Delinquent payments Washington

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    What information is stored in credit information archives?

    There are two types of information related to your loan: positive and negative records. Both of these are included in the Credit Information Archive to reveal your creditworthiness.

    Note that not all negative information is true, so you should be aware that:


    •     Banks are required by law to notify clients of their recognition as debtors 15 days in advance. This obligation serves to prevent erroneous entries and to clarify the financial status of the user, as well as to provide time for the repayment of the debt;
    • Available information is automatically deleted from the report provided by the bank after several years;
    • Financial institutions look not only at delinquent debt, but also at its amount and days past due, the category of the delinquent loan, etc.