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What are the advantages of following a strict repayment schedule? Check all that apply.

It eliminates the need for secured credit.
It prevents additional fees from being charged.
It guarantees the borrower possible new loans.
It prevents some interest rate increases.
It shows that the borrower is responsible.

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salemnapier212

It prevents additional fees from being charged.

It prevents some interest rate increases.

It shows that the borrower is responsible.

Hope this helps!

Tundexi

The advantages of a strict repayment schedule are:

  • prevents additional fees from being charged
  • prevents interest rate increases.
  • shows the borrower is responsible.

What is a strict repayment schedule?

This means a strict personal schedule adopted by a borrower in repaying his/her loan back to creditors (lender).

This action prevents additional fees from being charged, prevents interest rate increases and shows the borrower is responsible.

Therefore, the Option B, D and E is correct.

Read more about repayment schedule

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