The solution is yes, you may be taken up to court for perhaps maybe maybe not repaying that loan where in actuality the loan provider shall ask the courts to force one to repay the loan. The effect of perhaps not spending a pay day loan will be damaging to your credit rating also it you could end up a CCJ being released.
Despite pay day loans having a track record of being a fast 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 controlled because of the Financial Conduct Authority while having to endure a procedure that is regulated recollect the debt. Read more