Icici bank personal loan late payment charges

Jail time. No - but threats are common. Failure to repay a loan is not a criminal offense. In fact, its illegal for a lender to threaten a borrower with arrest or jail. Nonetheless, some payday lenders have succeeded in using bad-check laws to file criminal complaints against borrowers, with judges erroneously rubber-stamping the complaints.

The Consumer Financial Protection Bureau advises anyone threatened with arrest for nonpayment to contact his or her state attorney generals office. You should never ignore a court order to appear in court, even if the criminal complaint was filed mistakenly. A chance to negotiate.

Icici bank personal loan late payment charges

Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice.

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Icici bank personal loan late payment charges

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Icici bank personal loan late payment charges