When delay damages? Things to note in the structure and maturity [masterpieces of caching:

What is delayed damage? Is it different from interest? When borrowing from a financial company, the repayment date is always decided.
In the event of a failure to pay the due date, the damages payable to the creditor are called “delayed damages” when the debt is defaulted.
Interest is set up when borrowing, but delays that may be referred to as deferred interest or overdue interest are incurred after the repayment period.
Both are set to a certain interest rate, but the content is different.
How do I calculate the delay damage? Is there a repayment date? Deferred damages are generally stated to pay several times the rate of a contract.
There is an interest limit law in Japan, and there is a limit to the delay damage.
As a result, the limit rate of 1.46 is the limit, and no more charges will be valid.
If you have a 20% annual interest rate of less than 100,000 yen, 20% × 1.46 = 29.2% is the limit for delayed damage.
The repayment date is a good day when you set up a monetary balance, and the delay damages occur if it is too much for one day.
In the case of installments, however, the principle is that only overdue minutes of the due date of payment are subject to deferred damages.
But some financial companies will link the term profit-loss terms and delay damages to unify the deferred damages to the full amount when they are delayed from the repayment date.
It is important to read and understand the terms properly.
When the repayment is likely to be delayed, let’s consult the financial company first to avoid the delay damage.
If you find that the repayment is likely to be delayed in advance, it is recommended that you call the financial company first.
Depending on your financial company, you may be able to change your payment date by contacting us by phone in advance.
If you change the repayment date, there will be no delay damage to that date.
And, it is important to show sincerity to the financial company by paying even a little even if the full amount is unreasonable.
If you pay only for interest, it’s not too hard to get a loan from a financial company.
The fact that the delayed damage is incurred and paid is not immediately registered as a financial accident to the personal information Agency, but two to three months overdue, it becomes an accident treatment.
Make sure to call in advance to avoid such a situation.
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