Understanding your loan status is key to managing financial obligations and anticipating future steps. Here's a detailed look at each status:

Current

A "Current" status means the borrower is up-to-date with monthly payments. This applies if payments are timely or if the first due date hasn't arrived according to the loan schedule.

Extended (n)

Loans with the BuyBack Guarantee: Here, the borrower extends the loan by paying interest as per the schedule, up to six times. A seventh extension triggers the BuyBack Guarantee, causing repurchase from investors. The number in brackets shows the extension count.

Loans with the Payment Guarantee: The "Extended" status doesn't apply to these loans.

Ventures Loans: Borrowers can extend loans twice, each extension lasting up to 12 months.

Refinanced (n)

Loans with the BuyBack Guarantee: A borrower can refinance by paying interest per schedule, up to six times. A seventh refinance triggers repurchase via the BuyBack Guarantee. The bracket number indicates refinance occurrences.

Loans with the Payment Guarantee: "Refinanced" status isn't applicable.

Ventures Loans: The "Refinanced" status doesn't apply to these loans.

Delayed

Loans with the BuyBack Guarantee: "Delayed" means late repayment but scheduled interest is paid. If overdue exceeds 60 days, the BuyBack Guarantee triggers, leading to loan repurchase covering principal and interest.

Loans with the Payment Guarantee: "Delayed" if a borrower is late 1-60 days. Payments of interest and principal follow the loan schedule.

Ventures Loans: "Delayed" if repayment is overdue by 1-60 days.

Defaulted

Loans with the BuyBack Guarantee: This status doesn't exist. Loans overdue by 60+ days are repurchased with full compensation for principal and earned interest.

Loans with the Payment Guarantee: Overdue by 60+ days marks "Defaulted," triggering:

• Repurchase by TWINO, ensuring repayments.
• Loan collection goes to external debt agencies or immediate sale.

Defaulted loans can't be sold in the secondary market.

Ventures Loans: Marks "Defaulted" if overdue by 60+ days. Triggers repurchase by TWINO for EUR 0.01, with collection proceeds transferred to third parties. Cannot be sold on the secondary market.

The Importance of Understanding Loan Statuses

Being informed about loan status aids in:

• Financial Planning: Better organizes your finances.
• Credit Score Management: Ensures timely payments for good credit scores.
• Avoiding Penalties: Helps prevent late fees and additional charges.
• Negotiating Terms: If you know your status, you can seek better terms.
• Investment Decisions: Allows investors to make informed choices.

Conclusion

Familiarity with loan statuses—Current to Defaulted—is crucial for borrowers and investors. Each status affects financial planning, credit standing, and financial health. Staying updated facilitates effective management, penalty avoidance, and smoother repayment processes. Whether handling personal payments or investments, knowing these statuses empowers you to navigate the financial landscape confidently.