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The consequences of borrowing money with no intention of paying it back include damaging your credit score, facing legal action such as being sued or having assets seized, and potentially facing criminal charges for fraud. This behavior can also harm your relationships with lenders and make it difficult to borrow money in the future.
What else can I help you with?
Is it illegal to not pay someone back?
Failing to repay a debt is not typically illegal, but it can lead to civil consequences such as being sued in court. However, borrowing money with no intention of repaying it could be considered fraud, which is illegal.
Does borrowing money without paying counts as stealing?
Yes or no it matters how you look at it
Who said He that goes a borrowing goes a sorrowing?
Benjamin Franklin is the person who the quote "He that goes a borrowing goes a sorrowing" is attributed to.
Loans to Germany during world war two went where?
You might be thinking of the "lend-lease" merry go round after WWI when Germany was paying America with money it was borrowing from Britain who was borrowing from...you guessed it...the USA.
Why do you pay interest first on a mortgage?
You pay interest first on a mortgage because it is the cost of borrowing money from the lender. By paying the interest first, the lender is compensated for lending you the money before you start paying off the principal amount of the loan.
The cost of borrowing money is called the?
The cost of borrowing money is called interest.
What the advantages about borrowing money?
you get money
Why is the united states borrowing money from the nation for wars?
If you mean "why is the U.S. borrowing money from the U.N.", the answer is because the U.S. doesn't have enough of its own. If you mean "why is the U.S. borrowing money from the country" then the answer would be that the U.S. is not borrowing its own money, its just using it.
What do you call a charge for borrowing money?
a debtor with a dick
Where can you find out about borrowing money?
There are multiple places one can find out about borrowing money. It depends if one is attempting to research borrowing money from a bank, a money lender, or another source. If borrowing from a bank, then it makes sense to go straight to the bank for the information. The same goes for a money lender.
What is buying on margin?
its borrowing money to invest in the Stock Market
What is the amount of money charged for borrowing money?
Interest
