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Payday payday advance - Can I Be Arrested For Default on Online payday advance?
If you a frequenter of online payday advances, you've probably pondered this question: can I be arrested for default on online payday advance? The simple answer, no. There is no law that allows you to be arrested for not paying off online payday advance debt. In fact, according to the Fair Debt Collections Practices Act (FDCPA), it is ILLEGAL for a lending institution to threaten a person with the possibility of being arrested for non-payment of a debt.
No matter how many threats you receive about being arrested or charged with a crime, it's not going to happen, period. If a person could be arrested for defaulting on a online payday advance, the court systems would be twice, if not 3 times, as jam packed as they are now. Luckily though, that is not the case, so stop worrying about being arrested for defaulting on a online payday advance!
Unfortunately, that is but one worry out of the way; there are many others lining up the longer you continue to avoid repayment on your online payday advance.
What type of worries are there? Well, the rapid increase of fees & penalties for one. The longer it takes for you to pay off the debt, the more fees and interest that will accrue. These additional fees and interest are going to increase as time goes on, making it exponentially more difficult to pay off the payday payday advance loan.
Aside from the additional fees, there is also the matter of your credit score, which will begin steadily declining as the payday advance loan remains unpaid. The larger the loan and the longer the debt remains, the harder the hit will be to your credit rating. If the cycle continues and you are continually late with your online payday advance payments (or if you don't pay them at all), your credit score will be in the toilet within just a few months time.
Get your online payday advance now
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