Can a payday loan company take you to court, press charges, and sue you if you don't pay the loan back?

I have a loan company calling me threatning to press charges and sue for a $500.00 loan i did not pay back. They are claiming these are federal charges. I keep having people tell me they are just trying to scare me into paying. I'm not sure what to think about it.

Update:

so even if they can sue and press charges, will they actually do it? because alot of people around me and at my job say they have been through the same thing and the companies were just trying to get them to pay. I tried to tell them i could make payments but they wanted the full amount yesterday, and i just dont have it.

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  • Annis
    Lv 5
    4 years ago

    RE:

    Can a payday loan company take you to court, press charges, and sue you if you don't pay the loan back?

    I have a loan company calling me threatning to press charges and sue for a $500.00 loan i did not pay back. They are claiming these are federal charges. I keep having people tell me they are just trying to scare me into paying. I'm not sure what to think about it.

    Update: so even if they can sue and press charges, will they actually do it? because alot of people around me and at my job say they have been through the same thing and the companies were just trying to get them to pay. I tried to tell them i could make payments but they wanted the full amount yesterday, and i just dont have it.

    ---

    I pasted a website that might be helpful to you

  • 3 years ago

    1

    Source(s): Payday Loan Pay Back Help at KNOWYOURCREDITOPTIONS.COM .
  • Anonymous
    5 years ago

    Almost sure that you must find every financial solution at: loanhome.info-

    RE Can a payday loan company take you to court, press charges, and sue you if you don't pay the loan back?

    I have a loan company calling me threatning to press charges and sue for a $500.00 loan i did not pay back. They are claiming these are federal charges. I keep having people tell me ...show more

  • Anonymous
    5 years ago

    Almost sure that you must find every financial solution at: loaninstantsolutions.us-

    RE Can a payday loan company take you to court, press charges, and sue you if you don't pay the loan back?

    I have a loan company calling me threatning to press charges and sue for a $500.00 loan i did not pay back. They are claiming these are federal charges. I keep having people tell me ...show more

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  • 4 years ago

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  • 4 years ago

    For the best answers, search on this site https://shorturl.im/TzOAU

    Collectors will say just about anything to scare people into paying up. You did not commit a crime, so you cannot be prosecuted. You can be sued. If you have no attachable assets, they can get a judgment against you, but will not be able to collect. In the county where you live, call the local bar association and find out what you can do to curb the harassment. You may have to pay a lawyer to write a letter, telling the bill collectors to cease.

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    5 years ago

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  • 3 years ago

    Did you ever get a response for this? My problem is that they put on so much interest and charges that I can't pay a $300 loan anymore.

  • wizjp
    Lv 7
    1 decade ago

    Uh...as to if they are federal, probably not; depending on ifyoou wrote a bad check that covers the loan; that's sometimes how that scam worked. Everything else there is accurate. Plan on paying legal fees, costs and interest if they sue; probably closer to $750

  • sasao
    Lv 4
    3 years ago

    Bottom Dollar Payday

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