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.

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Answered on 9/27/08, 11:02 am


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