Borrower Responsibilities

Close up of someone signing a contract


When you take out a loan, you enter into a legal contract with the lender.

This contract makes you liable to repay the obligation as set forth in your loan agreement.

What happens if you can’t make a loan payment?

  • Contact us immediately to explain your dilemma 

What are the consequences of ignoring loan obligations?

  • The creditor may take possession of the security pledged on the loan
  • Your financial institution may call the loan due payable in full in event of default
  • Your credit rating may be negatively affected which could harm your future credit worthiness
  • Credit quality may be utilized to determine insurance premiums and employers may evaluate credit as part of their hiring process

Have questions about a loan?

Contact Us