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- Arrears - |
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In terms of loan repayment or paying off a credit card, arrears are payments that are not made on the agreed date. If you don't have enough money in your bank account the day a standing order on a loan is due to go out, you will also accumulate arrears. If it happens only now and again, it is unlikely that it will have too negative an impact on your credit score, but repeatedly missing payments will start to affect your future chances of getting credit or put limits on the amount or conditions of the loan. It is therefore best to avoid arrears when possible.
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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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| Think carefully before securing other debts against your home. Your home may be reposessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home. |
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