As long as no charge is over one year overdue Finance will not take any enforcement action. An installment agreement will not have any affect on how much you owe. By law, interest is charged regardless of whether the property owner received a bill. If a mortgage company or other third party failed to make payment on time, the property owner must deal directly with that party. Attempting to pay merely the principle will not affect the continued accumulation of interest, and your property will remain in arrears.
Interest is compounded daily.
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