Failure to repay a loan can lead to serious consequences, including damage to credit scores, increased interest, legal action, or asset seizure. Lenders may pursue debt collection, negatively impacting a borrower’s financial health. Understanding these risks and exploring options like restructuring or negotiation is crucial for borrowers facing repayment difficulties.
https://www.registrationkraft.com/what-happens-if-the-borrower-fails-to-repay-the-loan/