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== == They can take you to court to get a Judgment against you, and if you still do not pay the debt, you can go to jail for "failing to obey a Judge's Order." A judge can also order you to sell property that you own, such as furniture, tv or a car, to liquidate assets into cash, to pay the lender off. This is a very serious thing to have happen and you should do everything in your power to not get into that situation in court. It will ruin your future ability to borrow at all, at any price. No body will want you as a tenant either, as your having been slapped with a Judgment will make you a bad property rental risk as well. You will really pay, may times over, if you don't repay this debt, quickly. Don't let it go to court.

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โˆ™ 2008-05-11 13:05:44
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Q: In the UK what can lenders do if you refuse to pay back an unsecured personal loan?
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Related questions

Why are student loans considered unsecured?

Lenders don't have any collateral to seize if the loan doesn't get paid back.

What qualifications must a borrower have to get unsecured loans?

A borrower must have good standing credit to get unsecured loans. Also they must be good of their word, in that they are trustworthy to pay back the loan. A credit score of over 650 and also having a cosigner to receive an unsecured loan is the most desirable to lenders.

Did Personal Credit Services lenders loan you the amount you applied for?

I have not heard back from all of the lenders but so far two of the five lenders I applied for credit with did approve me for the personal loans I requested. Their services were worth the fee at least and there is a guarantee that if you don't receive the personal credit then they will refund your money. There is a policy that you have to apply to all of the lenders before they will issue you a credit but so far their service seems worth the fee. Let me know if you have any luck with the lenders you applied to - for now I would recommend them for credit.

What types of unsecured loans are the safest?

Unsecured loans are best used for small purchases. It is unwise to take a large unsecured loan due to the fact that more will be confiscated to pay it back.

What is the relationship between lenders and borrowers?

Lenders have something (usually money) that the borrowers want; and the Borrowers have something that the Lenders want (their money back).

What is the law on personal property landlord refuse to give back?

The landlord refuses to return personal property until the balance of his rent has been paid. 3 months have passed.

Can you get an unsecured loan with bad credit?

It is very difficult to get an unsecured loan with bad credit. This is because of the nature of the loan. When a person gets an unsecured loan, it means there is no collateral to back the loan up with.

What do lenders do?

As their name suggests, lenders lend money to their customers. This money is then paid back with interested added to it.

How do secure and unsecured loans differ?

With a secured loan, you back up your loan with some sort of financial guarantee like some assets. With an unsecured loan you only have your credit to back up the loan.

What does Brutus refuse to do if he is defeated?

refuse to go back to Rome in chains

Is an auto loan a personal loan?

An auto loan and a personal loan are both loans. Personal loans can be secured or unsecured. Secured meaning that there is some form of collateral to back up the loan in the event that the borrower defaults. Unsecured loans have no collateral which usually translates into higher interest rates due to the added risk on the lender. An auto loan may carry a lower interest rate due to it being secured; if you don't make the payments you lose the car.

How does a person get back their personal belongings from an exes house?

* It's best to contact the ex to ask if they can come over to get their personal affects and if they refuse or give a time to do so and not be there when the person gets there then the police can escort the person to the exes house to get their personal affects.

What is the corporate bankruptcy law?

Corporate bankruptcy laws consists of protection for the companies involved, Stockholders are usually the ones who end up not getting refunded even with the law behind them. Unsecured creditors are next in line for repayments. Secured lenders like banks are certain to get what is owed to them back.

How do you get back your personal items from a repossessed car in Ohio if the bank won't return your calls and you don't know which repo company took it and are they obligated to give you your stuff?

In Ohio...they are required to give back your personal belongings. This does not include anything that is a permanent fixture on/in the a stereo system or rims. If they refuse to give back your personal belongings...I would contact an attorney and pursue legal action.

How many kind of personal loan?

A personal loan is a loan that can be designated for any number of personal expenses. There are two types of personal loans available: secured personal loans and unsecured personal loans. A secured personal loan is one that uses collateral, such as a house or car, to back the loan. To be eligible for unsecured personal loans, which are by far much more common, you don't need to put up any kind of collateral. You can apply for a personal loan at any bank, building agency, or other official lender.

What does a personal guarantee look like?

A personal guarantee is a signature promise that money loaned to a company will be repaid. The owners or partners of a corporation sign documents, and put there personal finances on the line, with the guarantee that all money loaned to the company will be paid back. If money is not repaid, lenders have the ability to request repayment from the individuals who guaranteed payment.

Is it legal for an employer to refuse to return to to you your personal property after he terminates your employment and if not can you file theft charges against him in Texas?

Its personal property its nothing the law can do you can take him to small claim court to get your stuff back. No you can't file theft charges against him

Do lenders have stringent guidelines when it comes to borrowers with bad credit?

People with bad credit have a hard time getting a loan. Lenders want to ensure they will be paid back.

Which company will give me an unsecured loan?

Any cash advance store will give you an unsecured loan as long as you have a checking account and have a job. The interest rates are a lot higher and you have to have it paid back in a certain length of time.

Do unsecured loans affect your credit rating?

An Unsecured loan can very much affect your credit rating, but it depends on whether you pay it back and keep your promise. If not, your credit rating can severely drop and you will lose trust with your provider.

What are lenders evaluating when they review your sources of income and your expenses?

Capacity to pay back their loan

What is an unsecured promissory note?

A promissory note is a document where you agree or promise to repay a certain amount of money to someone. If it is unsecured, it means that nothing was put up as collateral to back up your promise [such as a house, a car, stocks, etc. ].

Can a student loan be considered a unsecured debt?

A student loan is an unsecured debt. To be secured, there needs to be something, generally phyisical (but not always), that can be taken (repossessed), and sold to satisfy the debt if it isn't paid. Kinda' hard to take back an education!

What is an unsecured bad debt loan?

An unsecured loan would be one where the lender is relying on the borrower's promise that the loan will be paid back. There is no collateral involved and that is risky. Bad debt would be considered consumer debt or one that cannot be recovered.

What can i do if i cant afford to pay back my student loans?

If you cannot afford to pay back your student loans, you can communicate with your lenders to defer your loan.