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Penalty interest is now being asked for by lenders for overdue clients. Due to the loss that is suffered by companies due to late payments and bad personal debts, the ones who are paying are billed for the loss that is built up on these debts. The rate of interest that are computed are more that would have been billed typically on a typical payday loan. To keep the interest at a minimal degree, it is most ideal to obtain a short term financing with a budget friendly interest rate. These late payments have actually to be stated to the credit rating agency and can be shown in your credit report past.
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