Skip to main content

About us

We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

Learn how the CFPB can help you

What happens if I do not pay back my Personal Line of Credit?

Answer:

Your account may be suspended. The lender may also be able to take the money you owe directly from your checking account or any other account you have at that bank or credit union. This is called “setoff.”

Setoff is not permitted for credit card accounts, but is permitted for personal lines of credit. Read your contract before you sign it so you know what you are agreeing to.

Not paying back your Personal Line of Credit may also negatively impact your credit score and history, which could impact your ability to get credit in the future. You may also be liable for collection costs in some states.

Was this page helpful to you?

Note: Do not include sensitive information like your name, contact information, account number, or social security number in this field.

The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.