Delinquencies are a natural component of investing in Notes. When members fall behind on their payments, Happen Bank makes significant efforts to contact them, collect outstanding payments, and bring the loans back to "current" status.
In addition to servicing and collections efforts, Happen Bank reports delinquent borrowers to credit bureaus every month. This information may adversely impact a member’s credit score and their ability to access credit in the future, which can incentivize borrowers to bring their loans back to “current” status.
