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What happens if my loan defaults?

  • Updated

In the event of a loan default, we will make every effort to reach out to you initially through the SAPI Dashboard, followed by phone and letter correspondence. Our goal is to work with you to recover the full loan balance and return this to our investors. While the entire loan balance is due at the point of default, we understand that you may not be able to make payment in a lump sum. In such cases, we can explore options for a payment plan that allows you to pay the debt over time. Please note that this may require collateral to support the repayment plan.

We strongly encourage you to contact us as soon as possible following a default so that we can provide the best possible support. In the event that an amicable agreement cannot be reached, we may need to take further action, including passing the debt to a collection agency or pursuing legal action through the courts. However, we remain committed to working with you to find a solution that is both feasible and beneficial for all parties involved.

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