Just just exactly What should take place aided by the final loan is that you ought to have only to settle the total amount you borrowed less any payments you earn to that particular loan. Some situations
Example 1 вЂ“ you’ve got currently compensated a whole lot to the defaulted loan
You need to be getting a reimbursement of ВЈ700 in the earlier loans. The last loan had been for ВЈ250, you’ve got currently compensated ВЈ280 and there’s nevertheless a stability of ВЈ90.
Than you borrowed on the last loan, it should be written off and the extra ВЈ30 you have paid to it is added to your refund as you have already paid more. And so the final loan is cleaned and you can get a reimbursement of ВЈ730.
Example 2 вЂ“ you have actuallynвЂ™t completely paid back the loan that is last
You need to be getting a reimbursement of ВЈ700 in the early in the day loans as well as the loan that is last for ВЈ250, but right right here you have got just paid back ВЈ100 and also the stability is ВЈ290.
Right Here you’ve kept to cover 250 вЂ“ 100 = ВЈ150 into the loan that is last repay most of the quantity you borrowed, without any interest. Therefore ВЈ150 of your reimbursement in the previous loans can be used to pay for this balance that is reduced. The effect could be the loan that is last cleaned and you will get a refund of ВЈ550.
Example 3 вЂ“ you have actuallynвЂ™t compensated almost anything towards the final loan
You need to be finding a reimbursement of ВЈ700 in the previous loans additionally the final loan ended up being for ВЈ250, you didnвЂ™t make any re re payments and also the stability happens to be ВЈ470 with a financial obligation collector.