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What is the "Minimum Percentage"
What is the "Minimum Percentage"

Read this article to understand the "Minimum Percentage" on the proposal

DeWayne Gibson avatar
Written by DeWayne Gibson
Updated over a week ago

It simply is there as a statement for when the company does a 'same as cash' deal.  And there is some base percentage to calculate a rolling minimum payment.  Usually this minimum payment is based on the current balance.  Therefore it is difficult to publish, or give an exact dollar amount.  So the program does not post that payment amount to the proposal.  

If the principle was 10,000 and the minimum monthly percentage was 1%, then the minimum payment would be $100.  

As you see below the payment is always based off of the higher amount.  And the statement of 1% minimum payment is all that it is.  A statement.  

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