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Category: Legal
Satisfied Customers: 56914
Experience:  Licensed attorney helping individuals and businesses
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I Currently reside in the state of colorado where i am currently

Customer Question

I Currently reside in the state of colorado where i am currently behind on 10 payday loans i have decided to default on all 10 can you tell me what action will be taken against me soon and what can i do.
Submitted: 6 years ago.
Category: Legal
Expert:  INFOLAWYER replied 6 years ago.


Hello, So sorry to hear of this dilemma. If my answer is not clear to you, please ask me for clarification.


If you default on the loan, the creditors can file civil legal action which can lead either to a judgment or a settlement. If a judgment, creditors can place lien on real estate and pursue bank accounts.


I hope that is fast and clear.