The essence of the contract of installments is that the consumer undertakes to repay the existing debt taking into account the current payments for a certain time by paying it in equal parts or on an agreed schedule.
From the essence of this agreement comes timely repayment of current accruals, otherwise, the debt instead of reduction will increase.
Such contracts are voluntary and their conclusion is taken into account in the system. Each month, the planned balance of the debt is calculated which must be in accordance with the contract. Reports on the course of debt repayment are provided. Information on an individual consumer is available to the debtor personally if it is registered in the personal account on the site of the enterprise, as well as employees of the enterprise working with debtors.
