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Payday Loan Blog - If You Leave the Country, Can You be Sued for an Unpaid Payday Loan?

 Friday, 01 February 2008

People get payday loans because they need a quick fix to help their income. It is possible that while you have a payday loan that your company may ask you to move for a new job. People even move out of the country for their job. So what happens if you leave the country and you still have an unpaid payday loan? Is it possible that you could get sued for this?

Could You Be Sued?

Payday loans are considered unsecured. This means that you do not have to back the loan with any of your assets. This does not mean that you will be able to get away with not paying them back. Does it surprise anyone that people would try and get away with not paying these loans back? Some people just assume that if they leave the country then they will not be followed and therefore they do not have to pay anything back. This is a mistake in thinking. It is possible that a company will not want to follow the customer and just let them leave. More likely, however, the payday loan company will hire some sort of collection agency. This agency will do everything possible to track you down and get the money back. Their action varies depending on the action allowed by that particular country. There may be cases where they are able to take legal action against you, but other cases may unfold in such a way that the collection agency cannot take any legal action against you at all.

What are My Options if I Leave the Country?

No matter if you stay in the country or leave the country it is still your responsibility to pay the loan back. It is what you agreed to when you took out the money. If you do not pay then know that your lender will find a way to get a hold of you in order to get their money back. That is why it is in your best interest to make sure you repay the loan before you need to go to your new country. If anything will prohibit you from doing so then you must contact your lender and let them know the situation. That way it becomes possible for the two of you to come up with some sort of plan for paying back. It will not be hard to get in touch with your lender, especially if you want to talk repayment. You need to make sure you avoid any hassle that can come your way and pay back on time. It is very possible that you could get sued if you do not pay your payday loan back. No one ever wants this result.

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Friday, 01 February 2008 15:17:12 (US Mountain Standard Time, UTC-07:00)  #     

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