Effects of not trying to repay an online payday loan By definition, there was small appropriate recourse a payday loan provider may take in recovering repayments from a quick payday loan. These loans are, by meaning, unsecured. That said, you can find negative effects you ought to know of: Credit – Many lenders that are payday now reporting the status of pay day loans to credit reporting agencies. For many clients, this is certainly viewed as a large advantage if…