暗网禁区

Delay in loan installment payment

Ahmed7861 Active member

Member since 28 January 2018

Ahmed7861Active member05 March 2020 23:03:05

29

A friend of mine haven't received his salary last month. He has to pay his monthly loan installment but didn't have any cash聽 to pay the installment this month. so I just want to know that, if he delay his this month loan installment then it Will be any problem for him legally?
What if he pays the installment after one month delay?

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logicalindian Bahrain Expert

Member since 01 May 2013

logicalindianBahrain Expert06 March 2020 07:25:11

3443

There could be a penalty applied by the bank, his loan contract聽 document should have all the details.

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XTang Bahrain/UAE/KSA Expert

Member since 22 April 2014

XTangBahrain/UAE/KSA Expert06 March 2020 11:51:42

11878

Check with the bank.聽 In all likelihood, they will levy some penalty or charges on him if he pays a month late.

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