While it was outlawed in 1992 for loans for a longer period than 61 months, some lenders continue to use this follow. It’s greatly considered as unfair to borrowers who may perhaps commit to pay off their loans early to economize on interest.
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‘It’s like you’re ranging from scratch&rsquo
After the recognition of the impairment decline, the depreciation (amortisation) charge for your asset shall be altered in foreseeable future intervals to allocate the asset’s revised carrying total, much less its residual benefit (if any), on a systematic basis more than its remaining useful
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