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A cost disclosure and a default scenario answer different questions
A comparison measure typically follows defined assumptions.
Charges triggered by a missed payment or another event require their own reading instead of being silently assumed included.
Separating ordinary schedule and adverse scenario prevents a single precise percentage from appearing comprehensive. Neither scenario predicts the borrower's behavior; each explains a different part of the contract.
Work through the repayment planning guide
Definitions
- Arrears
- Amounts due under an agreement that have not been paid, subject to the account's actual calculation.
- Repayment arrangement
- Proposed or agreed change in payment handling whose duration, costs and other effects need written confirmation.