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Are personal loans cash

The lenders typically win because consumers dont show up to court. Nearly all lawsuits against consumers today are for relatively small amounts, says Michael Bovee, president of Consumer Recovery Network, a debt are personal loans cash company. The lenders typically win because consumers dont show up to court.

The judge then enters a summary judgment, and the court can begin to collect the money you owe on behalf of the collections agency. Depending on your state law, you are exposed to property liens, bank account levies and wage garnishment, Bovee says. You should never ignore a lawsuit, says Lauren Saunders, associate director of the National Consumer Law Center.

Are personal loans cash

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Are personal loans cash