What are the advantages of following a strict repayment schedule? Check all that apply. 1. It eliminates the need for secured credit. 2. It prevents additional fees from being charged. 3. It guarantees the borrower possible new loans. 4. It prevents some interest rate increases. 5. It shows that the borrower is responsible.
Added by Kyle P.
Step 1
Following a strict repayment schedule does not necessarily eliminate the need for secured credit, as secured credit can still be required depending on the borrower's credit history and the lender's requirements. So, this option is not correct. Show more…
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