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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Q&A: How would an auto loan work if you wanted to be financed through your bank and not the car dealer?
Question by SimplyHappy: How would an auto loan work if you wanted to be financed through your bank and not the car dealer?
Would I have to get the bank loan first then pay the dealer?
Best answer:
Answer by Jay P
You have the right to have a car financed through whatever bank you chose. It is always a good idea to find the lowest rate you can find and then go to the dealer. The dealer may be able to beat that rate but you never know. Should you go with another bank, they will either cut a check directly to the dealer or write you a check. Either way works fine.
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What would happen if I stop payment on a large payday cash advance check?
Question by Ang: What would happen if I stop payment on a large payday cash advance check?
Would they let me just pay them back in smaller payments? Or would I get in some kind of trouble?
1. I have not stopped payment yet, it’s due to come thru the bank Monday, do you think I can call them beforehand and set smallest payment up?
2. My check will not bounce, my bank will cash it and i will go negative a grand.
3. This is a store lender, check-smart, not internet lender.
Best answer:
Answer by Answer Guru
Well here’s something I just pulled up: “If the account is short on funds to cover the check, the borrower may now face a bounced check fee from their bank in addition to the costs of the loan, and the loan may incur additional fees and/or an increased interest rate as a result of the failure to pay”. That sounds serious, unless you know your going to have doubled that check in like 3 months, I would just pay and get it over with.
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