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What happens if my loan defaults?
What happens if my loan defaults?
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Written by Tu Duong
Updated over a week ago

If your loan defaults, our primary goal is to engage with you promptly and constructively. We'll start by reaching out via email, followed by phone calls and formal letters. Our aim is to work together to recover the complete loan balance and return it to our valued investors.

We understand that handling the entire loan balance upfront during a default can be challenging. To address this, we're open to exploring alternative solutions. This might include devising a practical payment plan allowing you to settle the debt gradually over time. Keep in mind that this approach may require providing collateral to support the repayment arrangement.

Timely communication is crucial. We urge you to connect with us as soon as possible in case of default, so we can provide optimal assistance. If mutual understanding cannot be reached, we may need to take further steps, such as involving a collection agency or pursuing legal recourse. However, our commitment to collaboration remains steadfast – we're dedicated to working with you to find a solution that benefits everyone involved. Rest assured, we're here to support you and facilitate a positive outcome.

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