Can you be arrested for not paying a payday loan?

Question

Can you be arrested for not paying a payday loan?

Answer 1

The police won't be at your door.

If you don't pay a payday loan, the worst kind of loan,you will soon find yourself owing many times the amount of the loan and the company will have collectors on to you. There will be huge default fees, interest is in the hundreds of percent a year, not 20 or 30%. You could soon find yourself owing thousands over a small payday loan gone bad. Find some way to pay it.

Answer 2

I hope not.....I had one that went to collections. I paid  it because it only became a bigger debt.

Answer 3

I do not think so but it will go on your credit.

Answer 4

No, we do not have debters prisons today. It will go on your credit report. Depending on how your credit was before this incedent will play into your being able to get more credit in the future. More than likely you will pay a higher interest for a few years but not many.

Answer 5

I dont think so.