Know about the repercussions of Personal loan default - PowerPoint PPT Presentation

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Know about the repercussions of Personal loan default

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Defaulting on a personal loan will almost certainly impact a person’s mental health and mental peace. If a person does not repay their loan on time, then they will start receiving numerous calls from their lender. Certain lenders often send bank personnel to the defaulter’s residential or commercial address to pressurise the person to repay their loan amount. In such cases, the overall impact on mental health can be devastating. – PowerPoint PPT presentation

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Title: Know about the repercussions of Personal loan default

1
Know about the repercussions of Personal loan
default

www.herofincorp.com

BY Herofincorp

www.herofincorp.com
2
Increased debt

The interest component will accumulate over time.

www.herofincorp.com
3
Drop in credit score

Your credit score will suffer, reducing your
borrowing capacity.

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4
Legal Repercussions

You may face imprisonment.

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5
Impacts Personal life

It causes mental stress and strained
relationships.

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6
How to Avoid Defaulting on a Loan?
www.herofincorp.com
7
Opt For Debt Consolidation

Combine high-interest loans and repay them all at
once.

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8
Never Ignore your lender

Your lender might send a legal notice if you
ignore their calls.

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9
Describe Your Financial Situation
www.herofincorp.com

Request rescheduling by asking for longer
repayment terms.

10
Hero Fincorp

Personal loan default has many negative
consequences. It is preferable to communicate
with your lender to overcome this situation.

11
Thanks!
Would Love to hear from you.
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel 18001024145
Email customer.care_at_herofincorp.com
Website https//www.herofincorp.com/
www.herofincorp.com
Know More What are the Consequences of
Defaulting on a Personal Loan?

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