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Can a warrant be sent out for your arrest for not paying a payday loan?
Wiki User
∙ 14y ago
No, you can not be arrested for failing to pay your loan. The most they can do is file a small claim suit against you for the amount owed including the contract interest rate. You will be served court papers and can appear in court only if you wish to deny the claim or participate in court mandated mediation. This might be helpful if you wish to set up a payment plan and the rep. from the payday loan accepts the terms. It will cost you to file an answer ( about 75.00). You definitly want to appear if you question the amount owed! Some judges are sympathetic to you as the debtor as far as the very high interest rates and might be willing to cute some of that interest on your behalf.
If you dont appear, the payday loan company will be awarded the court cost, prevailing party fee and any attorney fees that are applicable. They will then attempt to garnish you if you have not set up a repayment plan.
DO NOT ALLOW THEM TO THREATEN ARREST, THIS IS VIOLATION OF YOUR FDCPA RIGHTS AND YOU CAN SUE THEM FOR THE VIOLATION OR AT LEAST REPORT THEM FOR THE VIOLATION! GET THE NAME OF THE PERSON YOU SPOKE TO AND ALL PHONE/ADDRESS INFO. KEEP RECORDS OF THE CONVERSATION AND BASED ON THE STATE FEEL FREE TO RECORD THE CALL!
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∙ 14y ago
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Can a payday loan issue a warrant for your arrest if default?
No. If your state allows payday loans, then a payday lender could sue you civilly for default, just like any other loan. Many states have made payday lending illegal. You would have to research your state by checking with the financial regulatory agency. Payday lenders will often make threats of arrest, etc. That is illegal to do in all 50 states, in violation of Federal law. It is a common tactic to scare you into paying.
Can you go to jail for not paying back a payday loan?
my layer said that it is like a credit card so it is not a bad checkCan they send me to jail if I do not pay back a payday loanAnswer:No, you cannot be sent to jail on not paying your payday loan. One thing that you must remember that"Payday loan is a civil debt. It is not a case of Check Fraud"So the Debt Collector cannot take criminal charges against you. You must be aware of your right before taking any action.A reference is there that brief you most about your payday loan rights.
When using a payday express loan what is the proper terminology for postponing the payment until next payday and only paying the accrued interest?
When using a payday express loan, the proper terminology for postponing the payment until next payday and only paying the accrued interest is called an interest only loan
Can you be arrested for not paying a payday loan back in the state of Wisconsin?
No.
Can a warrant be placed for your arrest if you don't pay back a payday loan in South Carolina?
no, no payday lenders can prosecute you for bad checks, they knew that you did not have the funds available when you got the loan, because it is a postdated check, I just ate up a bunch of these sharks in bankruptcy cour when they got discharged, and ther was nothing that they could do about it
Can a payday loan issue a warrant for your arrest if default?
No. If your state allows payday loans, then a payday lender could sue you civilly for default, just like any other loan. Many states have made payday lending illegal. You would have to research your state by checking with the financial regulatory agency. Payday lenders will often make threats of arrest, etc. That is illegal to do in all 50 states, in violation of Federal law. It is a common tactic to scare you into paying.
Can a payday loan company issue a warrant for your arrest for defaulting on a loan?
No. Only the court (Judges) may issue a warrant for someone's arrest. No lender may have you arrested for not paying a loan, however, if you don't show up to court (or have legal representation at court), the judge may issue a bench warrant for your arrest (with the intention of getting you in front of the court, not to put you in jail). If the default, however, is subsequently believed to be a result of fraud, the judge may pass the particulars of the case to a prosecutor who will likely request a warrant for your arrest. In this case, the warrant is meant to hold you for trial in criminal court.
Can you go to jail for not paying back a payday loan?
my layer said that it is like a credit card so it is not a bad checkCan they send me to jail if I do not pay back a payday loanAnswer:No, you cannot be sent to jail on not paying your payday loan. One thing that you must remember that"Payday loan is a civil debt. It is not a case of Check Fraud"So the Debt Collector cannot take criminal charges against you. You must be aware of your right before taking any action.A reference is there that brief you most about your payday loan rights.
When using a payday express loan what is the proper terminology for postponing the payment until next payday and only paying the accrued interest?
When using a payday express loan, the proper terminology for postponing the payment until next payday and only paying the accrued interest is called an interest only loan
Can you go to jail in HoustonTexas for not paying a payday loan?
yes
Can you be arrested for not paying a payday loan back in the state of Wisconsin?
No.
When would getting a payday loan be a good idea?
A payday loan maybe a good idea if you can pay the money back as soon as you get your pay check. Also you can avoid late fees from paying bills late, so if the interest from the payday loan is less than the fee of paying the bills late, the payday loan would be a good idea.
Can a warrant be placed for your arrest if you don't pay back a payday loan in South Carolina?
no, no payday lenders can prosecute you for bad checks, they knew that you did not have the funds available when you got the loan, because it is a postdated check, I just ate up a bunch of these sharks in bankruptcy cour when they got discharged, and ther was nothing that they could do about it
Can a warrant be issued for you in the state of Florida for not repaying back all of a payday loan?
yes
Can you get sued by a payday loan company for moving out of state when you have a payday loan in the state that you are leaving?
Any lender has the right to sue regardless of the reason if you choose not to pay them back. Leaving a state where you took a payday loan is not a reason for a payday lender to sue you - not paying them back is.
What are the service fees for an Advance Payday Loan?
A person is usually responsible for paying at least 15% of their payday loan back. I don't think this is too great. The fees are what make me run from payday loans.
Can you go to jail if you owe payday loans in Colorado but you move to Texas?
No, you cannot go to jail for owing payday loans in Colorado or any other state. However, the lender may pursue collections through legal means. Moving to Texas does not eliminate your debt obligation, but the lender must follow Texas laws regarding debt collection.
