What will happen to me legally if I cant afford to continue to pay on my online payday loans

Asked over 1 year ago - Jacksonville, FL

I live in fla and I had 5 online payday loans. I have paid off 2 of the loans ,but I had to go back and re-loan from 1 of the lenders that I had paid off. now I have 4 active online payday loan. Im really trying to get them paid off but,it is a struggle. I would just like some legal advice on what to do or what would happen it I stop paying.

Attorney answers (2)

  1. Aaron James Irving

    Pro

    Contributor Level 14

    2

    Lawyers agree

    Answered . Failure to pay on the loan will result in a report against your credit, collections, and possible a suit in a court of law against you. If you are struggling, then I advise contacting the loan companies to see what they recommend. Oftentimes they may lower the payments, but extend the terms of the loan, or provide a payoff amount. It's worth a shot.

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    Note: The information presented at this site should not be construed to be formal legal advice nor the formation... more
  2. Michael Charles Doland

    Contributor Level 20

    2

    Lawyers agree

    Answered . You will be subject to a civil lawsuit. There will be no criminal issues based on the facts you have posted.

    The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may... more

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