However, if
your creditor agrees to change your payment date, the terms of your original contract may not apply any longer.
Not exact matches
There is no guarantee, but in some cases
creditors agree to reduce interest rates,
change the payment terms, or reduce fees.
If your
creditor agrees to such a
change, make sure you have it in writing.
Make sure the
creditor agrees in writing
to change your credit reference file details
to show that the balance has been paid and the date this happened.
«Amended Proposals» are proposals where the
creditors requested amended terms (generally more money), and after the debtor
agreed to the
changes the proposal was accepted.
Other
creditors may
agree to change the terms of the home mortgage by lengthening the repayment period
to lower the every month amount due on your payment.
Sometimes, the
creditor might
agree to change your original contract.
However, if your
creditor did
agree to accept a late payment or
to change your payment date, then the terms of your original contract may no longer apply.
You don't lose your assets and once the
creditors agree to your proposal, your payment remains fixed even if your income
changes.
This is the best way
to prove that a settlement figure was
agreed on should the
creditor change their minds.
Proposed § 1026.19 (f)(2)(i), would have provided that if the consumer and the seller
agree to make
changes to the transaction that affect items previously disclosed, the
creditor shall deliver revised disclosures reflecting such
changes at or before consummation.