What happens if you don’t pay Carbon loan?
Failing to repay a Carbon loan can result in several negative consequences, including:
Additional fees: Late payments may incur extra charges, increasing your outstanding loan balance.
Credit score impact: Late or missed payments can negatively affect your credit rating, hindering your ability to secure loans or other financial services in the future.
Legal consequences: Persistent failure to repay a loan could lead to legal action, such as debt collection or court proceedings, to recover the outstanding balance.
Future loan ineligibility: Defaulting on a loan may disqualify you from obtaining loans from Carbon or other financial institutions.
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