Avant likely won't sue you or sell the debt
Some online lenders shy away from suing borrowers for fear of tarnishing their reputation. Instead, they sell charged-off accounts to debt buyers.
Can you go to jail for not paying a personal loan?
While you technically can't be arrested for failing to pay a debt unless it's a court fee or fine, child support, or tax debt, debt collectors can and will try to have you arrested for contempt of court.
What happens if I am not able to pay my personal loan?
When a loan becomes NPA? When dues are not paid for more than 90 days. After this, bank will have to issue you a '60 day notice' under SARFAESI Act. In this notice period, the loan defaulter can payback the dues and close the case.
