In a word, NO. You cannot be arrested for defaulting on a payday loan. That threat is used widely by many payday lenders - mostly internet lenders, when they know they could get into trouble for lending where they are not licensed to do so. They are counting on your fear of being arrested to keep you from looking into them further, and they are hoping your fear will make you pay anything to get them off your back.
Tell us what state you're in, who you have loans out with, and how much you have paid on each loan, and we'll be able to offer you some concrete advice.
A journey of a thousand miles begins with a single step...and becoming debt free is a journey!
I live in the state of Louisiana. One loan is with Cash Call. I made the first installment of 125.00. I am late with the second payment of 216.00 by 4days.
I also have a 300 dollar payday loan with Ace check cashing agency. My account is one week late. I have renewed this loan twice already. 45.00 each time.
My husband defaulted on a payday loan in Sacramento, Ca,
but now we live in Florida. There is an investagator telling my husband that if he does not pay then they will turn it over for prosecution as a mistameanor in Sacramento. The loan is over two years old.
If it were possible for them to do that, which it is not, then they certainly would not have waited 2 years. He is not an investigator either. He is a scumbag collector. Call his bluff and tell him to have the Sacremento CA District Attorney call you and you will work out payments with him/her.
You cannot be arrested for a debt. It is a civil matter not a criminal offense.
IF the company is LEGAL and Licensed to lend then the worst case scenario is you can be sued for nonpayment. The company can be awarded a judgment in there defense. This rarely happens, but it is possible. Hope that helped :wink:
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Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Posts: 4533
Credits: 65517.15 Send message to SUEBEEHONEY70
In a word, NO. You cannot be arrested for defaulting on a payday loan. That threat is used widely by many payday lenders - mostly internet lenders, when they know they could get into trouble for lending where they are not licensed to do so. They are counting on your fear of being arrested to keep you from looking into them further, and they are hoping your fear will make you pay anything to get them off your back.
Tell us what state you're in, who you have loans out with, and how much you have paid on each loan, and we'll be able to offer you some concrete advice.
I live in the state of Louisiana. One loan is with Cash Call. I made the first installment of 125.00. I am late with the second payment of 216.00 by 4days.
I also have a 300 dollar payday loan with Ace check cashing agency. My account is one week late. I have renewed this loan twice already. 45.00 each time.
Posts: 1801
Credits: 19872.05 Send message to Anthony Lemons
Muriel: Please visit my site for payday loan info.
Avoid these Agencies: http://www.budhibbs.com/coll_to_avoid_list.htm
Contact any government official here: http://www.congress.org/congressorg/home/ Contact any State Attorney General: http://www.naag.org/
Federal Trade Commission: http://www.ftc.gov/
Posts: 1801
Credits: 19872.05 Send message to Anthony Lemons
No, you can not be arrested. Don't allow anyone to scare you with illegal threats of arrest.
Avoid these Agencies: http://www.budhibbs.com/coll_to_avoid_list.htm
Contact any government official here: http://www.congress.org/congressorg/home/ Contact any State Attorney General: http://www.naag.org/
Federal Trade Commission: http://www.ftc.gov/
My husband defaulted on a payday loan in Sacramento, Ca,
but now we live in Florida. There is an investagator telling my husband that if he does not pay then they will turn it over for prosecution as a mistameanor in Sacramento. The loan is over two years old.
Posts: 1071
Credits: 13535.9 Send message to DOLLARSandSINCE
If it were possible for them to do that, which it is not, then they certainly would not have waited 2 years. He is not an investigator either. He is a scumbag collector. Call his bluff and tell him to have the Sacremento CA District Attorney call you and you will work out payments with him/her.
I live in Pennsylvania and I have a person calling me threatening to have me arrested today for a payday loan that I actually believe I paid already.
Posts: 14396
Credits: 111412.77042814 Send message to paulmergel
tell the bottomfeeder to come and get you.watch them backtrack big time.
Have a payday loan in Texas and i lost my job in the process can u be arrested for defaulting on this
Posts: 2924
Credits: 17341.649242083 Send message to Cool_Abyss
You cannot be arrested for a debt. It is a civil matter not a criminal offense.
IF the company is LEGAL and Licensed to lend then the worst case scenario is you can be sued for nonpayment. The company can be awarded a judgment in there defense. This rarely happens, but it is possible. Hope that helped :wink:
-Aristotle-
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