Penalty fees start to accumulate when the loan surpasses the grace period. The penalty fees are received when the asset is repaid. Investors do not receive the penalty fees if the asset was bought back or if the asset was repaid during the grace period.
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When do I receive penalty fees?
Articles in this category
- What are the loyalty services?
- When do I receive penalty fees?
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- What is a penalty fee?
- Will I continue to get interest if a loan is late?
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- What happens if a borrower decides to pay back earlier? See more