هل يسقط القرض بعد مرور سبع سنوات؟

Hello Michael,

As per your query, please note that you have to pay the outstanding balance, even after any time period as mentioned. The financial institution will somehow recover the unpaid amount.

Yes, the loan you have taken and every step taken by the financial institution like cheque bounce or debt collection, or recovery will be reflected in the credit bureau.

Also, please note that to avail of a further loan, it will depend upon the bank and your credit score.

Dear sir,

The loan repayment period is 48 months as a maximum, so you must refer to the bank first before stopping payment and obtaining a clearance certificate in order to be able to obtain a new loan.