What will happen if I don’t pay my tala loan? This is the question that I have in mind after I got my second time loan pay out on Tala Loan App. I was wondering if what would be the consequences of not paying my Tala loan.
So since I have this blog right here, and I know for sure I’m not the only one have the same question, so I made little research so here I got my article for you guys.
Before writing this article, I actually personally made an experiment. What I did was I didn’t pay my Tala loan on the date that I should make a payment, and even extended it up until the next month.
So here’s what happens.
Here’s What Will Happened If You Don’t Pay Your Tala Loan
The first thing that Tala did was charged me a total of 8% as a penalty from the amount the I owed to them. And after that, they kept on sending me emails and messages saying I have to settle my obligation to them or else they will endorse me to their credit collection partners.
I continued my experiment for more couple weeks, and then I started to received calls from their credit collection partners asking questions why I haven’t paid the money that I have owned to them.
Of course, I made some explanation and just to let you know, their collection agents are really good at talking, hahaha I mean they are trained to forced you pay back what you owed to them.
They will tell you about the trouble that you might get into if you will not pay back your loan. But here’s the consequences that you might get if you will not pay your Tala loan, I made some research and here’s what I got.
Here’s Consequences Of Not Paying Tala Loan
One of the consequences of not paying your Tala loan is you will be blacklisted from Tala loan program. And aside from that, you might be also reported to credit reference bureaus that may result your name get blacklisted even from other related loan program in the Philippines.
I have this cousin who is working as a staff in one of the Malls that we have here in our city. And he told me that some of his colleagues also owed money on Tala, and they never paid back.
What they did was they just ignored the call of Tala’s credit collection agents, he even mentioned specific number of months that his colleagues didn’t able to pay their tala loan and he said that it’s already “five months”.
I ended up paying back my loan on Tala after three weeks of my due date, I was thinking that we should be even thankful that this company exist, where we can just easily barrow some money for our emergency needs.
Summary And Conclusion
Based from what I got, I mean from my research asking questions to people who happens to have an unpaid loan in Tala, it will not actually cause you to some kinda massive trouble, etc. But I would really suggest that we should pay back whatever the amount that we owed to them.
Just like what I have mentioned above, we should be even thankful for this company of having this program for us, allowing us to easily barrow money with a very minimal amount of interest compared to what we usually have in our neighborhood.
So let’s just do the right thing, may God Bless you.