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Real Consequences Of Not Paying Your Loans

Taking out a loan can be a smart and responsible way to manage short-term financial needs — but missing repayments or defaulting on your loan can have serious and lasting consequences.

At Eyam, we’re committed to empowering South Africans with fair, transparent, and affordable credit. Understanding the risks of late or missed payments helps you make better financial decisions and protect your financial future.

1. Damage to Your Credit Score

Each missed payment is reported to credit bureaus. This lowers your credit score, making it harder and more expensive to borrow money in the future — not just from Eyam, but from any financial institution in South Africa.

2.Extra Fees and Accrued Interest

Late or missed payments trigger penalty fees and additional interest charges. These can quickly grow your balance, making it harder to catch up and more costly in the long run.

3. Legal and Collection Action

If payments remain unpaid, your loan may be handed over to collections or legal recovery, which can lead to court judgments or blacklisting. This could limit your financial opportunities for years to come.

4. Loss of Access to Future Credit

Defaulting on a loan can make you ineligible for future loans or other financial services — both with Eyam and other lenders. Maintaining a clean repayment record ensures you remain in good standing.

5. Emotional and Financial Stress

Falling behind on payments can lead to constant stress and anxiety. Calls, letters, and legal threats can take a toll on your mental health — and your overall financial wellbeing.

How to Avoid These Consequences

If you’re struggling to make your loan payment, don’t stay silent. Contact Eyam immediately — we’re here to help. In many cases, we can arrange flexible repayment plans or temporary payment extensions to help you stay on track.

Let’s Build Financial Wellness Together

At Eyam, we believe in second chances and responsible financial growth. Staying proactive, communicating early, and honoring your commitments are the keys to long-term financial success.

📞 Contact Us:

  • Eyam Investment Technologies (Pty) Ltd (NCRP21774)
  • Email: info@eyam.finance
  • Phone: 0872652055
  • Website: www.eyam.finance