Broke, sued, socially ostracized, deceased.
A sudden debt pay off is when someone pays back a loan quickly.
Regardless of academic status, if someone gives you money in the form of a loan, you must pay them back.
No, you cannot pay back a loan with the same loan money.
You can't rent a cosigner for a loan application. A cosigner is someone who agrees to be responsible for the loan if you can't pay it back. They must have good credit and be willing to take on the risk. It's not something you can pay someone to do for you.
What you do with a loan is irrelevant. You always have to pay it back.
Failing to pay back a loan is called defaulting on the loan.
what can be done to anyone that don't pay back a payday loan and a civil charge is brought against them
It is probably a good idea to pay back any loan. A loan, by definition, is something being furnished on condition of being returned. If you don't pay it back, it is not a loan. It is stealing.
To loan money to someone means to give your own money to someone else for a period of time. Then, the receiver will eventually pay the lender back the money (usually with interest).
Yes, it is possible to pay back your 401k loan early.
When someone defaults on a loan, it is when you borrow money from a bank and you say that you are going to pay it back, but you do not, therefore stealing their money. This can wreck your credit score and get you in deep trouble.
A cosigner is someone who agrees to pay back the loan if the primary borrower cannot, while a cobuyer is someone who shares ownership of the purchased item and is equally responsible for the loan payments.