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Post by Collateral Rep on Jan 4, 2018 16:29:10 GMT
Hi Forward , All interest due is paid on the first of each month, so the accrued interest on this loan will be paid on the 1st of February. When loans are repaid, we pay the capital immediately then any interest due on the first of the following month. Many thanks, Gordon
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ianj
Member of DD Central
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Post by ianj on Jan 4, 2018 18:44:00 GMT
All interest due is paid on the first of each month, so the accrued interest on this loan will be paid on the 1st of February. When loans are repaid, we pay the capital immediately then any interest due on the first of the following month. Not being personally aware of any notified change in policy, the above statement caused me to ponder.... a) the nature of the interest that was paid today with the capital repayment - if it wasn't 'accrued' what was it? b) if any interest due is paid on the following 1st of month, why was there no interest paid this week on BB00534, when the capital repayment was made on 19th Dec.? Well, probably because it was all paid on the 19th as well! So that's all crystal clear, isn't it? It would be possible to formulate more questions, but it would probably be more appropriate if there was official clarification rather than speculatation on my part.
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dp
Member of DD Central
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Post by dp on Jan 5, 2018 9:55:46 GMT
Hi Forward , All interest due is paid on the first of each month, so the accrued interest on this loan will be paid on the 1st of February. When loans are repaid, we pay the capital immediately then any interest due on the first of the following month. Many thanks, Gordon Look forward to the catch-up Interest on the 1st Feb.
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