Meaning of the word: 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. At the same time it works as the enforcement agent of the creditor. Interests on late payments are usually higher than classic loans.back to dictionary >
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Debt consolidation is a consolidation of many loans to the one loan. It is convenient for a debtor who has many loans with high interest rate. The…go to the dictionary >
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