Terms: Duration and Frequency
Contract terms influence how payments and delinquency are interpreted.
Updated 8/14/2025 · 1 min read
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Closed-end vs. open
Closed-end loans use a month count for duration, while lines and revolving products use constants indicating ongoing credit. Frequency must match billing (e.g., monthly, biweekly) to avoid false delinquency signals.
Map to billing
Ensure the reported frequency matches actual billing to prevent current accounts from appearing late due to expected-but-absent payments.
Last updated
8/14/2025