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The results of loan defaults. What goes on if we delay my loan payment?

The results of loan defaults. What goes on if we delay my loan payment?

The borrower needs to carefully read the terms and conditions and pay special attention to the loan repayment period, interest rate, fees, penalties and other key conditions in the loan agreement. The borrower bears financial and legal responsibility provided for by the loan agreement and current legislation in the event of non-repayment of loan funds, as well as fees for servicing the loan after the expiration of the period. Violation by the borrower associated with conditions specified within the loan agreement might have effects when it comes to bank to transfer information regarding your debt towards the credit bureau.

The rise within the level of financial obligation as a result of accrual of fines and charges.