Definition of «debt payments»

Debt payments refer to the regular installments made by a borrower to their lender in order to repay the loan they have taken. These payments typically include both interest and principal, with the goal of fully retiring the debt over time. The amount and frequency of these payments are usually specified in the original loan agreement, and failure to make them on time can result in late fees or other penalties. In summary, debt payments represent a borrower's obligation to repay their debt according to the terms agreed upon with the lender.

Sentences with «debt payments»

  • However, if you make your other monthly debt payments on time, it will not lower your score as much. (vahomeloancenters.org)
  • They must continue to freeze all interest and charges for a period of six weeks after a joint debt payment programme has been revoked. (nationaldebtline.org)
  • Both programs can be ideal for providing debt help, interest relief, and the consolidation of debt payments for people with bad credit. (mymoneycoach.ca)
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