What's the difference between contracts and loans?

Overview

A contract is specifically for customers who are constantly included on the delinquent list and shufoff list. They have a large amount of money that they are not paying off the balance, and then they are charged fees for the unpaid balance, and now they are more behind on their payments.

Using a contract helps the organization collect the unpaid amount and helps the customer work out a reasonable payment plan.

A loan is used more often than not for a tap loan. The city is going to loan the customer the money because the city knows the customer cannot afford it. The city sets up a loan and loan service.

What's the difference between contracts and loans?

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