Jail for not paying a pay day loan and closing account?

Asked over 4 years ago - Sarasota, FL

I have a loan with Western Sky Financial. I am supposed to pay $150.00 every month directly from my checking account. Will I go to jail if I close my account? so they cant take the money? and what will happen if they try to take out the money and the account is closed?

Attorney answers (4)

  1. Mark Hankins

    Contributor Level 17

    Answered . True debtors prison (capias ad satisfaciendum) may be gone, but people in debt DO go to jail if they get judgments against them and then fail to respond to post-judgment discovery (where they ask questions about what you own, owe and your employment to try to see if there's any asset or stream of wages they can get their hands on (BTW, Florida's exemptions being quite generous, there are a lot of situations where there isn't anything they can get--but if you don't answer, you'll still be in trouble). Payday lenders can't usually sell to the sue-happy Junk Debt Buyers, so they wind up using (and/or selling to) collectors who use extreme harassment in an attempt to get payment. Don't think for a moment they won't call you, your relatives and your job until the phone lines disintegrate from overuse.

  2. Andrew Daniel Myers

    Contributor Level 20

    Answered . No. They closed the debtor's prisons years ago. However, expect Western Sky to come to you in a collection and to contact you regarding the change. This is the sort of debt that can be discharged if you otherwise qualify for a chapter 7 bankruptcy.

    Bankruptcy requires review of your entire financial situation including all debts, income and assets. I highly recommend that you retain an experienced bankruptcy attorney in your jurisdiction to guide you through the complexities of bankruptcy law and procedure.

    I truly wish you the best.

    If you find my answer helpful, please click the ‘thumbs-up’ tab below. Thank you.

    This answer is offered for informational purposes only. It is not offered as, and does not constitute, legal advice. Laws vary widely from state to state. You should rely only on the advice given to you during a personal consultation by a local attorney who is thoroughly familiar with state laws and the area of practice in which your concern lies.

  3. Andrew Daniel Myers

    Contributor Level 20

    Answered . No. They closed the debtor's prisons years ago. However, expect Western Sky to come to you in a collection and to contact you regarding the change. This is the sort of debt that can be discharged if you otherwise qualify for a chapter 7 bankruptcy.

    Bankruptcy requires review of your entire financial situation including all debts, income and assets. I highly recommend that you retain an experienced bankruptcy attorney in your jurisdiction to guide you through the complexities of bankruptcy law and procedure.

    I truly wish you the best.

    If you find my answer helpful, please click the ‘thumbs-up’ tab below. Thank you.

    This answer is offered for informational purposes only. It is not offered as, and does not constitute, legal advice. Laws vary widely from state to state. You should rely only on the advice given to you during a personal consultation by a local attorney who is thoroughly familiar with state laws and the area of practice in which your concern lies.

  4. Kevin Michael Cortright

    Contributor Level 14

    Answered . If you have gotten to the point where you have payday loans, and can not pay them you most likely need to consider bankruptcy, take the time to go have a free consultation with a local bankruptcy lawyer, they can most likely eliminate allot of your financial concerns. And do not worry about going to jail, there is no debtors prison in the US. They would have to take you to court and obtain a civil judgment to try and collect the money from you.

    Legal Information is Not Legal Advice
    My answer provides information about the law based on the limited information provided in the questions asked and is not intended to be legal advice. The law differs in each jurisdiction and may be interpreted or applied differently depending on the location or situation. I highly recommend that you consult with an attorney to discuss the specific details of your situation so you can get legal advice tailored to your specific circumstances. The information in my answer is for educational and information purposes only, and is not legal advice or legal opinions. The answer provided to the question asked does not constitute a lawyer-client relationship.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

23,402 answers this week

2,930 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

23,402 answers this week

2,930 attorneys answering