Meaning of the word: Installment
Installment is a payment, which debtor indicates regularly repaid to the lender. Regular installments are typically paid on a monthly basis, however, there are also lower loans which are repaid in weekly intervals. Installments must be repaid on time, otherwise, the debtor has the threat of sanctions.
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FROM DICTIONARY
Co-debtor
Co-debtor is a person who is willing to participate in the debt repayment, together with the debtor up to 100% of the amount due. Co-debtor has the…
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