If I recently lost my job and can’t repay my payday loans but I’ve been paying small amounts towards them, can they still hold me in default and sue me?

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If I recently lost my job and can’t repay my payday loans but I’ve been paying small amounts towards them, can they still hold me in default and sue me?

Asked on December 14, 2012 under Bankruptcy Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you have not paid all amounts due when they are due, you may be sued. A debtor is not entitled to determine how much he or she will pay, when; rather, the debtor must repay according to the terms of the loan agreement. Making small payments will reduce what you owe, and help you in that way, but they do not prevent a lawsuit or other action based on your default.


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