I've 3 payday loans totaling a balance of $3,000. I've defaulted on those since the beginning of February due to sudden loss of income. Can the lenders arrest me for the same?

1 Answers
-7 votes
Vote up!
Vote down!

Even if payday lending is legal in your state and the lending firm has valid license to do business, they can't put you behind the bar for not paying back payday loan as it's not a criminal offense. You can't be arrested unless you deliberately committed fraud.

Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

Last Updated on: Fri, 8 Jun 2018

BBB-A--Rating TrustLink logo TrustLink logo