• tom edited their profile details
Upon signing the term agreement of your loan, you have given the lending company the right to force you to repaying the debt. This includes legal actions against your person. What are the instances of you winning a judicial battle with the lender? Zero or none! A loan is still a debt and you have to pay it according to the document you have agreed upon. The court may be lenient and give suggestions on how you can repay the lending company. It may suggest that you and the lending company work on a payment scheme to give you ample time to search for enough money to pay off your debt. You may have signed up your real property to the lending company as collateral for your loan, then you can say goodbye to your hard earned property because it will be confiscated by the court as payment.

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