Ringing Ceders

What happens if you don’t have the money to repay your Payday Loans before the due date? First, the lender will roll over the loan and charge you extra interest. They will notify you that they will attempt to collect the money on your next pay period. If you are not able to pay them back then, your account will be sent to their collection department and you will be reported as delinquent to the credit bureaus. There is a myth going around that you can be arrested and sent to jail – that’s not true. The most they can do it ruin your credit.