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Anonymous
Anonymous asked in Business & FinanceCredit · 2 months ago

Can you be taken to court in the UK if you don't pay a payday loan😳😳😳?

4 Answers

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  • 2 months ago
    Favourite answer

    Technically yes but only if you ignore it. A lot of people who get payday loans can't really afford it, they end up getting more loans because paying back the first loan means their next wage doesn't cover the whole month. Eventually it snowballs until the debtor either gets their family to help or simply closes their bank account and tells the lender they can't pay it back. The lender accepts a lower payment over a longer time, sends a bad notification to their credit file but doesn't take any other action - because they knew it would eventually happen and any judge would take a dim view to them. They don't care if this happens as it nearly always does, they expect debtors to get snowed under, they are OK with contract breaches as long as they are getting it in the end. How sad the scam is, it is a scam because they appear to help at first and then it quickly snowballs into a vicious circle of borrowing, repaying but then immediately borrowing again, or renewing the loans over and over until the debtor realises they have to do something drastic to stop the cycle and, although they won't usually go to court they will suffer poor credit scores for years.

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  • 2 months ago

    A question for Martin Lewis this one.

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  • Anonymous
    2 months ago

    No you cant, it's all lies!!!

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  • Anonymous
    2 months ago

    Yes, I have taken 14 to court and got their paychecks garnished.

    I guess some don't grasp sarcasm.

    I hate this Batman Superman troll because he hates americans. And he already asked the question hours ago.

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