What happens if I dont pay my personal bank loan?

What happens if I dont pay my personal bank loan?

3 Answers

If you don't pay your personal bank loan, you can face various consequences! If it's a secured loan, the collateral thatyou've used will be subject to a foreclosure or a repossession. If it's an unsecured loan, you may be sued or be subject to wage garnishement. Give us more information about the type of loan that you owe to the bank.


There can be various consequences depending on the type of the loan - secured and unsecured. As SOAPLADY has asked, you really need to provide more information so that we can offer you the required help. Other than this, if you really owe the debt, it is your duty to pay the money back. But, if you are having any monetary problems, in that case you will have to talk to your lender or the bank.


Was this secured?  Unsecured?  With or without a cosingor?  We really need more informatgion.

You signed a prom note agreeing to the terms.  More than likely the bank will sue you for the proceeds if unsecured.  You could end up being garnished or having your bank accoiunt levied.

 

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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