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By: Abraham David

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Friday, 24-Dec-2010 15:13 Email | Share | | Bookmark
Can I Be Arrested For Default on Quid Loan

If you a frequenter of payday loans, you've in all probability pondered this question: can I be in detention for default on Quid Loan? The straightforward answer, no. There is no regulation that allows you to be under arrest for not paying off payday loan debt. In fact, according to the Fair Debt Collections Practices Act (FDCPA), it is ILLEGAL for a lending institution to intimidate a person with the opportunity of being arrested for non-payment of a debt.
No matter how many threats you receive about being arrested or charged with a crime, it's not going to happen, period. If a person could be arrested for defaulting on a payday loan, the court systems would be twice, if not 3 times, as jam-packed as they are currently. Fortunately though, that is not the casing, so stop disquieting about person arrested for failure to pay on a payday loan!

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