Can I be arrested for not being able to pay back a loan taken out over the internet?
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Can I be arrested for not being able to pay back a loan taken out over the internet?
Asked on July 17, 2013 under Bankruptcy Law, Indiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
No, it is not a crime. It is a debt that the creditor will haunt you about or obtain a judgement against you for not paying back. If this is a pay day loan check your state laws. They are illegal in many states, such as New York. SO although they can call you constantly they can do nothing else. Good luck.
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