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I think the term is fraud and depending on how much the loan is the company might procecute. It certainly isn’t going to do your credit rating any good.
I miss the good old days when if someone wouldn’t pay up we would just break their legs
I would asume so. Get a job and pay it off like a man!
YES, if it is over $100
Depends.
If you wrote a check for you repayment and it bounced or you stopped payment on it then that’s a Felony and you could get jail time.
If on the other hand you simply did not pay them back, then they can still sue you and get a judgment. At that point they can attach bank accounts, garnish wages (if your State allows it) and file liens on any property you may own like cars, boats, land and homes.
hey guy, i’ve known two different people who have defaulted and had repercusions over this. one received 90 days, plus violation of probation the other got 6 years. the best thing to do if you cannot get that payment there on time is call them. any time that you call them it is notated and you can gab grace days unti lyou get that payment in to hem. be warned though, dont forget to notify them of late payment.
http://www.attorneygeneral.org/gencheck.html
refer to this site.. u most certainly can not go to jail.. they can sue u civilly, garnish ur wages, empty ur bank acct but no jail time can be done.. this is the atty general for tennessee’s page.. hope this helps this is as legally accurate as it gets! scroll down a little ways and u will see the heading “cash advance/hold checks” or something similar to that..