what are the advantages of following a strict repayment schedule? check all that apply.\nit eliminates the…

what are the advantages of following a strict repayment schedule? check all that apply.\nit eliminates the need for secured credit.\nit prevents additional fees from being charged.\nit guarantees the borrower possible new loans.\nit prevents some interest rate increases.\nit shows that the borrower is responsible.

what are the advantages of following a strict repayment schedule? check all that apply.\nit eliminates the need for secured credit.\nit prevents additional fees from being charged.\nit guarantees the borrower possible new loans.\nit prevents some interest rate increases.\nit shows that the borrower is responsible.

Answer

Brief Explanations:

  • Paying on - time avoids late - payment fees, so it prevents additional fees.
  • Some lenders may adjust rates based on payment history, timely payments can prevent rate hikes.
  • Consistent and timely payments reflect a responsible borrower.
  • Following a repayment schedule doesn't eliminate the need for secured credit. Also, it doesn't guarantee new loans.

Answer:

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