They double charge you then eventually screw up your credit, and other payday loan offices will find out, and you'll never be able to get a loan from them again. PAY BACK the loan, they helped you in good faith, now you do the right thing and pay them back, otherwise youre nothing but a bank robber.
2006-11-06 02:00:37
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answer #1
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answered by xenypoo 4
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For Credit and finance solutions I recommend this website where you can find all the solutions. http://INSURANCEANDFINANCETIPS.INFO/index.html?src= ypnavNS07
RE :What happens if you dont pay back a payday loan?
Follow 7 answers
2016-10-16 12:48:12
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answer #2
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answered by Buffy 6
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Well, they can take whatever you have put up for collateral, they can harass you to pay the loan, they can hire other people to harass you to pay off the loan, they can report your non-payment to the credit reporting services, making it more difficult for you to get loans in the future, and finally, if they end up writing off the loan, you will end up having to pay taxes on the amount they wrote off (as ordinary income). By the way, the harassment can last for well over 5 years, and the smudge on your credit report will last 5 years.
2006-11-06 02:04:16
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answer #3
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answered by Jeffrey S 6
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If it's from some guy named Guido, you get your kneecaps modified.
2006-11-06 12:41:09
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answer #4
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answered by Nomadd 7
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Read your contract. Probably a huge penalty.
2006-11-06 01:57:21
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answer #5
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answered by revengeismineforever 2
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They take your check.
2006-11-08 11:33:56
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answer #6
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answered by George K 6
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At SMARTFINANCESOLUTIONS.NET you can find the best rates for you
2014-05-07 05:45:23
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answer #7
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answered by Anonymous
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