Could someone be put to jail for non-payment of a loan?
This is a discussion on Could someone be put to jail for non-payment of a loan? within the Debt Collection forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; Could someone be put to jail for non-payment of a loan?...
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Could someone be put to jail for non-payment of a loan?
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#2 |
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No -- based on how you phrased the question. We have no debtors' prisons in the US anymore. However, one can be jailed for contempt -- i.e. failing to pay child support obligations, for failure to pay criminal restitution, for taxes in some cases, etc. But, in the general case of say a credit card or a bank note or private loan -- the answer is definitely no. Hope that helps some. AJJ
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#3 |
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No. If that were the case, collection agencies would be non-existent, as they should be anyway.
Any original creditor who would sell private information that helps in the continued epidemic of identity theft is not a reputable company. If someone is truly owed a debt, small claims court is the place to try to recover money owed. |
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