If you have financial problems and fail to repay the bank on time, you must contact the bank as soon as possible so that you can find a solution together. It's much better to do this early, before your problems escalate. If you do not pay on due, you will first receive a reminder from the bank. If you still do not pay, you will have to pay penalty interest rates. In worst case your loan will go to debt collection, which is expensive. This will negatively affect your credit history, which will make it difficult for you to get loans in the future, as well as credit cards and cell phone subscriptions and other financial services.