Where does the interest go if you pay off a loan early?

If interest rates go up due to Pres and you have no collateral loan from credit card and you cannot pay what h?

• what happens in so far as - is your property at risk? - loose credit forever? taken to court ? -hounded ? what happens?

• Answer:

  I'm sorry, but your question is very confusing. Interest rates have nothing to do with any default you have made. Depending on your state laws, if you have defaulted on credit card debt, you can certainly be sued, made to pay fines & pay back what is owed, and yes, this can come directly from your paychecks. Courts can rule in their favor & a certain percentage (after taxes, of course) can be withheld every pay period until the debt is paid in full. I hope this has answered your question.