Acceptable Reasons For Late Payments

Reason: The reason for the late payment and financial hardships that you have been suffering in the recent past should be included in the letter. Giving a complete, honest, and transparent account of facts is always helpful, and if the lender is a private lender, he might not even report the.

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For any payment, there is no acceptable reason for a late payment outside the borders of the contract from which the payment arises. You have called the category "debt". If it is something else like child support put it there and ask.

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 · RE :Good Reasons for Late Payments? I’m working with a lender to try to get a home loan. I was late on my student loan payments. My real estate agent said that if I have a good reason for being late, I’ll have a better chance at being approved. what’s a good reason.

Reasons: Some businesses pay late because of their sales, receivables and inventory cycles, or operational practices that are customary in their industry. Some industries are natural headaches for receivables management, infamous for the notorious delinquency rates (such as construction and building supplies, manufacturing, wholesale distribution.

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The reasons for hardship withdrawals from 401(k) plans are not as clear-cut as they might seem. So requiring and retaining proof of the hardship — such as participants’ late-payment notices and.

The UK Top 10 excuses for late payment – Tim explains: "Moving accounts to a new bank could be a genuine reason for a delay in payment of a few days, anything more is just another excuse for late payment." So there you are. The top ten most common excuses used by UK companies to explain late payment.

If you’re delivering services on time to your clients, it can be frustrating to be met with excuses for late payment, which typically fall into one of four categories: systems error, supply chain, company crisis or dispute.

Consumers end up making late payments on their bills for a variety of reasons. Unemployment, medical expenses, accidents and other unexpected circumstances can quickly turn a person’s financial status from stable to uncertain.