Bloomfield, MO asked in Collections for Missouri

Q: I have 4 personal loans that I have current but I'm not going to be able to pay 3 of them it's either eat or pay them.

The 1 I'm keeping is secure loan the other 3 are unsecured loans I live in Missouri and on disability benefits What happens if I don't pay the unsecured loans. I don't own a car or real estate nothing except our furniture and personal things and they are already secured by the one secured loan I have

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1 Lawyer Answer
Ronald J. Eisenberg
Ronald J. Eisenberg
  • Collections Lawyer
  • Chesterfield, MO
  • Licensed in Missouri

A: If you don't pay the unsecured loan you'll likely get sued. If the case results in a judgment against you, the judgment either will automatically become a lien on real estate in your county or the plaintiff may "transcribe" an associate division judgment to make it into a lien.

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