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By: Roger Salazar

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Tuesday, 3-May-2011 19:56 Email | Share | | Bookmark
Quid Loan Default - Can I Be Sued?

 
When it comes to payday loans in most States these Quid Loan Companies can accept an APR of 36%. While some lenders may offer extension or may be willing to negotiate a bills due date, most will punish a miss payment by placing a loan in non-payment and even take legal act against the nonpayer. Therefore, the reply is yes, you can be sue and the courts will allow wage garnishments up to 40% of the debtor's paycheck. Many people in this condition turn to payday loan consolidation.
The good news is payday lenders are not able attach the primary residence, retirement income or any child support income. Money can only be recovered by the payday lender against the home of the defaulter only if he/she sells the house. When a client defaults on these loans it is a civil offence and there are no criminal actions against the defaulter.

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