Meaning of the word: Collection
The collection means debt collection. This expression is usually used to indicate auto-collection, which is useful payment instrument, when the lender deducts from the debtor's account the amount owing. The collection is used, for example, to cover an habitual payments for electricity, gas, water and the like.back to dictionary >
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Interest on arrears
Interest on arrears is charged to the debtor in case that he doesn't pay his loan in time. It is not a classic sanction, but it is the refund money.…go to the dictionary >
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