Remaining monthly balance

Remaining monthly balance,

Definition of Remaining monthly balance:

  1. Balance that has not been paid in full for a given month. If Bill only pays $250 of his $300 car payment, he will have a remaining balance of $50 for that month. In most cases, if a monthly balance is not paid in full by a specific due date, the balance is forwarded to the next billing month and may result in late fees being added to the new balance as well.

Meaning of Remaining monthly balance & Remaining monthly balance Definition