It depends. In case of legal payday loans, the companies can impose additional interest rates and fees.

What happens when borrowers choose to not pay off the principal balance on pdls?

1 Answers
Votes: 
-1 vote
+
Vote up!
-
Vote down!

It depends. In case of legal payday loans, the companies can impose additional interest rates and fees. As far as the illegal payday loans are concerned, you're only obliged to pay the principal amount morally. You are not legally obligated for it. So, you can't be sued for the debt.  


Ask Question

Waterfall approach to debt free ™

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

BBB-A--Rating