Can A person go to jail for not paying a payday lo
Can A person go to jail for not paying a payday loan
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I got a pay day loan for $1500 but definitely I can't pay them back. Can I go to jail?
anonymous
Can I go to jail for not payin a loan
anonymous
It is a civil offense and hence you can't be put to jail. These days you have a lot of PDLs operating illegally over the internet. If they aren't legal in your state, then you may simply repay the principal loan amount. In the case, you don't need to pay for the interest or late fees at all.
anonymous
Non-payment of payday loan is not a criminal offense. Therefore, a person can’t go to jail for failing to pay his payday loan. If a person fails to repay his payday loan, then the lender can file a lawsuit against him. So, it is better to contact with the lender and negotiate with them for a suitable repayment plan. Check if the lender is licensed in his state. If the lender is licensed, then he can take any legal action against the borrower. So the borrower has to be aware of all these.
anonymous
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