If you have applied for a loan and are unaware of the repercussions of non payment of loan due to an economic down turn, loss of job, you are not in a position to work, crippled due to an accident or are chronically ill. Understand the after effects of non payment of loan, incase of a secured loan you may lose your collateral, face creditor’s harassment and further court proceedings.

When the economy is sluggish, there is a greater chance of you falling prey to the . More »