Before I take out a loan, I wanted to make sure what they look like in practice, the matter of 1-2 days later in repayment. I run a business and my income depends on whether and when the customer pays the invoice, only then can I make the payment.
This is, unfortunately, the case. The question is how are loan companies reacting to such minor delays? Are the heaviest guns rolled out straight away?
You can be late with payments for customers, employees, for offices – but remember, do not be late with payments for banks, because the consequences will be very unpleasant. I am thinking primarily of the financial consequences; / [see the table of penalties and commissions Once I had a delay of several days, they sent a reminder at the beginning, which according to the contract cost USD 7.
Later came a registered letter with a prompt, which according to the contract cost something around USD 30. So all the fun with over a week’s delay cost me an additional 37 USD. But those were the past ten years ago. I don’t know what it would look like now. In most cases, delays of several days will go unnoticed. The problem may arise after over a week’s backlog.
Then expect recovery and it won’t be nice conversations. In Good Finance, I think I had a 4-day delay, 3 days after the deadline, I received a text message with a reminder that they had not yet recorded the payment so that I could make it. And if I did, let me ignore this call for payment.
So without consequence, probably if I delayed, they would become less pleasant. I am not afraid to be late with my loan repayment, because it comes with nice additional costs later.
And this applies to both banks and non-banking companies (parabanks). As far as I know, this is even done outside the APRC.
So all these collection penalties do not count towards the general costs. one time delay, everyone happens. it is known that there are various situations related to this, someone will go on vacation, on vacation, something will fall out, the negative consequences can be undone. it is important that this is not deliberate and notorious. then there will be no discounted tariff.
Installments are permanent
When installments are permanent and you know when the last installment will be, I recommend setting up a standing order. In principle, this functionality is standard in every bank.
Then you don’t have to remember anything, because the payments are made by themselves. The only thing is that you must have funds in your account.
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