l have been paying on a small personal loan for over a year now at thirty six percent interest and have just recently fell behind due to a major slow down in work in the area with my job. l had collateral on the loan of small things totaling up to around 2500.00. most of these small things are broken now and worth nothing, they have shared my personal info with my family and l have turned them in to the consumer protection agency as told to do by the B.B.Bnow my question is what can be done to me for being behind??? l cant pay them right now...i have a family to feed and care for before sending them all of my money...i know im obligated to pay back but cant at this time and for the first time since recieving the loan....what is the worst that can happen??please be nice im really scared about this

l have done it before and al that happened is they sent my info to the credit agencies of course, so my credit score went down and then they gave it to a collection agency...but honestly just send $5-$10 a month and at least it shows you are trying.good luck.

Really the only thing that can happen is that they harress you alot, file a claim against your credit report. Then they will hire a collection agency, who will reduce your payment, then if you still dont pay they will charge off the account and it will severly impact your credit report. Really thats the worse thing that can happen.you wont be able to borrow money because of a crappy credit report.

worst thing is that you will come out of this with a very bad credit score and it will be hard to borrow money!!! so maybe this is the time to become cash and carry!!!

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These customers can later apply for loans up to $1,500. Loans of greater amounts can be fetched through secured personal loans. These loans r passed by taking ur property or home as collateral The interest rates on secured loans r lower than unsecured loans. However, there is always the risk of losing ur house or property if the loan is not repaid.