Loan repayment is affected by a lot of factors, what are they?How do economic factors, such as interest rate changes or economic downturns, impact loan availability and repayment strategies?
What are the factors that affect loan repayment?
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Income of the debtor can affect loan repayment severely, if you're owed loan and you can't pay because you have a low income it's a real factor when it comes to repayment. If you have a plan for repayment with a debtor then you'd have to re-plan all over because he can't pay due to low income. HighRead more
Income of the debtor can affect loan repayment severely, if you’re owed loan and you can’t pay because you have a low income it’s a real factor when it comes to repayment.
If you have a plan for repayment with a debtor then you’d have to re-plan all over because he can’t pay due to low income.
High interest rate is another factor that can make loan repayment tedious for a debtor.
I think it’s important to consider all of this factors before giving out a loan to anyone and have a plan for repayment.
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