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Interst overdue? Principal overdue? |
Can someone explain what it means? there are from a bank receipt. I want details to understand... THANK YOU! xtowgrunt is correct. You missed a payment. I'll elaborate a little bit for you. When you take out a loan, every payment you agree to make toward that loan pays off part of the principal and all of the interest due for that period. However, you will incur more interest by the time the next payment is due. That amount of interest will be less than the previous period because your principal will be less (remember you paid part of it last time). As you progress through your payment plan, more and more of your payment goes toward the principal and less and less goes to interest. When you have finally paid off the principal in full, you have paid off the loan. If you need more of an explanation, click on my name and send me an e-mail. It means you missed a payment. Bella Avatar!! |
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