What happens if I do not repay the loan? What should I do if I can not pay my personal loan ? Can not I repay the loan I made at the bank? I got a loan I can not afford anymore. We always read Starbuck’s comments and found dozens of questions with that same theme.
It is not a few people who, when confronted with the lack of money, decide to take out a personal loan, payroll, and financing of assets. Borrowed money, that is, the solution to the problem comes relatively easily, if you have the clean and good score you can, if you have denied, a secured loan resolves. We already know that when the contractor has credit, there are countless possibilities! However, this does not always mean that everything is wonderful. The next action after 30 days of using the borrowed money will be precisely having to repay the lender or repay the loan .
Even if the installment payments have been planned within the budget, with deadlines and values that fit within the monthly finances, even if the right bank or the bank with the lowest interest and the greatest facilities has been chosen, it is not always possible to guarantee payment is made every month.
Because? It can be either for lack of control of the expenses of exit and entrance, or because it was without the job or there were extra expenses with the health, they are example. Well, we can not deny that in the last 3 years there have been thousands of cases where borrowers or borrowers have been unable to take them out as they see fit.
And if I do not repay the loan, what happens?
Let’s think of the loan as a service, being a contracted service it will impose rules that must be fulfilled by the client (contractor) and the company (contractor). When the contractor fails to comply with what was provided in the contract, when he does not pay for the service enjoyed, he breaks the agreement and will be punished for it. Therefore, when the loan is not paid, it becomes unpaid debt (default). Half ironic, huh? What is considered a solution to pay off debts, is also transformed into it. Yes, but it happens!
In some loan agreements it is mandatory to place some asset as a guarantee or that has collateral as collateral. In this way, if the person who presented the types of guarantees requested, by not paying the loan, it is certain that he will have problems and the creditor company will request the good or that the guarantor pays with the expenses of the credit operation that has turned into debt.
Is my loan secured or unsecured?
Each case is a case, everything will depend on the type of loan that was hired. Example, if you hired some form of credit that to borrow the money you need to put a good as collateral payment as a house or vehicle if by chance the borrower does not pay the loan, in addition to losing the good given as collateral, in some cases are also required to pay off all the outstanding balance and still get the name denied.
To recap : In unsecured personal loans, generally credit limit loans, check loans, personal loans and consumer loans in general, if no collateral has been offered as security for the loan, and the contractor does not pay and nor is it interested in making an agreement to repay the loaned amounts, his name may be denied for five years or more at the SPC (Credit Protection Service), Notary’s Office, at Serasa Experian and may still be subject to judicial action.
Therefore, it is advisable to go and talk to the lender as soon as you realize that you will not be able to repay the installments of the loan . Trying a settlement with adjusted installments is always the best option for not getting into even more debt and not losing a good relationship with your lender.
Something that can not be said is that if you are not sure that the personal loan you want can be repaid, or worse, if you do not intend to pay it, you’d better not hire it. Having the dirty name on the square is not good for anyone.
Charge for not paying the loan
The most disgusting thing is when you do not pay the installments of the loan , it’s pending and after a long time this debt can be sold to a company that specializes in collection and start calling you and your family insistently. You fool yourself who you believe will not be charged in this way.
However, renegotiation of debts is always one of the best ways, it is usually possible to get excellent discounts of debt not honored. Another detail that is not good, is the default time, the more time to solve the pending, the greater the difficulty in resuming the credit score and better evaluation in the systems of the financial institutions when requesting a new loan or banking service.
Can not get more credit in banks or financials
Unfortunately in Brazil, a good percentage of the population is denied. This means that all banks, financial institutions and credit unions through a protection agency such as SCPC and Serasa know that you are a debtor.
The problem of being negative is that most lenders will not lend money or release installments in the conventional loan format. So, as long as you do not pay the personal loan, financial debt and clear your name, you will have great difficulty in soliciting and approving some types of loans and financing.
It is worth mentioning that when the payroll loan is not deducted from the borrower’s payroll, his name can go to the SPC and Serasa if the company or public agency does not pass the money to the lender. So if you can not pay the payroll loan or personal credit, contact the bank and tell the situation.
A common question here is also the following – do not pay bank loan gives chain ? No, no unsecured or secured loan takes a citizen behind the bars. One more – borrowing money and not paying is a crime and is not configured as a stencher the non payment of bank loans.
If you are owed in the bank, the most that can happen and lose the guaranteed asset when there is or have the name denied in the organs of protection and notaries, as well as lawsuits.