Consequences of being overdue. 9.1 If any amount due is not paid on time, Ferratum will be entitled to charge the Customer the default interest as per the Specific Terms on any outstanding amounts. Furthermore, the Customer is obliged to reimburse Ferratum any collection charges due to an overdue payment as provided in the then current legislation on the collection of consumer debt.
Consequences of being overdue. 9.1 If any amount due is not paid on time, Ferratum will be entitled to charge the Customer the default interest as per the Specific Terms on any outstanding amounts. Furthermore, the Customer is obliged to reimburse Ferratum any collection charges due to an overdue payment as provided in the then current legislation on the collection of consumer debt.
9.2 If any repayment or part thereof is delayed by at least one month and is still unpaid, Ferratum shall have the right to call the full Credit together with all other amounts due under the Credit Agreement as due and payable. In case of such recall, the Customer shall have the right to pay the delayed amount within four weeks from notice and if the Customer has been previously notified about the delay, two weeks from notice, in which case the recall shall lapse. If the Customer fails to act accordingly, the Customer shall be required to repay the full Credit, inclusive of interest, fees and expenses, in a single instalment after the passage of time mentioned above (four weeks/two weeks), at which point the Credit Agreement terminates.
9.3 Ferratum’s right to recall shall not apply if the delay in payment is attributable to the Customer’s illness, unemployment or similar reason beyond the Customer’s control unless waiving the recall would be manifestly unreasonable for Ferratum in view of the duration of the delay and other relevant circumstances. Any such social bar to performance must be promptly reported to Ferratum in writing. The notice must be accompanied by documents as proof of the existence of such a bar to performance.
9.4 The Total Amount Due falls due for repayment immediately if the Customer becomes insolvent (is declared bankrupt)