Loan Default – What happens If I am unable to pay Loan on time?

Loan Default – What happens If I am unable to pay Loan on time?

Finances News

Loan Default – Recently I got one email from one reader saying his financial condition is not good he is unable to pay the loan on time. What happens in the case of loan default? Well, as per rule when you take a loan, you have to repay the loan on time via EMI. However, due to financial crises such as job loss, accident or due to other reasons if you are unable to make the loan payment on time your loan can go to default. Loan default generally happens in two conditions either person is not willing to make

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