Under the Fair Debt Collections Practices Act, these types of threats from creditors are not allowed. As a debtor, you have certain rights, such as being notified that a debt is due, but not in a harassing or threatening manner. The company can indeed seek a civil judgment against you for the unpaid debts, but there is no debtor prison to where they can seek jail time due to a failure to pay.
Not paying back a loan is typically only a crime if your fraudulently obtained the loan. (i.e. lied on the application) It is usually a civil matter. You can contact the New York Department of Consumer Affairs and file a complaint against the debt collector.
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It is not a crime to miss a payment. Paying back a loan is a civil obligation and the most they can do is sue you in court (presuming you obtained the loan legally and there never was any intention of disappearing with the money). if they threatened you with jail they violated both federal and state laws and you can actually sue them. Good luck.
It is unlikely you will be jailed right now. It sounds like a civil matter you cannot be arrested unless they can prove fraud. You would be well served to contact an attorney as soon as possible.
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