Payday Loans

[mflores]

What is the name of your state (only U.S. law)? Texas

What happens if you don't pay back a payday loan. Wrote a check and check bounce.
Its $1000. Please answer.

[nrknlknek]

Just like any other unpaid debt, the creditor (in your case, the pay day loan company) can file a lawsuit and obtain a judgment against you for the balance of the load plus interest and costs. In addition, "bouncing" a check is actually a criminal offense. So, my advice is to get this taken care of as quicly as you can.

[Antigone*of*Greece]

Originally Posted by mflores

What is the name of your state (only U.S. law)? Texas

What happens if you don't pay back a payday loan. Wrote a check and check bounce.
Its $1000. Please answer.

Be ready to face a hefty amount of fees and penalties. The pay-day loan company will attempt to debit your account over and over.

My suggestion to you is to first contact them and attempt to negotiate a re-payment plan that is favorable. Otherwise you will most likely be staring a lawsuit in short measure. My second piece of adivce to you is to stay away from pay-day loans.