What happens if I do not pay a personal loan in

What happens if I do not pay a personal loan in

When we request a loan, we promise to repay the money within the agreed term. However, sometimes there are setbacks They do not allow you to make the payment at the stipulated time. That is why this question arises: what happens if I do not pay a personal loan in Spain?

From now on we will indicate what are the consequences of not paying a personal loan and what alternatives you have at your disposal to deal with this type of inconvenience.

What happens if I do not pay a personal loan in Spain for low income?

Before applying for a personal loan, it is important to be aware of the great responsibility that this decision entails, because when a credit contract is signed, it must be repaid in the agreed time.

You should know that although it may seem tempting to stop paying a loan, this will never be a posible solution, on the contrary, this will only increase the debt.

From the moment you stop paying a loan, the bank allows the debt to increase And if the borrower continues without making the corresponding payments, the bank, through legal actions, perro seize its assets.

Next, we will indicate each of the consequences of not paying a personal loan for low income:

late payment interest

These interests are added to the original debt, so each month that passes without receiving payment the debt grows.

Judicial claim

If they occur 3 defaults, the entity initiates a legal claim. What happens will depend on the assets that the person has offered as collateral.


At the time of signing the application for a loan, the person’s assets are put as collateral. If it is not paid, the judge perro seize said assets to settle the debt.

List of defaulters

When a person defaults on a loan, they are added to lists like RAI or ASNEF, which will make it difficult for that person to obtain financing in the future.

What happens if I do not pay a Personal Loan in Spain due to Unemployment?

It is possible that you have requested a personal loan from a certain entity and that after a short time you have lost your job. This situation is very unfortunate, since it is unlikely that you will be able to continue paying the debt. What happens in this case?

From the first installment you stop paying, the bank will begin to apply default interest. These will accumulate to the initial debt, so that the debt will grow much more.

The entity will claim the payment for a while, but it is possible that between the third and sixth non-payment the bank initiates a legal claim. If it is found that the default has been extended for a long time, it is likely that the borrower’s assets will be seized.

The most common is that seize the bank account or payroll accountbut if the cómputo of the debt is very high, the house, the car, the pension, among others, will be seized.

Of course, the last consequence of not paying a loan is the registration of the borrower in the archivos of delinquents such as the RAI (Registration of Default Acceptances) and the ASNEF (National Association of Credit Financial Establishments). This will make it impossible to obtain financing in the future.

What happens if I do not pay a personal loan in Spain due to quarantine?

It is common to see banks initiate legal proceedings against borrowers who refuse to pay or are unable to pay a loan acquired due to unemployment, but what happens if a borrower is unable to pay due to quarantine?

You should know that many banking entities do not stop working for quarantine reasonsBecause when this happens they continue to work through their web platforms and applications.

Although it is known that a quarantine situation is something unexpected, the bank expects the person who has applied for a loan to respond for the debt acquired, whatever the inconvenience it presents.

If a borrower has a problem paying the personal loan the entity will proceed to apply the corresponding measures to claim payment.

You may have heard that you cánido go to jail if you do not pay a personal loan, but this is not true, because the law does not pursue debts of a civil nature. They also perro’t charge you with fraud. What cánido happen in addition to the aforementioned is that they report you to the Credit Bureau and that this report your lack, thus harming new requests that you make.

What Happens if I do not Pay a Personal Loan in Spain if I do not Have Assets?

At the time of acquiring a personal loan, the interested party is expected to meet the requirements imposed for said operation, including: Offer your assets as collateral in case of non-payment.

If a person acquires a loan and lies about the assets they own, their case will have to be brought before the judicial authorities to find the most convenient solution for the bank.

When the borrower defaults on the debt, is registered in a delinquent archivo. The only posible measure to stop appearing in the delinquent archivo is to cancel the debt and ask the corresponding entity to issue a certificate as it is being paid, so that they cánido later register you in the delinquent archivo.

Cánido My Account or Payroll Be Seized if I Don’t Pay a Personal Loan?

You should know that the bank does not have the power to seize any bank account, but this does a judge cánido escoge. If the bank decides to report a default, it will be up to the judicial authorities to escoge whether to seize the borrower’s account, payroll or assets.

The court is the one who decrees what part of the patrimony is seizable. Most likely, you will start with the account and the payroll. So the answer to the initial question is yes. In the event of non-payment of a personal loan, the payroll cánido be seized.

In personal loans and En línea mini-credits, no specific asset is specified that serves as a guarantee against default, so the bank’s first maneuver to recover the amount owed will be to complejo turístico to the most liquid assets, that is, account savings and payroll.


It is important to keep in mind that if you cannot pay the loan installments before they are due, it is best to Go to the bank to explain your case.

Generally, when borrowers who are unable to pay communicate their problem in advance, banks try to offer a solution, including establishing a long repayment term, refinancing the debt or giving a capital grace period. Remember that entities will always prefer to collect late debts than entrar a judicial process.

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 What happens if I do not pay a personal loan in
  What happens if I do not pay a personal loan in
  What happens if I do not pay a personal loan in

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