The Implications of Non-Payment | In the case that you do not repay your loan on or before the loan due date, your loan will be considered delinquent and will be subject to a fee defined by bpi personal loan for seafarer lender.
In addition, your bank will charge you an NSF (non sufficient funds) fee for the failed item. The rate of interest will continue to grow on the unpaid balance at a rate of up to 60 per year. In the event that you fail to repay your loan you will not be allowed to borrow from the lender again until you have paid of the balance in full. Only reputable collection agencies that comply with all lawful collections practices are employed and the customers credit rating may be negatively impacted if payment is not made in a timely fashion.
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