Just after seven many years of maybe not and then make people repayments on your own debt, it can be for you personally to deal with the results. Listed here are three items that will happen: 1) The debt may be forgiven by the creditor. This really is specifically prominent in the event brand new borrower could have been struggling to pay on account of an economic crisis otherwise pure crisis. 2) You might have to start making payments once more, that’ll mean enhanced rates of interest and you may stretched terminology in your financing. 3) You might have to deal with a lawsuit on collector.