What actions does Fundscraper take in the event of a borrower default?

Fundscraper on your behalf takes the same actions as any other responsible lender. We first work with the borrower to assess what the obstacle to repayment might be. Once we understand the situation, we can work on a solution. If there is no reasonable solution, then we take steps to enforce the security. The value of the security is typically less than the value of the assets we have registered security against. Therefore, if we do have to enforce the security, it is our expectation that there will be sufficient valuable real estate to fully discharge what the defaulting borrower owes which include the expenses incurred enforcing the security.

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