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  1. #1
    Join Date
    Aug 2005
    Location
    Washington
    Posts
    10

    Question Short Term Bank Loan Default

    My question involves collection proceedings in the State of: WA

    This is NOT a real case, this is (Hypothetical at this time)


    1. Fighting UI for benefits (No bearing on loan) refused and am appealing decision.

    2. Take $400 loan from Bank (Via checking advance, repaid on next deposit to checking) No guarantee of repayment.

    3. Lose appeal and thus, bank loan is not repaid.

    4. Personally believed would win, not trying to steal.

    What is possible result? (I realize that theft charges or intentional or intent to defraud could come into play)

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Short Term Bank Loan Default

    It does not matter what your intent or best intentions were. You owe the bank and could be prosecuted, will certainly be charged extra fees and will be put into the financial institution database, so no other lending institution will allow you to have an account again.

  3. #3
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Short Term Bank Loan Default

    Quote Quoting Genenco
    View Post


    What is possible result? (I realize that theft charges or intentional or intent to defraud could come into play)
    Doesn't make much sense to ask strangers what the possibilities are when it's clear that you already know what the possibilities are.

  4. #4
    Join Date
    Sep 2012
    Posts
    1,991

    Default Re: Short Term Bank Loan Default

    trying to make that into charges would be a huge stretch unless you falsified something to make them think you had steady income.

    you still owe the money and will likely run up fees, penalties and interest on the loan, those places are worse than loan sharks (except they won't break your legs)

  5. #5
    Join Date
    Aug 2005
    Location
    Washington
    Posts
    10

    Default Re: Short Term Bank Loan Default

    Thanks for the reply. $10 per $100...Better then those payday loans people....

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