Delinquent payments Washington
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Calculation Example:
Example: A loan of $100,000 at a 10% annual interest rate over 12 months results in a total repayment of $105,499.06, with monthly installments of approximately $8,791.59.
Disclaimer: All financing terms are subject to applicable U.S. regulations. Borrowers are advised to carefully review all agreements and understand their responsibilities before accepting any offer.
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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.