can u be arrested for not paying back a payday loa

can u be arrested for not paying back a payday loan. i received several internet loans and closed my account due to not being able to pay them back. im being harrassed by collection callers daily. what should i do. r these loans illegal in new york? some of the companies are cash king,galaxy loan,multi loan source,payday accelerated and plain green. please respond asap. thank you.

5 Answers

I live in Indiana can i be arrested if i don't pay


They should all eat shit


You can't be sued or arrested. Thats it! Do what the other posters have suggested. If you need more info regarding how to deal with the illegal pdl lenders, then have a look at this page:

http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html


Illegal lenders can't sue you and no lender can take you to jail for non-repayment of the loans. You just have to mak sure that you repay the entire principal balance. If it's too high, you can go for payday loan settlement.


All payday loans are illegal in NY state.  You cannot go to jail...debts are civil, not criminal.  You owe principal only....no fees or interest.

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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