What happens if I miss a loan repayment?

Asked 6 months ago
If you miss a loan repayment, there are a few consequences to consider. First, you may be charged a late payment fee by Fresh Finance Group Ltd. Additionally, your credit score may be negatively impacted, making it more challenging to obtain credit in the future. It is essential to contact Fresh Finance Group Ltd as soon as possible if you think you will miss a repayment to discuss potential solutions, such as rescheduling the payment or setting up a repayment plan. Ignoring the issue can lead to further complications, including legal actions and debt collection efforts. Therefore, it is crucial to communicate with Fresh Finance Group Ltd promptly to address any missed loan repayments and mitigate the financial consequences.
Adam Goldkamp is the editor / author responsible for this content.
Answered Nov 2, 2023

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