How to calculate delay pay

The delay of payment is a concept associated with the sphere of lending, retail and wholesale trade. This is the transfer of debt repayment dates for a later date. Sometimes there are situations in life when it is necessary to take advantage of the payment of payment and it is important to know how to calculate it.

If the installment takes the goods on the promotion, the supplier can remove the percentage of the discount on the action. Then give money will have to later, but in full. In this case, there is a formula for calculating the profitability criterion. And it is quite simple. Cost of delay \u003d number of days of delay / 360 * Annual% on the loan * The cost of the transaction.

In the case when you have a loan and, due to certain circumstances, you cannot make the necessary payments in time, then you need to learn a loan agreement. Often in the contract you can find an item in which it is agreed that payments can be suspended for a certain time. In other words, this is credit holidays. However, at the end of the credit holidays, the cost of loan payments will increase. It is worth considering when calculating the deferred payment.

If the loan agreement does not provide for credit holidays, then you can write a letter to the address of the financial institution asking for a loan restructuring. For this, except for the request for a deferment, changing the amount of payments or extending the payout period, you need to attach a document confirming the difficult financial situation. For example: certificate from the place of work, a certificate of illness or a change in family circumstances.

It happens that the borrower independently suits his credit holidays, not warning bank employees. At the same time he believes that this is a delay of payment. But in this case, it is rather ancient payment that is threatened by an increase in loan payments for violation of obligations or a fine, as well as transferring a case to court. Therefore, it is desirable not to bring the situation to such a risky business.

Deferred payment on the loan or when buying a product is most often not beneficial for the borrower. At the same time, this fact negatively affects the human credit history, which can spoil his relationship with the bank.