Can you?

Question

Can you go to Jail for not paying your credit card or loan payments on time and or behind in Minnesota?
I just have store credit cards and one personal loan that I'm behind on.

Answer

You’ll lose all your credit before, they can take what’s in your name.. and depending on how long yes they can put charges on you and end up in jail but that’s the last resort.
Don’t put money you don’t have on credit cards. Be smart.

Answer

Stop using credit cards if you cant pay them. 🙄

Answer

No. LoL you won’t go to jail. But call the companies and work out a payment arrangement so it doesn’t hurt your credit as much. If you don’t, What will happen is first the banks will put you into internal collections within the bank, they report your late payments to the credit bureau if they’re more than 30 days late. If it gets to the point where you’re several months late (usually 6) they will charge off your account, which means they sell it to a collection agency. The collection agency will attempt to collect the debt in full. Most of these companies will settle with you. The bank may even settle with you, meaning you pay a lesser amount than the total you owe. Sometimes as much as 50% less. Depending on how much you owe and your situation, bankruptcy might be an option to consider.

Answer

They can take you to court and put a judgement against you. They can repossess your car. As for a home loan try a modification or deed in lieu and get out from under it. Try contacting them and work out a payment plan. Irs and child support can have you in jail eventually. Things have changed. Back on the day things would just stay on your credit 7 years and disappear and nothing was really done. Now things are different. They take you to court. You could try debt consolidation company a non profit is best. Or bankruptcy is another option. Hope things get better

Answer

Depends on the state you live in roughly 1/3rd of states use jail time as a way to coerce people into paying.

Answer

Why you using up money you don’t have? Store credit cards?

Can you?

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