The clear answer is yes, you may be taken up to court for maybe perhaps perhaps not repaying that loan in which the lender shall ask the courts to force you to definitely repay the mortgage. The effect of maybe perhaps maybe not spending a cash advance will be damaging to your credit rating plus it could cause a CCJ being granted.
Despite pay day loans having a track record of being an instant and simple solution, you can find yourself getting letters and phone calls from the lender and debt collectors if you fail to repay your payday loan.
Payday loan providers are managed because of the Financial Conduct Authority and now have to endure a procedure that is regulated recollect the debt. Continue reading