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Yes you can be sued for this debt, but be aware that it cost the lender or company more money for the court costs. This is usually not the route they want to go, it will probably end up on your credit report as an unpaid debt or collection account. You can settle on this debt for .10 cents on the dollar or 30% of the balance owed once a becomes a collection account. Make sure they when you come to an agreement you get everything in writing before you make a payment. Then request that they update your credit report stating that this account was "Settled in Full", also request that they send you letter with this statement. I always recommend that you send a certified letter/return reciept to all three bureaus for your own sake. Good Luck with this process, and do not stress out about it!
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Can you go to jail for title loan?
Can u go to jail for now paid a title loan
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.
Will having a joint bank account with someone who is behind on their personal loan affect your own ability to get a personal loan?
No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.
Can you go to jail for not paying a bank loan?
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.
What is a Post Office personal loan?
A Post Office personal loan is a competitive personal loan with various amounts. One can ask for a Post Office personal loan for different periods of time.
How many months jail for loan defaulters in uae?
24 I'm sure :-) :-) :-)
Can you go to jail for title loan?
Can u go to jail for now paid a title loan
A customer wants a personal loan for 400.00 His repayments for the loan are 40.00 per month for 12 months How much of his total repayment is interest?
£80.00
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.
Will having a joint bank account with someone who is behind on their personal loan affect your own ability to get a personal loan?
No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.
What is the maximum tenor period when applying for a personal loan in Dubai?
The tenor periods generally range from 6 months to 48 months for personal loans in Dubai. Just select the correct option when applying for the loan. Also, ensure that it is from a renowned bank so that the documentation work is minimal.
Can you be taken to jail for a car loan being overdue?
No. A car loan is a civil as opposed to a criminal matter. Being behind on a debt is not a criminal matter, therefore you cannot be arrested for it. Never the less, if you are behind on a car loan and if the loan is secured by a lien on the car, you may be arrested if you interfere with the loan company's attempts to repossess the car, provided that state you are in has laws that make it a crime to interfere with a repossession. But even in this instance, you are not subject to arrest for being behind on the loan, you are subject to arrest for interfering with the repossession.
Can you go to jail for not paying a bank loan?
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.
In Mississippi how long do you have to be on your car loan before they can repossess?
You have to be behind on payments for 3-4 months before the bank will do anything usually. 3-4 months is the industry standard, but every loan is different. A bank can put stipulations of any type on any loan, within the law. So the answer would be it depends on your loan.
What can you do if you are several months behind on an auto loan in Texas?
"good advise"???? PAY UP!!! Or buy NEW shoes, you will need them.
What is a Post Office personal loan?
A Post Office personal loan is a competitive personal loan with various amounts. One can ask for a Post Office personal loan for different periods of time.
Can you go to jail for a title loan?
No. You cannot.
