What happens with unpaid unsecured loan?
Because your loan is unsecured, meaning there was no collateral or asset you had to give up in order to get your loan, then it all depends. It depends on whether the amount of money you owe is worth taking you to court and suing you. It also means that your credit history will take a "hit", severely damaging your chances for any future loans.
See if this helps.
http://funadvice.com/r/151pjap73uk
Thanks
