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In the state on California can you get jail time for not paying back a online payday loan?
Wiki User
∙ 14y ago
No. The consequences to your loan well be found in your contract with the loan company. Most online payday loan companies are willing to work with and help you pay the principle back. Before jumping ship and not paying I would contact them tell them you would like to pay back the principle and they should work with you. But you shouldn't worry, it would be very hard for an online payday loan company to send you to jail.
Learn more about Payday loans at www.getecash.com
Wiki User
∙ 14y ago
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Can you be arrested for not paying a payday loan back in the state of Wisconsin?
No.
What happens if a payday loan company is not licensed in your state?
Then they cannot conduct business in your state. Many states have made payday lending illegal. You would have to check with your State's financial regualtory agency. Online payday lenders will attempt to tell you that the State THEY are in has legal authority. This is not true. The state you are in has the authority.
Can you get arrested for not paying back a payday loan in the state of South Dakota?
No, but you can be taken to court and have late fees applied to the balance.
Are online payday loans in Missouri legal?
Physical payday loan stores in Missouri must be licensed at the state level and are required to keep interest rates and fees below 26%. However, most payday loan companies choose not to operate within the state because state regulations make it difficult to remain profitable given the high percentage of loan defaults. Most residents of Missouri tend to utilize online payday loans from sites like Instant Payday Loans because they can obtain more than the $500 maximum allowed by Missouri.
Can an online payday loan garnish your wages in the State of Maryland?
No. Payday loans are illegal in the State of Maryland. Collectors are also prohibited from attempting to collect on payday loans in Maryland. Any lender or collector must be licensed by the State of Maryland. These businesses are not. You can report any issues you are having with harassment to the Maryland Commissioner of Financial Regulation.
Can you be arrested for not paying a payday loan back in the state of Wisconsin?
No.
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.
Are online payday loans legal in Texas?
Yes, online payday loans are legal in the state of Texas. The state features very strict rules for lenders, so you'll have to find a lender that follows these laws properly.
What happens if a payday loan company is not licensed in your state?
Then they cannot conduct business in your state. Many states have made payday lending illegal. You would have to check with your State's financial regualtory agency. Online payday lenders will attempt to tell you that the State THEY are in has legal authority. This is not true. The state you are in has the authority.
Can you get arrested for not paying back a payday loan in the state of South Dakota?
No, but you can be taken to court and have late fees applied to the balance.
Can you gamble online in the state of California?
Yes you can gamble online from the state of California as there is no federal, or state law against it.
What are the terms and conditions for a payday loan originated in California?
Every payday lender has different terms and conditions, however, they must all follow the laws of the state in which they are licensed. The laws associated with payday loans in California are represented by Senate Bill (SB) 834. A link to the bill information is provided below this answer.
Are online paycheck loans a smart idea?
Payday loans are a bad idea for people with a bad credit rating. Payday lenders are bottom feeders who charge exorbitant amounts of interest. You can find your state's payday loan laws at http://paydayloansfaq.org/payday-law/payday-loan-laws.html/
What is the next highest paying state for social security?
California
Are online payday loans in Missouri legal?
Physical payday loan stores in Missouri must be licensed at the state level and are required to keep interest rates and fees below 26%. However, most payday loan companies choose not to operate within the state because state regulations make it difficult to remain profitable given the high percentage of loan defaults. Most residents of Missouri tend to utilize online payday loans from sites like Instant Payday Loans because they can obtain more than the $500 maximum allowed by Missouri.
Can an online payday loan garnish your wages in the State of Maryland?
No. Payday loans are illegal in the State of Maryland. Collectors are also prohibited from attempting to collect on payday loans in Maryland. Any lender or collector must be licensed by the State of Maryland. These businesses are not. You can report any issues you are having with harassment to the Maryland Commissioner of Financial Regulation.
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.
