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Answer Quiz

Repayments: what happens when you default on your loans?

What happens when you can’t settle your debts or loans?

Loan defaulting can have terrible consequences, and should be avoided. However, sometimes an emergency or poor planning can get in the way.

In this video, you will learn how to identify early signs that you are in danger of defaulting, the consequences of defaulting, as well as how and when to get professional financial advise. You will also learn about your credit report with the Credit Bureau of BNM and how it can affect your future loan applications.

Before you apply for a loan, make sure that you are able to make your repayments to avoid the possibility of defaulting.

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Lesson Quiz

What are the sign that you are not in financial difficulty?

The Credit Bureau of Bank Negara Malaysia keeps information of borrowers’ credit score through a system called?