What steps can banks take if you are late on a loan payment?

Answers:0   |   LastUpdateAt:2012-09-20 22:15:03  

Question
Lilit
Asked at 2012-09-20 22:15:03
My sister has a personal loan through a bank of big name and had a rough ride financially in 2008 ( like most of us did ) . She is almost 3 months late in paying your loan - you owe for November , December, January and now is due to deferrment 16th.She already have a few months ago for 2 payments , but since she is behind again.I was wondering if it was something repo as seen happen to people with car loans that do not pay . I was wondering what steps take.Do send it to collections ? It's a shame because if it had been on time your loan just about being paid for the last month I'd love to help , but I'm struggling myself.Thanks for the help .
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