Not being able make payments on time can be a harbinger of undue stress. Since no two individuals are alike, the reasons for this can vary depending on circumstance. However, the implications of not being able to do so remain just as potentially severe.
Let’s say you take out a payday loan. You know that you already have a short timeframe to pay back the money you borrowed. However, uncertainties are still bound to happen and you might end up defaulting on the loan.