2007-02-18 15:39:53 · 7 answers · asked by sweetiepye1919 2 in Business & Finance ➔ Personal Finance
no. and if a debt collector ever tells u you're going to jail, they're breaking the law--get a lawyer!
2007-02-18 15:57:05 · answer #1 · answered by njyogibear 7 · 0⤊ 0⤋
Are you willing to owe them for that long to find out?
No, if it was a loan or overdraft, you have the option of paying it back. If it isn't paid back in the amount of time given (sometimes the wait will be extended) or in most cases legal matters will be involved.
No jail time unless, the courts has ordered you to pay up and you fail to.
2007-02-18 15:50:56 · answer #2 · answered by Akito_GunPak 1 · 1⤊ 0⤋
If you are talking about a loan that you havent paid, no you can't go to jail. But, it can affect your credit. Now, if you were writing bad checks and the banks covered them and wants you to repay, and you haven't, then you could be charged with check fraud. In both cases, PAY THE MONEY!
2007-02-18 15:48:01 · answer #3 · answered by TwinkaTee 6 · 1⤊ 0⤋
no, that does not exist anymore because no one would ever get their money if they put everyone who owes them in jail. I think they may be able to garnish your wages, at the very most.
2007-02-18 15:48:44 · answer #4 · answered by snowangel_az 4 · 0⤊ 0⤋
Of course not. Haven't you heard?
Banks are very forgiving. They do that all the time.
Take their money, enjoy it and forget it.
They wont bother you after you used their money. People do that all the time.
(I hope you heard the sarcasm).
2007-02-18 15:50:58 · answer #5 · answered by XperTeez 2 · 1⤊ 0⤋
It is a debt and will go on your credit report. But I do not think they can arrest you. Unless you stoled the money.
2007-02-18 15:48:12 · answer #6 · answered by Ryan C 2 · 0⤊ 0⤋
No. Debtor's prisons were done away with long ago, unless fraud was somehow involved.
2007-02-18 16:08:53 · answer #7 · answered by Uncle Pennybags 7 · 0⤊ 0⤋