The solution is yes, you may be taken fully to court for not repaying financing where in actuality the loan provider shall ask the courts to make one to repay the loan. The effect of perhaps not spending a cash advance will be damaging to your credit rating and it also could cause a CCJ being given.
Despite pay day loans having a reputation for 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 managed because of the Financial Conduct Authority and also have to endure a procedure that is regulated recollect the debt. What this means is they could just contact you peak times per time and each week to recuperate their funds вЂ“ however they cannot just take one to court. Read more