Comments on: what would happen to me if I don’t pay back money I borrowed from fast cash advanced company?

By: chungsterama

chungsterama — Mon, 24 Nov 2008 10:09:38 +0000

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.

By: JJ

JJ — Fri, 21 Nov 2008 20:48:22 +0000

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.

By: Donnie Mac

Donnie Mac — Thu, 20 Nov 2008 02:02:56 +0000

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!

By: wartz

wartz — Mon, 17 Nov 2008 03:16:08 +0000

They will probably sue you for the $1,000 plus renewal charges.

By: greta

greta — Fri, 14 Nov 2008 10:22:36 +0000

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.

By: newjerseyguy

newjerseyguy — Wed, 12 Nov 2008 18:50:27 +0000

Two big guys named Vito and Sonny will be around to collect.