This link is provided for your convenience only and shall not be considered or construed as an endorsement or verification of such linked website or its contents by CIMB Bank.
CIMB Bank makes no warranties as to the status of this link or information contained in the website you are about to access.
In fact, its illegal for a lender to threaten a borrower with arrest or jail. Nonetheless, some payday lenders have succeeded in using bad-check laws to file criminal complaints against borrowers, with judges erroneously rubber-stamping the complaints. The Consumer Financial Protection Bureau advises anyone threatened with arrest for nonpayment to contact his or her state attorney generals office.
You should never ignore a court order to appear in court, even if the criminal complaint was filed mistakenly. A chance to negotiate. A lender would rather collect money directly from you than sell your debt to an outside collections agency. Third-party debt collectors may pay just a few pennies on the dollar to buy your debt. If you can, start by offering 50 of what you owe to settle the debt.
Lower Death Benefit. If you dont pay back your loan before you die, the insurance company subtracts what you owe from the amount it pays out on your death. If your family is counting on that insurance money, losing the value of the loan could put them in a tight spot.
But if youre only borrowing a few hundred dollars, its not that huge a loss to your family. Risk of Losing the Policy. The biggest risk is that, if you dont pay back the loan promptly, the interest keeps accumulating.
In time, it could eventually add up to more than the value of your policy.
Everyone is so helpful. I'm a teacher and I can't afford to be scammed. Never has happened with this company. Great place to find loans. They are by far the best payday lender out there. Their customer service is always top notch and they truly care about their customers situations and well-being. I am proud to say I am a Check City customer and I would not have made it through some pretty tough situations without them.