What is the worst thing that can happen to me on an unpaid debt?
There are laws that make it a crime to intentionally provide false information to a lender when obtaining a bank loan. Assuming you don’t have any concerns about criminal fraud or other intentionally wrongful acts, the worst case scenario is usually that the lender or a collection agency can foreclose on collateral, if any, and sue you (and any guarantor) to recover amounts owed on the debt. This may force you into bankruptcy, where you may be able to discharge the debt. Return to index . . .
