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Glossary

Arrears

"Arrears" refers to the amount of unpaid instalments, usually together with any fees and charges incurred as a result of being behind with payments, on an account where the borrower has fallen behind with the normal monthly repayments on a loan.
Arrears are usually subject to interest, and fees are also often incurred as a result of not keeping up to date with monthly instalments.

Lenders can usually help find a way of getting payments up to date if the borrower contacts the lender to discuss any difficulties as soon as possible.

UK Financials Ltd is not a lender and do not lend any money. We provide lenders information only service to the consumer who are looking for a loan.

Think Carefully Before Securing Other Debts Against Your Home. Your Home May Be Repossessed if You Do Not Keep Up Repayments On A Mortgage Or Other Debt Secured On It.