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Hello and welcome.
My name is XXXXX XXXXX my goal is to provide you with excellent service today. I am sorry to hear of your difficult situation. Before I can give you an accurate answer to your question, please provide the following additional information:
The loan was taken out in CT?
I look forward to assisting you as soon as I have received this information. Thank you.
It was an online payday loan taken out with Quick Payday
I see. Assuming you lived in CT and the agreement you entered into does not state that some other state law applies, the CT statute of limitations would normally apply under these circumstances.Under CT law, the statute of limitations is normally 6 years for a written contract, which is likely the type of contract involved here. Therefore, the lender would normally have 6 years from the date you breached the contract in which to pursue legal action against you.However, they cannot jail you for failing to pay a debt typically. That is a threat some unscrupulous collection agencies make which is not true but meant to intimidate the debtor into paying the balance.Given that the statute of limitations has not lapsed yet though, they could pursue a civil action against you for a judgment, so it is usually best to make arrangements to pay the debt as agreed.
I hope this helps clarify the situation for you. My goal is to provide you with excellent service – if you feel you have received anything less, please reply back as I am happy to address follow-up questions. Kindly rate my service when I have answered your questions so I will be compensated for my time assisting you. Thank you!