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*Pay back the loan as soon as possible
*Apply for hardsip variation
*Refinance the loan
*Apply for bankruptcy
*Don't ask for a loan at all
For needed help with financial problems you can always go to banks like west pack or commonwealth for financial advice
Legal consequences
* Fall into debt or bankruptcy
Financial managements -Financial management refers to the efficient and effective management of money
Reposes-retake possession of when a b`uyer defaults on payments.
Garnished- means that a lender has applied to get a legal order so that a certain amount of money be taken from borrowers wages.
Debt and credit- tempting to purchase more goods and services- spen close to their spending limit
Financial consequences
*Repossession
*Garnished
*debit and creditcards
Some risk associated with credits cards are-
* Falling into debt
*Losing money on late fees
*Having to pay additional interest
Social consequences
*Domestic violence
* Physical and emotional illness
* Family breakdown
*suicide