What can a payday loan company do to you for not paying them?

I have one from ace in texas, and they said that if i didnt pay at least 500 tomorrow they will close the case and stated that i got the loan with no intent to pay back what are the things the can do, What should i do? I dont have that kind of money to pay by tomorrow, what is the worse thing that could happen i guess i am worried. Help.

What can a payday loan company do to you for not paying them?
These companies are a pain in the azz! Once you borrow from them one time you pretty much have to keep the cycle going. Anyway, you probably already discovered that. As for your question, the worst that can happen at this point is that they can turn over your account to a collection agency which will then tack interest on what you owe, so instead of 500 you would owe 500 plus interest at whatever rate the collection agency wishes to charge.





To avoid it going to a collection agency, you could pay them just 10 dollars a month. Yes, they will threaten you that it needs to be paid in full, but legally, if you pay them any amount of money they have to accept it and apply it to your account. As long as you make some type of attempt to pay off the debt they cannot legally send it to a collection agency. If however, you pay nothing this month they can legally send it to the collection agency and then you will set up a monthly payment plan with them. If you never pay this debt, the collection agency can turn it over to their legal department and they can put what's called a judgment on your case and you may have to appear in court. If that happens, you will have to pay back the amount on the account, the interest, and any and all legal fees that the company incurs and that you incur.





Your safest choice would be to call the company and ask where you can send a check or money order and then make it for whatever amount you can possibly pay at this time.
Reply:they can make you a slave or put you in prison
Reply:The worst is that they turn your case over to a collection agency.





The agency pressures you big time, and destroys your credit rating. If they are really aggressive, they might sue and get a judgement for the amount you owe, and then garnish your wages.
Reply:Because you are in Texas, you don't have to worry about garnishment. They will turn it over to a collection agency and it will show up on your credit report.





I would call the company up and ask if they could refinance the loan. This would allow you to get the loan current for a small interest charge. This way your credit isn't wreak over such a small loan. Good Luck