What Happens When the Terms of a Loan Are Satisfied
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What happens when the terms of a loan are satisfied? The lender is paid back in full, and the borrower is no longer obligated to make any more payments.
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The Borrower Has Paid the Full Amount of the Loan
At the end of a loan’s term, the borrower has paid the full amount of the loan back to the lender, including any interest and fees. The borrower is now released from their debt and is no longer obligated to make payments on the loan. The loan has been satisfied and the borrower has fulfilled their obligations.
The borrower has made all of the required payments on the loan.
Once the borrower has made all of the required payments on the loan, the loan is considered to be paid in full. The borrower will no longer be responsible for making any payments on the loan, and the lender will not be able to collect any additional payments from the borrower.
The Borrower Has Paid the Remaining Balance of the Loan
The borrower has paid the remaining balance of the loan in full and the loan is now satisfied. The terms of the loan have been met and the loan is now closed. The borrower is no longer responsible for any payments on the loan and the lender will not have any further claims against the borrower.
The borrower has made all of the required payments on the loan, and the remaining balance has been paid in full.
The borrower has made all of the required payments on the loan, and the remaining balance has been paid in full. The terms of the loan have been satisfied, and the borrower is no longer obligated to make any further payments. The loan has been successfully repaid, and the account is now closed.
The Borrower Has Paid the Minimum Required Payment
All loans have terms that must be met by the borrower. When these terms are satisfied, the loan is said to be “paid as agreed.” This means that the borrower has made all of their required payments on time and in full. If the terms of a loan are not met, the borrower is said to be in “default.”
The borrower has made the minimum required payment on the loan.
On the Loan Agreement, the Parties have provided that the Borrower has paid the minimum required payment on the loan.
