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3 Major Consequences of a Personal Loan Default in India

Do you want to know what the consequences of defaulting on a Personal Loan are? Read this to know what happens in this situation and what you can do in this case! For More Info. Visit Our Website: https://www.fullertonindia.com/knowledge-center/consequences-of-defaulting-on-personal-loan.aspx

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3 Major Consequences of a Personal Loan Default in India

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  1. 3 Major Consequences of a Personal Loan Default in India

  2. Defaulting on your personal loan repayments can send your credit score into a downward spiral. So understand the extent of the impact you need to review your credit report carefully. Your Credit Score is Impacted

  3. A major loan default consequence results in increasing your financial burden. When you fail to make your payments on your personal loan on time, you are not just liable for the monthly instalment alone. Financial Burden Grows

  4. Moreover, your lender may take legal action on you against you to recover their debt. Unless you figure out how to settle your defaulted personal loan via amicable discourse, you too will start incurring legal fees. Arbitration or Legal Action

  5. https://en.wikipedia.org/ wiki/Loan Reference URL https://www.fullertonindia.com/k nowledge-center/consequences- of-defaulting-on-personal- loan.aspx

  6. Thank You!

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