DEFAULT INTEREST CHARGES AND DEFAULT FEES. We provide information on default interest charges in clause 5.1 of the General Terms. Default Fees are set out in the attached FEE SCHEDULE.
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default charges. In the event of a breach of this agreement or on the enforcement of this agreement, the default fees specified below are payable. The default rate is the rate per annum (expressed as a percentage) which is 3% above the annual interest rate (referred to above) or our default interest rate displayed on our website at xxx.xxxxxxxxxxxxxxx.xx.xx whichever is the higher. This is charged on any amount in arrears from the time you fail to make the due payment until the arrears are paid. The default fees are: • $10.00 if any payment you make to us is dishonoured. • $20.00 if we have to prepare and send you a repossession warning notice. • $60.00 if we have to prepare and send you a post repossession notice. • $35.00 if we engage a repossession agent. Note: There may be charges we incur if we engage third parties as a result of your breach under this agreement or if we enforce this agreement. These charges could include debt collection and repossession fees. These are in addition to the default fees listed above. Our General Terms allow us to change the default interest rate and default fees. FULL REPAYMENT If you pay the unpaid balance in full before the final payment is due (“full prepayment”), you may be required to pay a fee or charge to compensate us for any loss resulting from the full prepayment. We may have suffered a loss if our current interest rate is lower than the interest rate applying to your original agreement. You may also have to pay our administrative costs relating to the full prepayment. The amount you may have to pay to compensate us for the loss is calculated using the formula prescribed in regulation 9 of the Credit Contracts and Consumer Finance Regulations 2004. Administrative costs $35.00 for processing the full prepayment. Our General Terms allows us to change the amount of this charge. RIGHT TO CANCEL You are entitled to cancel this agreement by giving notice to us. Time limits for cancellation If this agreement is handed to you directly you must give notice that you intend to cancel within 5 working days after you receive this agreement. If this agreement is sent to you by electronic means (for example, email) you must give notice that you intend to cancel within 7 working days after the electronic communication is sent. If this agreement was mailed to you, you must give the notice within 9 working days after it was posted. Saturdays, ...
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default charges. In the event of a breach of this agreement or on the enforcement of this agreement, the default fees specified below are payable. The default rate is the rate per annum (expressed as a percentage) which is 3% above the annual interest rate (referred to above) or our default interest rate displayed on our website at xxx.xxxxxxxxxxxxxxx.xx.xx whichever is the higher. This is charged on any amount you owe us under this agreement that has not been paid from the time you fail to make the payment until the payment is made. It is also charged on the amount of the Residual Value referred to above if you do not return the Vehicle when this lease ends, whether on or before the End Date. The default fees are: • $10.00 if any payment you make to us is dishonoured. • $20.00 if we have to prepare and send you a repossession warning notice. • $60.00 if we have to prepare and send you a post repossession notice. • $35.00 if we engage a repossession agent. Note: There may be charges we incur if we engage third parties as a result of your breach under this agreement or if we enforce this agreement. These charges could include debt collection and repossession fees. These are in addition to the default fees listed above. Our General Terms allow us to change the default interest rate and default fees.
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of any default in payment and while the default continues you must pay the default interest charges. In the event of any breach of the contract or on enforcement of the contract, the default fees specified below are payable. Default interest is 36% per annum and is charged on the unpaid balance from the time that you fall into financial default, until you are no longer in financial default and calculated by multiplying the unpaid balance by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is charged to your account monthly. Your credit contract may allow the creditor to vary these fees and charges. Default interest charges and fees
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, the following default fees are payable: • A home visit fee of $30.00 may be charged if we deem it necessary to visit you in person at your home or place of work in relation to a missed payment(s) or to any other default you commit under this agreement. This will be charged at the time of the home or work visit. • In the case of enforcement, including Court or Disputes Tribunal proceedings and seizure and sale, we will charge to your account all actual court and tribunal costs and actual solicitors fees and disbursements (assessed on a solicitor client basis) and actual debt collection agency fees and disbursements and the actual costs and disbursements of valuers, auctioneers, process servers and any agents of the lender in effecting such enforcement plus any other necessary disbursements as those costs are ascertained. These will be charged to your account in the month they are incurred by us. Default interest is charged from the time you fail to make a due payment until the arrears are paid. Default interest charges are calculated by multiplying the amount of arrears at the end of the day by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. Default interest is charged to your account on the last day of the month. Annual Default Interest rate is FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment) the Lender reserves the right to charge you an early repayment fee to compensate the Lender for any loss resulting from full prepayment, in accordance with section 43 of the Credit Contracts and Consumer Finance Xxx 0000 (“the Act”). The early repayment fee is calculated as 30 days interest at the Annual Interest Rate less 9.5% (being the Lender’s savings for its funding costs) on the outstanding principal balance of the loan at the date of repayment. This procedure can be expressed as the following formula: ERF = PB x (AIR – 9.5) x 30 1 100 365 Where: ERF means early repayment fee PB equals the principal balance of the loan at the date of repayment.
