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Is there any grace period for a personal loan?

Date: Mon, 02/04/2019 - 22:18

Submitted by Harry.kots
on Mon, 02/04/2019 - 22:18

Posts: Credits: [Donate]

Total Replies: 4


Is there any grace period for a personal loan? Is it mentioned in the agreement or it is a verbal agreement


Usually, the creditors don't report it if you make the payments within 2-3 days time. But, that also depends on the creditor if it's not mentioned in the loan agreement.
So, it is always better to make the required payments within the time.


lrhall41

Submitted by Craigh.terry on Tue, 02/05/2019 - 23:19

( Posts: 273 | Credits: )


Check out the loan agreement. If there is a grace period on your loan, then it will be mentioned there. For instance, if the grace period on your personal loan is 15 days, then you won't be charged a late fee if you make payments during this time. It wouldn't be reported on credit report also.


lrhall41

Submitted by ditchdebt on Tue, 02/05/2019 - 22:44

( Posts: 675 | Credits: )


Did you make any agreement? If yes, then the grace period should be mentioned there (If any). You can also ask the lender regarding it. It is advisable to ask about it before taking out the loan.


lrhall41

Submitted by Sanders Patricia on Fri, 02/08/2019 - 05:09

( Posts: 1241 | Credits: )