Can I go to jail for not paying a personal loan?

The question many people ask is, Can I go to jail because I failed to pay my own loan? The answer is typically no - the absence of EMIs does not necessarily result in incarceration. Nonetheless, defaulting influences your credit rating and may bring punishment. When payment is not received after a period of over 90 days, the loan is treated as a Non-Performing Asset (NPA), and this seriously affects your CIBIL score. In case of default on payment of dues over months, lenders can serve legal notices or go to civil courts. Before any action is taken, courts usually examine your financial circumstances and causes of default.

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