- Once a loan is defaulted we will begin working with you or any personal guarantor(s) of the loan to recover the full balance of the loan (including all unpaid principal, interest, charges and costs) so we can return this to the investor(s). While the full balance of the loan is due at the point of default, if you are unable to repay in one payment, we can work out a payment plan so you can pay the debt over a period of time.
- We will always discuss your available options with you, so please make sure you contact us as soon as default occurs.
- If an amicable agreement is not reached, we can also take further action after default, including passing the debt to a collection agency and taking court action.
What happens if my loan is defaulted?
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