In the list of credits, you can see a variety of statuses of credits. To better understand them, MONEYZEN offers explanations for them.
Zen – means that the borrower has fulfilled all obligations arising from the loan agreement on time.
Zen-1 – means that 1 installment has not been paid on time under the loan agreement (incl. Partially)
Zen-2 (… and so on) – means that there are 2 installments overdue under the loan agreement (incl. Partially)
Debt collection – covers loan agreements from 90 day overdue until the termination of the agreement by MONEYZEN for non-payment.
Legal action – means that the debtor has been the subject of a recovery action, including transfer to court and / or the initiation of enforcement proceedings or the conclusion of a payment schedule with the debtor, either as a judicial compromise or on the basis of a court decision, in some cases out of court.
Repaid – the loan has been repaid according to the loan agreement.
Resolved early – the loan has been repaid before the due date according to the agreement.
Resolved Withdrawn – the borrower has withdrawn from the loan agreement and repaid the loan.
Resolved Legal action – the borrower has entered the status of legal action and as a result of this the loan has been repaid.