Post ID 22645

(D) With respect to precomputed loans:

(1) Loans will probably be repayable in significantly equal and consecutive monthly payments of principal and interest combined, except that the first installment duration may go beyond a month by no more than fifteen times, therefore the very very first installment re payment quantity can be bigger than the residual re re payments by the quantity of interest charged for the extra times; and supplied further that month-to-month installment payment dates can be omitted to allow for borrowers with regular earnings. (more…)