A non-payment occurs when a person or company does not respond to its payment obligations, therefore a debt is generated. When a loan is contracted, the two parties involved in the agreement determine the amount of the payment in the form of interest and the way in which it will be made, so that its default results in an imago of the debt.

Non-payment of any invoice means creating a debt, with all that it may entail. One of the most immediate consequences is that the creditor enters the debtor in a list of defaulters. Today you can take out insurance to protect yourself from these situations that generate debt, for example, being the holder of non-payment insurance or simply non-payment insurance. What is intended with this type of products is to protect ourselves if we originate a debt caused by a non-payment, the problem is that they are products that are generally quite expensive to hire and they are not usually insured to individuals or companies that have some type of debt noted on the delinquent lists.

Non-payment is always going to cause us numerous problems, demands, complaints and unwanted issues that can affect not only our income, it can even affect a pension and even our ability to purchase basic necessities. A non-payment can also affect the people around us in case of having some guarantee from family or friends.

The non-payment of a mortgage letter, a monthly rent, the telephone or gas bill usually ends with the debtor within a list of defaulters. It is very important to know all the consequences associated with non-payment. Many times the debtor is not aware of all the repercussions until it is already in the file. What's more, it is possible that the client has forgotten about the debt and later when they go to buy a car or when requesting financing in a business, they deny it because it is within these famous files.

Furthermore, in the case of some companies such as the State, when trying to collect their debt, they can seize the property of the defaulter. It is very important to be up to date with all payments so as not to suffer any of these situations.

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