Arrears

Kuflink's Arrears Definition

A loan is in arrears the day after an agreed payment has been missed and this status will continue for 1 calendar month, assuming the payment remains outstanding. This may be a monthly servicing payment or the full repayment of the loan at the end of the term.

Whilst in arrears, Kuflink will engage with the borrower to understand why the payment has been missed and work with them to find a way to either make the payment or agree an alternative way forward. You will continue being paid interest until the loan is repaid.