Like for instance could there be court case, warrant, things like that?
2006-12-09 08:30:18 · 6 answers · asked by fluketry 1 in Business & Finance ➔ Personal Finance
If the loans are secured by collateral, there will be a lien placed against it, or it will be repossesed or foreclosed. If you owe for a personal or business unsecured loan or line of credit, you will be taken to court. Your credit score will suffer indefinitely while there are accounts in collections and even if these are eventually paid off, they will remain on the credit report for years at least and lenders will not risk lending to you which these are still showing. There is no law that will force jail time or anything, but if you are taken to court and you don't show up, then you'll get a warrant for failure to appear and you can get taken to jail. But that is all down the line from not paying. Usually if someone is having a hard time paying, the bank will be willing to refinance the loan into smaller more manageable payments so that it can still collect on the loan instead of making you default. Most people don't know this and they just let it go, causing themselves lots of hardship and unwanted stress.
2006-12-09 09:38:45 · answer #1 · answered by candy 2 · 0⤊ 0⤋
i've got have been given no components you need to bypass to, yet my daughter has lived in a rented residing house in Fayetteville, NC for the previous 3 years. maintenance are in no way made and indoors the previous 365 days her residing house has been broken into 2 circumstances the placement they took 1000's of dollars right well worth of stuff. She did no longer adventure safeguard there anymore by employing reality she is on my very own with 2 toddlers. they had no longer enable her out of the lease and something she recognized at she found out that they might carry her to the lease. Her lease is up on April 1st and he or she is shifting. that's my guess that they are going to save element of her deposit for the door that replaced into broken whilst they broke in replaced into in no way repaired. I stay and private a condominium in PA. The lease my tenants sign say they're able to break the lease with the help of employing paying certainly 2 months lease and forfeit the deposit, although severe priced, yet surprisingly time-commemorated for PA. analyze your lease and word what it says approximately leaving early. stable success.
2016-10-14 08:43:03 · answer #2 · answered by olis 4 · 0⤊ 0⤋
See a lawyer.
If fraud, end up in jail.
Or file a simple bankrupcy. Start over.
2006-12-09 08:36:42 · answer #3 · answered by minootoo 7 · 1⤊ 0⤋
Nope you are ordered to show to court and thats it.
2006-12-09 08:32:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
they will take posession of your belongings
2006-12-09 08:32:45 · answer #5 · answered by silverearth1 7 · 0⤊ 0⤋
hoiuhjhby
2006-12-09 08:46:42 · answer #6 · answered by manisha p 1 · 0⤊ 0⤋