by denniss » Wed Jan 21, 2009 09:02:36 AM
Why didn't you make arrangements and paid your loan back? The payday loan company can potentially take you to Small Claims Court sue you, get a judgement, get a court garnishee order and garnishee your wages. Even if they do not go through Small Claims court, they will forward your file to a collection agency. The collection agency will report your debt to credit bureaus and you credit will be ruined. Collection agency can also sue you on behalf of the payday loan company. Does it worth ruining your credit for a couple of hundred dollars?