repayment obligation

What if You Fail to Repay?

Failure to meet repayment obligations can lead to:
1. Legal Actions: Lenders may take legal action to recover the owed amount.
2. Loss of Assets: Collateral provided during loan agreements can be seized.
3. Credit Score Impact: Your credit score will suffer, making it difficult to obtain future financing.
4. Bankruptcy: In extreme cases, the business might face bankruptcy.

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