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In the state of Georgia can you go to jail for defaulting on a car loan?
Wiki User
∙ 14y ago
No.
Wiki User
∙ 14y ago
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If you default on a payday loan in Texas can you go to Jail?
You can't go to jail anywhere simply for defaulting on a payday loan, anymore than you can for defaulting on a mortgage, car loan or credit card. There has to be something more, like using someone else's identity to obtain the loan, for a criminal offense to have occurred.
Can you go to jail if you default on a payday loan in Kentucky?
No, one cannot go to jail by defaulting on any loan. One may go to jail based on one of the two (2) results, however, of defaulting on a loan: * If the court decides that check fraud has been committed during the course of the civil case, after the decision is made in the civil case the judge may pass on the particulars to the prosecutor for criminal prosecution. * If the borrower has a history of defaulting on loans, a similar process may occur which lands the borrower in jail.
Can you be put in jail for not paying back a payday loan in Missouri?
Defaulting on a payday loan is a civil crime - not a criminal offense. Therefore, you shouldn't have any jail time in Missouri for this. And, if a debt collector is threatening that you can and will go to jail for this, then they're full of it!
Does defaulting on a payday loan constitute check fraud?
Defaulting on a payday loan does not, in and of itself, constitute check fraud.
What are the consequences of defaulting on a personal loan in Texas?
Defaulting on a personal loan can effect your credit in a negative way. The lower your credit rating, the harder it is to get a loan in the future. Loan default is a civil matter, not criminal, so there is no need to worry about any jail time being served because of it. If you take out a personal loan to purchase a car and then default on the payments, the bank can take the car from you. Which will then leave a repossession on your credit report.
If you default on a payday loan in Texas can you go to Jail?
You can't go to jail anywhere simply for defaulting on a payday loan, anymore than you can for defaulting on a mortgage, car loan or credit card. There has to be something more, like using someone else's identity to obtain the loan, for a criminal offense to have occurred.
Can you go to jail if you default on a payday loan in Kentucky?
No, one cannot go to jail by defaulting on any loan. One may go to jail based on one of the two (2) results, however, of defaulting on a loan: * If the court decides that check fraud has been committed during the course of the civil case, after the decision is made in the civil case the judge may pass on the particulars to the prosecutor for criminal prosecution. * If the borrower has a history of defaulting on loans, a similar process may occur which lands the borrower in jail.
Can you be put in jail for not paying back a payday loan in Missouri?
Defaulting on a payday loan is a civil crime - not a criminal offense. Therefore, you shouldn't have any jail time in Missouri for this. And, if a debt collector is threatening that you can and will go to jail for this, then they're full of it!
Can defaulting on a car loan ever be considered a crime in the state of California?
Only to financiers
Does defaulting on a payday loan constitute check fraud?
Defaulting on a payday loan does not, in and of itself, constitute check fraud.
What are the consequences of defaulting on a personal loan in Texas?
Defaulting on a personal loan can effect your credit in a negative way. The lower your credit rating, the harder it is to get a loan in the future. Loan default is a civil matter, not criminal, so there is no need to worry about any jail time being served because of it. If you take out a personal loan to purchase a car and then default on the payments, the bank can take the car from you. Which will then leave a repossession on your credit report.
Would not result from defaulting on a loan?
Imprisonment
What term is used for not paying on a loan?
Defaulting.
Student loans in the state of WV?
It is very, very advisable to avoid defaulting on your student loans in any location. Some negative consequences of defaulting on a student loan can be found here http://www2.ed.gov/offices/OSFAP/DCS/default.html. However, if you have already defaulted, or are very close to defaulting, here is a guide to getting out of a defaulted student loan: http://www2.ed.gov/offices/OSFAP/DCS/repaying.html. Don't give up, defaulting on your loan is not worth it!
What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
Do you have to pay a loan back?
Yes. Defaulting on your loans is against the law.
How does defaulting on a car loan affect your future credit?
Any default on any loan will damage your credit in the future.
