Tala Help > Loan Repayment > Loan default and late fees
What happens if make a late loan payment?
We understand that unforeseen circumstances can occur and you might be unable to make a payment. If you feel that you may be late in making a payment, the best course of action is to contact customer support and explain your situation. Tala's customer support team will do their best to work with you. Missing or late loan payments may result in late payment interest fees, a lowering of credit limits and may even result in future issues with getting a subsequent loan from Tala and possibly other lenders. We encourage customers to work with our customer support team to create payment plans that can get you back on track.
In case of defaulted payments, customers may be contacted by collection agents. In cases of a long period of non-payment, Tala may blacklist your account and be required to report the delinquent account to relevant credit reference bureaus.
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