Can a person go to jail for not paying back a car loan?
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If you are ordered by a court, such as in a bankruptcy case, to return the vehicle to the lender, or to produce financial records, and you refuse, you could be jailed for contempt of court!
Collection agencies will try to tell you all sorts of false stuff, to try to scare you into making payments.
Can a person go to jail for not paying back a car loan?no, they'll just hunt you down, take back the car and take a giant dump on your credit report.
Can a person go to jail for not paying back a car loan?Of course they can..it's called "Debtors Prision"
it's in Oklahoma. If you are a least 2 Month's late you can get 20 years
Can a person go to jail for not paying back a car loan?I have to believe the people who are saying there is a chance of going to prision are joking with you.
Only if you have obtained the car under fraudulent circumstances, such as using someone elses name, could you go to jail and that isn't for not paying for the car, that is for committing fraud.
Debtor's prisions were outlawed at least 50 years ago.
However, if you have the car and can't pay for it, return it to the finance company. You can't drive if for free
Can a person go to jail for not paying back a car loan?they'll repossess your car and shoot you in the kneecaps
and your credit rating will be shot
Can a person go to jail for not paying back a car loan?Depends where you live, but from what I've read on the Fool.com / Fool.co.uk "get out of debt" section, not in the USA or United Kingdom.
US "Get out of Debt" section:
http://www.fool.com/ccc/debt/debt.htm
UK "Get out of Debt" section:
http://www.fool.co.uk/debt/articles/whyh...
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