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Cashberry - quick, convinient 24/7 online loans solution

CashBerry is a financial company, providing an online loan consultation service that is fully automated, disbursed within the day.

Loan term, days

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The conditions for applying for a loan at Cashberry

4 easy steps to register for a loan

Filling in the registration form
Provide a phone number and fill in personal information. Register and send request for a loan.
Getting approval and Signing an Agreement
The approval results will be anounce via phone call. Only need to log in to Personal account and sign an Agreement.
Receive money
After the application is approved, our partner will transfer the money to your account.
Make repayment to our partner according to the instructions.
with flexible terms at CashBerry
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum
Get loan
  • Term:
    Term: min 92 days, max 183 days
  • Loan limit:
    Loan limit: 100 000 - 5 000 000 VND
  • Interest rate:
    Interest rate: 10,95 - 14,6 %/per annum

Having too many loans at the same time, you fall into default and can no longer pay on time. So, when you have defaulted on your debt, is it possible to gradually repay the debt?

I'm in debt ! Credit debts, bank loans, debt to relatives/friends made my life exhausted and completely insolvent. So, if I default on my loan, is it okay to pay it off in installments? CashBerry will help you solve this problem in today's article.

The Covid-19 pandemic has caused the demand for loans to increase rapidly. Although loans can help solve temporary difficulties, they also come with unforeseen risks. Especially in the case of business loans at this time, it is very easy to fall into a loss situation leading to default, not paying the loan on time or no longer able to pay.

When faced with this situation, is it possible for the defaulted person to ask for a gradual repayment ? To answer, you need to determine if you are in one of the cases below which are eligible for debt extension!

What is default?

When taking out a loan, between you and the lender (bank/credit institution, individual) will often have a property loan contract. This is a testament to the agreement between the two parties on the interest rate and repayment period. On time, you must return to the bank/credit institution assets of the same type (correct quantity and quality) and pay interest as agreed upon, guaranteed by law.

If you are not able to pay your debts even though they are due, you will fall into a state of Default. To put it more simply, default is the inability to pay your debt, including the principal on a loan or stock investment. This happens not only to individuals, but also to a business, even a country.

Total default risk can be calculated in advance by creditors. When a default occurs, it will greatly affect your credit and ability to borrow in the future.

Many individuals are facing the risk of "defaulting" every day

Many individuals are facing the risk of "defaulting" every day

What caused you to default?

Unexpected defaults leave you bewildered and disoriented. But nothing is random, everything has its cause.

Debt in many places

The loans online , bank loans , loans from relatives and friends until the loans hot , black credit , ... Too many loans in many places may be the cause of insolvent because monthly, the amount collected is not enough to pay the interest, let alone the principal.

Loss of business and investment

Most people go bankrupt and default on their loans, often because of a loss in business. Before starting a business, people often look to large loans to have money to invest. But for some reason, the business is not profitable as expected. As a result, they no longer have money to repay their previous loans.

Splurge spending

Using loans improperly and indiscriminately is one of the main reasons why you easily fall into "default". Which is shopping for branded goods, playing lavishly, buying luxury items or buying and selling illegal products, etc. sooner or later will fall into debt.

No clear repayment plan

You take out a loan but do not have a clear payment plan (about how much your salary/income is per month, whether you can live and repay the debt, etc.) Consequences affect the ability to pay debts and subsequent default.

Young people default, owe their husbands debt because of excessive spending

Young people default, owe their husbands debt because of excessive spending

Difficult situation, unable to pay debt

This is often the case with those who take out a loan to send their children to school, get medical treatment, etc. In this case, lenders can imitate and offer many incentives in terms of interest rates as well as payment time. owe them.

Being scammed by a credit institution

Black credit institutions often take advantage of the fact that the borrower is in urgent need of a large amount of money to arbitrarily raise interest rates, forcing them to pay early when the borrower does not have one. Then some time later, the amount from a few dozen can go up to hundreds. Poor borrowers can't pay off forever, mother's interest, child's interest, etc.

To solve it, first of all, you have to calmly review your current debts, who are you owed, if you are insolvent, can you gradually repay the debt , etc.

What happens when you default?

Never have the thought of defaulting and then there will be " someone to help me pay the debt ". Because once in this situation, you have suffered many impacts, both direct and indirect.

- In case of default on a secured debt:

Individuals (or businesses, countries) determined to be insolvent, lenders have the right to recourse their loans. With a secured loan, the lender will make a legal claim against the collateral to compensate for the loan.

- In case of default on an unsecured debt:

Credit card debts, medical bills, etc. are unable to pay, the lender still has the right to make legal claims and sue. In this case, the judgment will rest with the court. And lenders are allowed to take possession of the borrower's property when they fail to fulfill the contract.

- If default on student loans :

As unsecured debt, student loans in default will have the same consequences as defaulting on credit card debt.

Debt default entails a series of worrying consequences

Debt default entails a series of worrying consequences

So, is it possible to get a debt repayment if you default ?

When the loan comes due and you are not able to pay, you have the right to apply for a loan extension to extend the repayment period. Debt extension is considered a creditor's right and is only performed at the request of the obligor. If approved, your debt payments will still be considered on time. 

Therefore, it is possible for you to default on your loan and ask for a gradual repayment . But make sure you meet the following conditions:

1. The subject is entitled to apply for a debt extension.

●    Borrowers suffer financial and property losses due to natural disasters, crop failure, epidemics, fires, political risks, wars affecting production and business.

●    The State changes policies that affect the borrower's production and business activities.

●    At risk due to other objective reasons.

2. Failing to repay the debt (principal, interest) on time according to the signed compulsory debt receipt contract.

3. There must be a viable production and business plan and a debt repayment plan after the debt is extended.

4. The borrower's debts have been adjusted for payment terms or have not been adjusted but the Credit Guarantee Fund appraises and assesses that if extended, the borrower will not be able to repay the debt.

Regarding the debt extension time, a debt can be extended many times, but it must be ensured that after the debt is renewed, it will not exceed the mandatory debt collection period. That is, no more than 1/3 of the loan term within which the loan is guaranteed by the Fund.

For example, you have a loan at CashBerry but for some reason, you are currently unable to pay as agreed in the contract. Don't worry, because CashBerry always gives you the right to extend the loan from 10 - 15 - 30 days. This is a special policy for CashBerry's difficult customers.

So, if you are in need of a quick online loan , CashBerry will be the most appropriate choice for you. CashBerry financial company supports reputable, safe and absolutely secure 24/7 online lending service .

You are completely proactive in the loan process when you just need to visit the fanpage or website Then, leave your ID/CCCD information to verify that you have an instant loan of up to 10,000,000 VND.

Debts are inevitable in today's life, but you must make sure you can afford to pay to avoid default. And definitely choose to borrow from reputable and transparent places like CashBerry. Because here, you will never be afraid that you "default" or have to wonder if " default, ask to be paid gradually " or not!

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