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default charges. In the event of a breach of this agreement or on the enforcement of this agreement, the default fees specified below are payable. The default rate is the rate per annum (expressed as a percentage) which is our default interest rate displayed on our website at xxx.xxxxxxxxxxxxxxx.xx.xx at the time of default. This is charged on any amount in arrears from the time you fail to make due payment until the arrears are paid. The default fees are: • $10.00 if any payment you make to us is dishonoured. • $35.00 if we engage a repossession agent to retake possession of the Vehicle. Note: There may be charges we incur if we engage third parties as a result of your breach under this agreement or if we enforce this agreement. These charges could include debt collection and repossession fees. These are in addition to the default fees listed above. Our General Terms allow us to change the default interest rate and default fees.
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment, and while the default continues, you must pay the default interest charges. Additionally in the event of any default (including a default in payment) you must pay the applicable fees set out below. Default interest of ###% per annum is charged on any overdue amount until such overdue amount is fully paid. Default interest is calculated on a daily basis by dividing the per annum default interest rate by 365 and applying that rate to the overdue amount every day. Default interest is added to your loan at the same time and frequency as specified in the ‘Interest’ section above and will then form part of the unpaid balance owing under this Loan Agreement. Default interest is in addition to the annual interest rate specified in the ‘Interest’ section above. The following default fees shall be added to the unpaid balance owing under this Loan Agreement on the day the event triggering such fee occurs: Default fee type Fee per default Default fee type Fee per default Each failed payment $##.## Each reminder letter $##.## If we engage a collection agent $##.## If we lodge your default with a credit agency $##.## If we serve a Wage Deduction Authority on your employer $##.## In addition, actual collection and legal costs incurred (not exceeding a reasonable amount) in collecting any overdue amounts, which shall be added to the principal owing under this Loan Agreement no earlier than the day we incur such costs. The above specifies the fees, additional interest charges and collection & legal costs that may be incurred should you default. Other actions we may take in the event of a default are set out on the remaining pages of this Loan Agreement.
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, the default fees specified below are payable. Your credit contract may allow the lender to vary these fees and charges. Default interest. Default interest is 34.00% per annum when charged on any overdue instalment or overdue amount. Default interest is charged from the time that you fall into financial default until you are no longer in financial default. It is calculated by multiplying the overdue instalment or overdue amount by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365. All default interest is debited to your account Weekly. If we accelerate payment of the unpaid balance, we will charge default interest only on that part of the unpaid balance that is overdue other than as a result of the acceleration. Default fees.
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default interest charges. In the event of a breach of the contract or on the enforcement of the contract, the default fees specified below are payable. Your credit contract may allow the creditor to vary these fees and charges. Default interest is charged from the time you fail to make a due payment until the arrears are paid. Default interest charges are calculated by multiplying the amount of arrears at the end of the day by the daily default interest rate. The daily default interest rate is calculated by dividing the annual default interest rate by 365 Interest is charged to your account on the last day of the month. Annual Default Interest rate is FULL PREPAYMENT If you pay the unpaid balance in full before the final payment is due (full prepayment) the Lender reserves the right to charge you:
DEFAULT INTEREST CHARGES AND DEFAULT FEES. In the event of a default in payment and while the default continues you must pay the default interest charges. Default interest is payable in accordance with clause 22 in the supplied Terms and Conditions at the greater rate of F + 5% per annum and 28% per annum where "F" = the Annual Interest Rate shown above. In the event of a breach of this Agreement or on the enforcement of the Agreement, the default fees specified below are also payable. FNL may vary these fees and charges. Dishonoured payment - $5 Written correspondence - $10 in each case CONTINUING DISCLOSURE FNL is required to provide you with regular statements. The statements will give you information about your account. Statements will be provided 6 monthly by way of post or email.
