In the US, the answer is no.
Jail is not a penalty for not paying a bank loan. The bank can bring a judgment against the person who does not pay the loan back.
There are many places one might go to find assistance on paying back a federal student loan. Some employment programs offer assistance as part of job bonuses.
yes
You can't go to jail for failing to pay back your loan. Lenders have other means of getting their money back. There is no uniform way in dealing with it and many states have different laws regarding it. If your lender can't get you to pay back the loan on their own or through a collections agency, there is the possibility that they could take you to court over the matter.
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.
if you do not have a way of paying back a loan, then you will have to go without until you find employment, whether it is washing dishes or scrubbing floors, get some work first then apply for a loan, once you have o9btained the loan, negotiate the payment plans.
There is no reason to repay a loan after a discharged bankruptcy, if you have done so, you can reclaim all your money from the creditor (you'll have to go through court).
No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.
If you continue paying your bills on time and work on lowering your debt your score will start to go back up.
yes
As far as student loans go, you have a 6 month grace period after you stop attending school.
yes, you can take courses at a local community college or go to a university. You can usually get a loan, and its not hard to pay it back, even with a bad paying job!