What will happen if you do not pay a loan?

The consequences of non-payment of a loan largely depend on various circumstances, such as the amount of debt, the percentage of lending, the terms of the contract, the presence of guarantors and so on.

You need to know that it is impossible to stop at one point to make a loan payment, since the bank, in any case, will take measures to return its funds along with interest!

So what measures can the bank be done when non-payment of debt?

The bank may also require early repayment of the residual amount of the loan, scaring the debtors to the Black List of borrowers.

Usually after half a year (the time period may change), after the borrower ceases to systematically make a payment, the Bank appeals to the court. Most often, the bank preferences the court than collecting agencies. However, judicial production always contains legal costs, therefore, if the amount of debt is relatively small for the bank, then the trial may not be.

According to the future, the court makes one of the following possible options:

Do not forget that the debt can