Legal Question in Credit and Debt Law in Colorado
payday loans
My friend has S.S.I and she got a payday loan what happens if she doesn't pay the payday loan back can she go to jail or will it be on her credit
Asked on 9/27/08, 9:18 am
1 Answer from Attorneys
Mark Cohen
The Cohen Law Group, A Professional Corporation
Re: payday loans
I do not think your friend is guilty of a criminal offense, unless it can be shown that she had no intent to pay the loan back when she first made application. An unpaid debt can result in a negative credit entry.
Answered on 9/27/08, 11:02 am