Fees

1. Increased Financial Costs: Defaulting on your loan will incur additional late fees and penalty interest, increasing the total cost of your loan.

2. Credit Score Impact: Failing to repay your loan on time may negatively affect your credit score, making it more difficult to obtain financial services in the future.

3. Legal Actions: Continued non-payment can lead to legal proceedings for debt recovery, which might include wage garnishment or seizing of assets.

4. Collection Practices: We may engage debt collection agencies to recover unpaid balances. This process can include frequent contact from these agencies.

5. Loss of Access: Defaulting on your loan could result in the loss of eligibility for future loans with us and other lenders.

Please consider your repayment capacity carefully before entering into a loan agreement.