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Why a payment problem and an accounting dispute should be separated
One borrower may be unable to pay the stated balance, while another believes the balance is wrong.
Those situations can coexist but require different evidence and processes.
A clear contact distinguishes the calculation question from a support request. It also avoids assuming that lodging a dispute automatically changes when money is due.
Compare secured and unsecured structures
Definitions
- Nominal interest rate
- Stated rate used to calculate interest under the agreement; it does not describe every other charge.
- Annual comparison measure
- Annualized disclosure used to compare borrowing costs; its calculation and included charges depend on the jurisdiction and product.