What to do if you can’t pay your loan in timeIf you fail to make on-time payments, your loan goes into default. Here are a few things you may need to do if you are not able to pay your loan in time. Deferment works best mostly if you are a student and you took a student loan and you aren’t able to pay in time. A loan deferment simply postpones your starting time of repayment of the loan. In the wake of another loan default, you risk losing the assets securing your loan.

Source: Standard Digital March 22, 2020 09:56 UTC