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By: Bryce Smith

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Thursday, 3-Feb-2011 19:02 Email | Share | | Bookmark
What Will Happen If You Can't Pay Your Quid Loan Back?

 
It's ordinary to have debts as long as you know how to pay it. There are times wherein you forget to pay your cell phone bill or any other bills and you're responsible for it. But what if you find yourself in the situation of not paying your cash loan back? What will happen now? Quid Loan can help in your trouble.
Additional Interest Charge
Perceptibly, if you can't come up with the deadlines of repay your loans, the interest will charge additional amounts until you pay lastly pay it. In some instances, late fees may result into punitive charges that might be more than the specific amount you borrowed. As the interest increases, your debt increases too.
Legal Aspect
Let's say for case you choose to apply for a payday loan in US. But then, after you get the cash you see that the deadline is fast imminent. Regrettably, you haven't salaried for it. There's only a single scenario that might happen. Generally, the lender will possibly file a report to credit bureaus' stating that you're default from applying loans.
The report will go on to your credit report and stay in it until the loan gets paid. In some instances, cash advance loan is secured with a post date check. The lender will possibly submit it to the bank so you can't apply for another loan. The lender might also matter a suit in general court and you might be under arrest for it.

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