They double charge you then eventually screw up your credit, and other payday loan offices will find out, and you'll never be able to get a loan from them again. PAY BACK the loan, they helped you in good faith, now you do the right thing and pay them back, otherwise youre nothing but a bank robber.
What happens if you dont pay back a payday loan?
Read your contract. Probably a huge penalty.
What happens if you dont pay back a payday loan?
Well, they can take whatever you have put up for collateral, they can harass you to pay the loan, they can hire other people to harass you to pay off the loan, they can report your non-payment to the credit reporting services, making it more difficult for you to get loans in the future, and finally, if they end up writing off the loan, you will end up having to pay taxes on the amount they wrote off (as ordinary income). By the way, the harassment can last for well over 5 years, and the smudge on your credit report will last 5 years.
What happens if you dont pay back a payday loan?
If it's from some guy named Guido, you get your kneecaps modified.
What happens if you dont pay back a payday loan?
They take your check.
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