15:55 May 26, 2016 |
Hungarian to English translations [PRO] Bus/Financial - Finance (general) | |||||||
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| Selected response from: András Veszelka Local time: 13:24 | ||||||
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3 +2 | loan without default |
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loan without default Explanation: Default is the failure to promptly pay interest or principal when due. Default occurs when a debtor is unable to meet the legal obligation of debt repayment. Borrowers may default when they are unable to make the required payment or are unwilling to honor the debt. http://www.investopedia.com/terms/d/default2.asp Client must have repaid the previous loan without default. http://www.myc4.com/Invest/Providers/View/40291/Products/389 The point of the modification agreement is that the borrower can repay the loan without default, and the lender or the bank avoids the hassle of taking legal action. http://www.warreninfinance.com/9229/getting-the-most-advanta... Here, there is advantage for students working in public sector as they are entitled to loan forgiveness after paying the loan without default for 10-years. https://studentdebtcenter.wordpress.com/ |
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