for owing money. You can be for commiting fraud. For example you borrow money and give a counterfeit check or you go from one place to another borrowing money that you know there is no way to pay back.