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What happens if my loan defaults?

  • Updated

In the unfortunate event of a loan default, our primary aim is to engage with you promptly and constructively. We will initiate communication through email as the initial step, followed by phone and formal letter correspondence. Our ultimate objective is to collaborate with you in order to recover the complete loan balance and restore this to our valued investors.

We comprehend that managing the entire loan balance upfront might pose challenges during a default. In recognition of this, we are open to exploring alternative pathways, such as devising a practical payment plan that allows you to settle the debt gradually over a defined period. Please be aware that this approach might involve providing collateral to support the proposed repayment arrangement.

Timely communication is key. We strongly urge you to connect with us at your earliest convenience in the event of a default, enabling us to extend our optimum assistance. In cases where mutual understanding cannot be reached, it may become necessary for us to take further steps. These could encompass involving a collection agency or pursuing legal recourse through the courts. Nevertheless, our unwavering commitment remains rooted in collaboration – working earnestly with you to identify a solution that serves the interests of all parties involved. Please know that we are here to support you and facilitate a positive outcome.

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