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Nisha Jones, Esq.
Nisha Jones, Esq., Lawyer
Category: Criminal Law
Satisfied Customers: 391
Experience:  Managing Attorney at a Law Firm
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If I fail to pay back a payday loan can I face criminal

Customer Question

If I fail to pay back a payday loan can I face criminal charges
Submitted: 2 months ago.
Category: Criminal Law
Expert:  Nisha Jones, Esq. replied 2 months ago.

Good afternoon, I am a Criminal Defense attorney and former Prosecutor for the State Attorney's Office. I'll be answering your questions today, please understand this is for informational purposes only, and we do not currently have an attorney-client relationship. Please allow me just a few minutes to prepare some information for you, thank you!

Expert:  Nisha Jones, Esq. replied 2 months ago.

You won't face any criminal charges for failure to repay a payday loan, but there are some other possible consequences you should know about:

1. your credit score will take a hit

2. the payday loan company will most likely have debt collectors contact you (this includes phone calls at home, and letters in the mail)

3. you'll most likely be responsible for additional late fees, interest, and financial penalties.

I hope that helps! Please let me know if you have any other questions. Also, please take a moment to rate me using the stars as this is the only way experts are compensated for our time here on 'just answer'. Thanks!

Customer: replied 2 months ago.
Even tho they have me write a check for them to hold on to if they try to cash that check and there's no money in my account that wouldn't be considered check fraud?
Expert:  Nisha Jones, Esq. replied 2 months ago.

No, this is not necessarily considered check fraud. I think the assumption would be that the account became overdrafted and that the funds were exhausted. I think if this because a continuous pattern among varying payday type businesses, then you may be facing a potential problem.

Check fraud more so consists of forgery, counterfeiting and other crimes. Here's a link that will provide you some more detailed information:

http://www.ckfraud.org/ckfraud.html

I hope that helps! Please take a moment to rate me using the stars (it's the only way I'm compensated for my time), we can still continue our conversation after. Thanks!