2 weeks ago, i was short of money, then I borrowed $1000 from fast cash company and promised to pay back. Then, I closed my bank and my intention was to get away with this money. They keep calllig me at my work place and my cell phone but I disconnected. What will happen to me if i dont pay them? would i go to jail for this?
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#2 greta - 14 November, 6:22 AM
You will end up in small claims and that 1K will end up being 2 K they get the judgment then garnish your wages. These places do NOT give you.
#3 wartz - 16 November, 11:16 PM
They will probably sue you for the $1,000 plus renewal charges.
#4 Donnie Mac - 19 November, 10:02 PM
This will trash your credit history and you will have great difficulty getting a car loan, a mortgage, a credit card, or, worst of all, employers look at credit reports now for promotions and hiring.
You can go to jail if they can prove you had no intention of paying them back.
You screwed up big time!
#5 JJ - 21 November, 4:48 PM
The best thing you can do is to talk to them and make arrangements to pay them back in small installments. If it is someone like “A……” they will make those arrangements to help you out. They are very patient and would rather have thier money back then suing you and spending more money.
Call and see what they say.
#6 chungsterama - 24 November, 6:09 AM
Yes, it is possible you can go to jail depending on your state’s penal code on theft.
If the cash advance company was smart, it would sue you in small claims court and get a judgement based on your actions. If you can’t pay, then they should forgive the debt and now you have to deal with the IRS. If you can’t pay the IRS (and the state tax authority) since debt forgiveness is considered taxable income, you could go to jail for tax evasion.
A few companies know about the debt forgiveness angle and push the victim into dealing with the IRS — and you don’t want to have the IRS after you.
Good luck finding a solution to your problem.
Two big guys named Vito and Sonny will be around to collect.