crime  debt


Question by  MrSoul (26)

Can I go to jail for payday loan default?


Answer by  EarlOfSandwich (177)

You will not go to jail for defaulting on a loan. The lender's recourse is to sue you in civil court to recover the money.


Answer by  Srfingfreak (697)

No. The days of going to jail for loan default are long in our past. You can, however, have a lien placed on your belongings, or a negative credit report.


Answer by  arrown8606t (24)

A payday loan default would be a civil not a criminal matter. The only way you could go to prison would be if the loan was obtained fraudulently.


Answer by  John (9008)

You cannot go to jail for defaulting on a loan. It is actually a violation of federal law for creditors to even threaten people with imprisonment. Creditors can sue you, seize your property or garnish your wages, but they cannot send you to jail.


Answer by  tamarawilhite (17883)

No, you cannot go to jail for a payday loan default. If they are threatening you with jail for not paying, that is extortion and is illegal. If you do not pay, however, they can sue you for the debt.

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