Hello – my problem is an unpaid loan. I took out a loan of $ 300, it was two years ago, I didn’t pay a penny, now I have $ 500 to pay. The case goes to court, what threatens in this case for this unpaid loan? Regards.
What is the danger of an unpaid loan in court?
I think you are in danger of more than it’s worth … you should pay back such a microscopic debt right away. Not only are you spoiling your credit history, your name may also be in the register of debtors such as KRD, BIG or ERIF.
Is it worth ruffling a name for a few dollars? I do not think so…
What is the risk of loan defaults?
Not only that, your debt has increased from $ 300 to $ 500 (for example, prompts from a loan company, penalty interest, debt collection fees), and there will be court and bailiff costs coming any day. You really did a good deal …
Although it is only a debt of several hundred dollars, no one forgives you. I don’t know if you work or not, but if so, the bailiff will take part of your payment and the money will go to settle your debts.
I am appealing to your awareness now so that you don’t make fun of your name and pay off this few dollars – you will save a lot! believe me …
What awaits you
- A case in court.
- You will then receive a payment order.
- If you do not pay the debt within 2 weeks, the payment order will become final.
- As the judgment becomes final, the creditor will obtain a document enabling him to start bailiff enforcement against you.
- The bailiff will start looking for your assets and will try to take care of your salary, bank account and other assets.
- To the main amount of your debt will be added court costs and bailiffs – so your debt can double very quickly.
As you can see, a seemingly innocent unpaid loan can very quickly turn into a large debt, which will grow from month to month, causing more and more problems in your life and unnecessary stress.
That is why I urge you to deal with your debts as soon as possible. At this point, I would like to recommend you the e-book of Mrs. Alona Mendel. The e-book is called: How to get out of debt 12 steps to freedom and is a must read for anyone who has debt problems and does not know how to get out of them. If you manage, get some interesting bonuses and a 50% promotion.