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Demand off – It is a charge card credit card debt or loan that's written off as getting uncollectible from the borrower. This sometimes is the case once the loan has actually been marketed or specified the credit card debt to some collection agency. This credit card debt stays collectable.
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Interest charge – A price that a lender will charge borrowers so as to borrow cash from them. It can be expressed in percentage % for every annum.
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Repossess – The voluntary or forced surrender of things in the case of the purchaser’s failure to pay for back again a loan.
Lease – That is a lawful contract which lets a consumer to employ some asset just like a vehicle for payment. The asset ought to be returned after the lease time period ends.