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31 January, 15:35

What could be a good option available to you if you are behind on loan payments?

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  1. 31 January, 15:50
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    The financial institution might offer the person to pay a little amount now and pay the remaining amount after the next pay day.

    Explanation:

    Loan amount is the amount which could have a effect on the aggregate amount the person eventually pay on the loan.

    In short, the loan payment comprise of the interest payment, which is considered as an expense. The principal payment, that reduces principal balance of the loan.

    The best option which is available for the person who is behind the loan payments that the financial institution may offer the person to pay a little amount of the loan and the remaining amount to pay after the next pay day.
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