Illustration of spending lower than the sum total due when one loan is present plus one loan is overdue: an individual has two loans – one loan is present and something loan is overdue and makes a $200 re re re payment:
an individual has two loans – one loan is present and something loan is overdue and makes a $200 re re re payment:
|Loan A||Loan B|
|October 15 date that is due125 amount past due 1|
|November 15 due date||$50 present re re payment quantity due 2||$125 present re re re payment quantity due 3|
|Total due on November 15th
||$300 total due|
The $200 re re payment gotten by November 15 are going to be distributed into the after order:
- 1 Loan B – $125 distributed to your quantity overdue, since the loan is considered the most times overdue.
- 2 Loan A – $50 distributed towards the present repayment quantity due, because both loans are actually current and Loan a gets the cheapest present re payment quantity due.
- 3 Loan B – $25 distributed to your current repayment quantity due.
Loan an is supposed to be present before the next date that is due of 15 and won’t be reported towards the customer reporting agencies as delinquent.
Loan B has $100 remaining due, may be overdue if no further repayments are gotten, and:
- Extra interest will accrue leading to a higher cost that is total of the mortgage. (observe how does the date my re re re payment is gotten effect my loan)
- The mortgage might be reported towards the customer reporting agencies as delinquent.…