Is it a criminal offence by not paying your loan back?

bsure32

No its a civil matter. It will affect your credit and credit is very important. They might take you to civil court to garnish your wages or put a lien on any property you have, but it is not a criminal offense.

nina_lovemachine

No it's a civil offence. You can still be taken to court for it and made to pay alot more than you actually borrowed or the Bailiffs will turn up. But you can't be put in prison for it.

delta9

It's a civil matter not criminal

azeera_2000

if you obtained the loan with the intention that you won't pay it back, yes, then it's fraud...otherwise, if you are unable to pay it back, and took efforts showing that you tried, then probably not

ftmshk

No, it's a civil offence.
However if the person you owe money to takes you to court and gets a court order forcing you to repay the debt, you are then commiting a criminal offence if you don't.
I think.

stdaveuk

No...but the lender will come after you with a sharp pointy stick and wave it at you, whilst they take all of your possesions...and then chuck you out on the streets !

PEP

It is not a criminal offence.. it is a civil matter, as by not paying your loan back, you are breaking a contract and the company can take you to the civil courts to get the money back.

ragill_s1849

The correct answer, mentioned above, is that predominantly it comes under civil law and the loan company has to take you to court themselves if you do not, or cannt pay them back. However, if you took out the loan with the intention of taking the money and not paying the loan company back, then it comes under criminal law (i.e. The Theft Act).

joannie

P and D

It is a civil matter. When you take on a loan you agree to pay the amount back over a set period of time at a set amount. If you do not do this then they can black list you. Be very careful. If you are experiencing difficulties then speak to them, they may be able to help you by re-calculating the payment plan to make the payments more affordable for you to pay back.
Good luck.

sweatyhelmet

yes , its called evasion of liability, the power is hardley used. did you intend to forgo a payment or did you fall on hard times

skyeblue

No.

vet/tech/turned/nurse

probably?...there are a pain in the *** to pay thou ..arent they..lol

Mr. PhD

Not unless they can prove fraud. Simply not paying it back is a civil offense. We no longer have debtors prisons

Jim D

You borrowed the money, you agreed to pay. Don't be a deadbeat and pay it back.

COULD be criminal if they determine that at the time you took the loan, your intention was to never pay it back. Then it becomes a fraud.

Carey

I know that if you went to school and got a license (Nurse, etc..) they'll take it away, they can also garnish your wages and bring you to court.

I would contact them if your having a hard time paying them back and see if they'll work out a deal with you. If your just planning to stiff them, I would just pay them back instead of paying court fees on top of your tuition and having a felony on your record.

Once you signed the deal and take their money there's no going back.

Sorry.

sarge927

No, actually, failing to pay a loan is a civil offense. A loan is a contract between you and the lender, and if you don't pay the lender can take you to court and have a judgment issued against you, but you can't go to jail for not paying a loan -- they'll just garnish your wages or put liens against your property or take it out of your Federal/state tax returns. Failure to pay a traffic citation, however, IS a criminal offense. You can go to jail for not paying a traffic ticket.

Morbeous

No , with capital N .

Not paying your loan, is only not abiding by the terms of the contract, and is not a crime.

BUT..

If you are taken to court and the court orders you to pay, and you don't, then it becomes punishable by law .

ty_rosewood

If its from a bank or similar company then yes. You can be arrested.

If you've given someone a personal loan, you don't have a leg to stand on unless its fully contracted etc.

Steveh

It not Criminal but a civil matter but if the Police decide otherwise you can be charged with "Obtaining Goods by Deception" "Fraud" "Theft" well almost anything they like

grdnoviz

NO, but the lender can sue you and get money from your bank account or force the sale of your house or garnish your wages. They can't send you to jail for not paying it back.

briangimma

no civil court not criminal

Grizz

Yes...its called theft.

Political G

Depends on the loan. And how much longer the Republican's control the government.

MissBehave

I would say yes. I think it would fall under fraud and breach of contract. You took the loan out signing an agreement to pay the money back. You now have no intention of paying it back. If you knew at the time you couldnt pay it back then it is fraud. If you now just decide you cannot afford it then it is breach of contract. Technically it is theft too.

Juanita

Yes.

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