what happens if you don’t repay pay day loans? a researched or knowledgeable answer please.?

My aunt lost her job and since i live with her her bills became mine putting me way in debt with my bills.I have two pay day advances out and no way to pay them back they both refuse to wait till my next payday,and i have no one to get the money from.They both said if i didn’t have the money in 3 days they were depositing the checks.I don’t know what to do can i go to jail since they were checks?what’s going to happen to me i can’t pay them till next payday.Should i talk to a lawyer?

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2 Responses to “what happens if you don’t repay pay day loans? a researched or knowledgeable answer please.?”

  1. Ravin said:

    depends on the state.

    check your state law online

    if you have rolled them enough already most states have a “repayment” plan that lets you start it for $15.00 or so and then make like 3-4 installment payments on bi-weekly schedule to get rid of them

    good luck

  2. STEVEN F said:

    First, you can’t go to jail in the US for owing money. If you borrow money knowing you will not be able to pay, that is fraud. You can go to jail for that. I don’t believe that applies in your case.
    Most of what a collector tell you is a lie. If they do deposit the checks, your bank will either pay them and charge you overdraft fees, or bounce them and charge a fee for that. In either case you owe someone for the checks.
    If you can pay next payday, don’t bother with a lawyer, you can settle on your own before they bother carrying out any threats.




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