I’ve seen people online asking if they can be arrested for defaulting on a payday loan, and I know why. Because collection agencies have unscrupulous collectors who use foul tactics to frighten borrowers who have defaulted on repayment(s). Tell the collection agency our payday loan company you are recording the phone call. Just watch what [...]
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10 Responses to “Can I be Arrested for Default on a Payday Loan”
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January 6th, 2009 at 12:14 am
Getting a laugh out of the Karl Rove picture. Chubby little dude.
But on point – defaulting on payments for payday loans can not result in someone being arrested. Ridiculous and I can’t believe that people would believe anyone who tells them that.
Who would get a payday loan anyway….god.
January 6th, 2009 at 2:40 pm
Thanks for this information. I had a collection agency calling here everyday for a month threatening my roomate (not kidding here) saying all sorts of stupid things
January 6th, 2009 at 2:41 pm
Don’t worry about it, you can’t be arrested for this! Just HANG UP!
January 6th, 2009 at 2:43 pm
Ever heard of call display, or don’t the phones in jail have that?
If they could arrest you for missing payday loan payments the cops would have to hire about 300,000 more patrol officers in Los Angeles alone.
Argh….why to borrowers even listen to these reptiles.
January 6th, 2009 at 2:57 pm
Like the “one phone call from jail” joke.
But let’s face it when you are behind on payments and you are actually using payady loan or cash advance companies you’re going to have to pay it back or you’re credit rating is going to be destroyed. These companies really get nasty and “jump the gun” like Peter mentioned above.
Great article Peter.
October 7th, 2009 at 1:15 pm
[...] bugging you all the time. Some even threaten to put you in jail, and if you ever have that happen, please read this post about recording your phone calls with them and turning them into the [...]
November 28th, 2009 at 9:43 am
i just had a call last night saying I defaulted and it was fraud. I was told i would be served and arrested at 11:00am on monday if i didn’t pay immediantly. I am terrified
December 6th, 2009 at 10:21 pm
Don’t be terrified. They can’t do anything to you and they are hired to simply read off a script. I had a friend who did this for a summer job.
It’s all bull – RELAX!!!
June 14th, 2010 at 10:32 am
I tried recording the collection agents phone call thing, and it worked perfectly. Even better, I had a one collection agent go ahead and get nasty and threaten me with jail if I didn’t pay up – I gave the recording to the cops and the cops said they sent it to the proper authority – will be fun to see what happens. I might never know and the cops will probably never tell me what happens with the recording.
Anyway, they’re all just blowing smoke. You can’t go to jail for missing loan payments.
August 16th, 2010 at 11:05 am
[...] At Clf we get allot of traffic from borrowers who have collection agency scumbags chasing them, harassing them, and being downright unsportsmanlike, by threatening to have them put in jail. [...]