A loan default can occur when the borrower is unable to repay the credit to the lender. In some cases, a loan default could also include the violation of the terms and conditions of the loan agreement between the borrower and the lender. If the borrower has violated any of these terms and conditions, he would be considered as the loan defaulter by the lending institution and the latter has the right to impose restrictions or demand full repayment of the loan or even charge additional interest. [Read more…]