Following the manhunt, what the results are in the event that you donвЂ™t pay off an online payday loan is the dreaded D-word: Default.
When your loan goes in standard, it will visit a collections agency. You will see more phone telephone telephone calls, letters, and e-mails вЂ” and you may probably get yourself a civil court summons. In a few states, your wages might be garnished if it goes that far.
Your credit rating will even somewhat drop, which can certainly make it even more complicated to get much much longer loans like installment loans.