We want to keep you as a customer, so please make every attempt to pay us back on time, however if still such a situation arises please contact us immediately at firstname.lastname@example.org.
If a customer doesn't pay back his loan the following may occur :
We will be forced to suspend your access to our lending services
We may Involve outside collection agencies
We may initiate legal action (if applicable)
We will report your account delinquency to multiple credit bureaus which will impact your credit scores.
A healthy credit score is used to judge your credit worthiness and decides your loan eligiblity. Most of the organizations like banks/insurance companies etc are now days using bureau information to judge the customers and various offers are designed around the same.