What would happen if you didn’t pay back a bank loan?
Question by Moatilliatta: What would happen if you didn’t pay back a bank loan?
What if you took out a bank loan or some other loan, then left the country and left no money in your own bank accounts? Could legal action be taken or would they just mark it against your credit and keep accruing the debt?
Not asking if I could get this loan, but if I indeed already had and decided to do that, what kind of legal repercussions there may be.
Thanks
Best answer:
Answer by Huntsman
Will you ever need a loan in the new country? If so, they will ask for your old information and check your reports and see your history.
Do this only if you know you will never need credit again. A landlord in a new country will also check.
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Can a pay day loan take out money from another account that you didn’t authorize?
Question by Shanta: Can a pay day loan take out money from another account that you didn’t authorize?
I recently got a pay day loan. I paid on it for a while and decided to contact debt consolidation program to assist. I closed out the account that the pay day loan was with. I opened up a new account. I so happened to help my mom with a loan and pay day loan company I had previously tried to take money from my new account, is that legal?
Best answer:
Answer by roderick_young
I don’t know about legal, but it sounds moral. Check the agreement you signed with the loan company, it may provide for something like this.
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