If you a frequenter of payday loans, you’ve probably pondered this question: can I be arrested for default on payday loan? The simple answer, no. There is no law that allows you to be arrested for not paying off payday loan 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 payday loan, 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 payday loan!
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 payday loan.
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 cash advance loan.
Full article: Payday Cash Advance - Can I Be Arrested For Default on Payday Loan?
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