What will happen if someone does not repay an unsecured loan?

Question by Sharon B: What will happen if someone does not repay an unsecured loan?
I borrowed $ 13,000 from a finance company, after about a year of repaying the loan I had noticed less than $ 100.00 actually went towards the loan I payed about $ 2,736 for a year,I had asked them to help me with the payment and the interest rate they told me their was nothing they could do so I stopped my bank draft by closing my bank account now I`m worried they might try to seize my property can you give me some answers.

Best answer:

Answer by David M
They are about to turn your life into hell. They will sue you, most likely win a judgment against you and will attack your bank accounts and garnish your wages. And oh yeah, your credit rating will be shot making it next to impossible to get credit cards, loans or to rent an apartment or get a cell phone. Your best bet is to try to work with them and pay off this debt.

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