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hi, my father got a lon with our property as collateral..the interest is 6% a month.after a year, problems arises in our family, the business got bankcrupt and so we were not able to pay the interests..but last april we were able to pay partial amount for the interest. and now we wanted to pay the principal and our unpaid interests but the creditor wants us to pay triple times of the principal because of the penalties the interest accumulated.. just want to ask if its possible not to pay the penalties?
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