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Loan Default vs Wilful Default: 5 important differences and how they can affect a borrower's future credit prospects

Loan Default vs Wilful Default: 5 important differences and how they can affect a borrower's future credit prospects

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Loan default and wilful default carry different consequences for borrowers. Understand five key differences, RBI rules, lender action, credit score implications and how wilful default can restrict future borrowing and access to institutional finance.

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