In your experience what happens when you default on an instant loan? Let's say something like #60k (plus interest) is owed, how long can I ignore the loan? (It's due in about 3 weeks).

Also, what are the practical consequences of ignoring a small loan?
More details; it's two separate loans, one is for #36k (plus interest) and the other is for #23k (plus interest). But the second is due in about a week. I *think* I can repay but I'm just wondering what the consequences of not paying could be.

Message all your contacts to let them know you are owing cuz the kind defamatory messages they will receive all your behalf ehn!!!

depends who u owe

S1mpl3Guy:
Also, what are the practical consequences of ignoring a small loan?
More details; it's two separate loans, one is for #36k (plus interest) and the other is for #23k (plus interest). But the second is due in about a week. I *think* I can repay but I'm just wondering what the consequences of not paying could be.

So you have the money to repay but you intentionally want to default so you will see what will happen

Kobicove:


So you have the money to repay but you intentionally want to default so you will see what will happen

Yeah. It's a small amount, is someone really going to come after me over #23k? Or #36k? I know they'll keep adding interest and blacklist me, but what else will they do I wonder.

I got an automated call this morning over the #23k one "blah blah blah pay your loan in 7 days".
Will update the thread as things progress.
If nothing happens then it was literally free money .

I'm reading some articles on the matter. It seems an unpaid loan will only be sent to a collection agency after six months. At the current interest rate I would owe about #46k on the first loan if I hold this for six months, and #72k on the second loan.
The lender also has the option to sue me in court (lol) before sending the contract to a collection agency.