{"id":48596,"date":"2023-11-16T13:52:12","date_gmt":"2023-11-16T21:52:12","guid":{"rendered":"https:\/\/financer.com\/?post_type=wiki&p=48596"},"modified":"2023-12-26T08:07:40","modified_gmt":"2023-12-26T16:07:40","slug":"what-is-a-loan-default","status":"publish","type":"wiki","link":"https:\/\/financer.com\/loans\/articles\/what-is-a-loan-default\/","title":{"rendered":"What is a Loan Default?"},"content":{"rendered":"\n
A loan default occurs when a borrower fails to pay back a loan according to the terms agreed upon with the lender. <\/p>\n\n\n\n
This isn’t just missing a single payment or being a few days late. Default is what happens when the borrower is significantly behind, often after several missed payments.<\/p>\n\n\n
If you’re at risk of defaulting or already in default, it’s important to act now. Reach out to your lender as soon as possible. They may offer options to help you get back on track.<\/p>\n
Remember, facing financial challenges can be overwhelming, but taking this step is a positive move towards regaining control, and can often reduce stress.\u00a0<\/p><\/div>\n\n\n
Read More<\/strong>: What Happens If You Don\u2019t Pay Student Loans?<\/a><\/p>\n\n\n