CharmedSun
Thu Nov 28 2024
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6 answers
1462
What happens if you dont pay back a peer to peer loan?
I took out a peer to peer loan but I'm struggling to make the repayments. What are the consequences if I don't pay it back? Will there be legal action or penalties?
Eleonora
Sun Oct 06 2024
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6 answers
1282
Is it a crime to borrow money and not pay it back?
I'm curious to know, is it considered a criminal offense if someone borrows money and fails to repay it? I've heard conflicting opinions on this matter and I'm seeking clarification. Could you please elaborate on the legal implications of defaulting on a loan, taking into account factors like the intention of the borrower, the terms of the agreement, and any potential consequences that may arise? I'm particularly interested in understanding how the legal system handles such cases and what remedies are available to creditors who have been left unpaid.
