Common use of Consequences of being overdue Clause in Contracts

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) or dies. 9.5 If Ferratum has the right to recall the Credit but does not invoke the basis for recall immediately when it comes to its attention, this does not constitute a waiver of Ferratum’s right to invoke such grounds and recall the Credit at a later date. 9.6 If any amount has been overdue for more than 60 days, Ferratum shall have the right to report and register the Customer in debt registers/databases containing credit histories of debtors provided that a past-due notice is sent to the Customer in writing at least 21 days before the disclosure of information to the credit information register. Such past due notice shall include information on the possibility of such disclosure in case the default continues and the conditions regulating the retention of payment default information. 9.7 If the Customer is late in payment by more than 14 days, Ferratum shall have the right to send a past due notice to the Customer and charge an administrative fee for the amount specified in the List of Fees for such service, which fee shall fall due and be payable within [2] working days from when Ferratum sends such a past due notice to the Customer. 9.8 Ferratum shall also be entitled to claim compensation of all actual additional damages, expenses and costs incurred in collecting overdue amounts, including the recovery of payments made through debt collectors, provided that in the latter case the amount charged to the Customer shall not exceed the highest amount allowed by the then current legislation. The Customer agrees that such amount shall be collected directly from him or her through debt collectors without the requirement of court or judicial intervention.

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) or dies. 9.5 If Ferratum has the right to recall the Credit but does not invoke the basis for recall immediately when it comes to its attention, this does not constitute a waiver of Ferratum’s right to invoke such grounds and recall the Credit at a later date. 9.6 If any amount has been overdue for more than 60 days, Ferratum shall have the right to report and register the Customer in debt registers/databases containing credit histories of debtors provided that a past-due notice is sent to the Customer in writing at least 21 days before the disclosure of information to the credit information register. Such past due notice shall include information on the possibility of such disclosure in case the default continues and the conditions regulating the retention of payment default information. 9.7 If the Customer is late in payment by more than 14 days, Ferratum shall have the right to send a past due notice to the Customer and charge an administrative fee for the amount specified in the List of Fees for such service, which fee shall fall due and be payable within [2] working days from when Ferratum sends such a past due notice to the Customer.shall 9.8 Ferratum shall also be entitled to claim compensation of all actual additional damages, expenses and costs incurred in collecting overdue amounts, including the recovery of payments made through debt collectors, provided that in the latter case the amount charged to the Customer shall not exceed the highest amount allowed by the then current legislation. The Customer agrees that such amount shall be collected directly from him or her through debt collectors without the requirement of court or judicial intervention.

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 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) or dies. 9.5 If Ferratum has the right to recall the Credit but does not invoke the basis for recall immediately when it comes to its attention, this does not constitute a waiver of Ferratum’s right to invoke such grounds and recall the Credit at a later date. 9.6 If any amount has been overdue for more than 60 days, Ferratum shall have the right to report and register the Customer in debt registers/databases containing credit histories of debtors provided that a past-due notice is sent to the Customer in writing at least 21 days before the disclosure of information to the credit information register. Such past due notice shall include information on the possibility of such disclosure in case the default continues and the conditions regulating the retention of payment default information. 9.7 If the Customer is late in payment by more than 14 days, Ferratum shall have the right to send a past due notice to the Customer and charge an administrative fee for the amount specified in the List of Fees for such service, which fee shall fall due and be payable within [2] working days from when Ferratum sends such a past due notice to the Customer. 9.8 Ferratum shall also be entitled to claim compensation of all actual additional damages, expenses and costs incurred in collecting overdue amounts, including the recovery of payments made through debt collectors, provided that in the latter case the amount charged to the Customer shall not exceed the highest amount allowed by the then current legislation. The Customer agrees that such amount shall be collected directly from him or her through debt collectors without the requirement of court or judicial intervention.)

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 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.beyond 9.4 The Total Amount Due falls due for repayment immediately if the Customer becomes insolvent (is declared bankrupt) or dies. 9.5 If Ferratum has the right to recall the Credit but does not invoke the basis for recall immediately when it comes to its attention, this does not constitute a waiver of Ferratum’s right to invoke such grounds and recall the Credit at a later date. 9.6 If any amount has been overdue for more than 60 days, Ferratum shall have the right to report and register the Customer in debt registers/databases containing credit histories of debtors provided that a past-due notice is sent to the Customer in writing at least 21 days before the disclosure of information to the credit information register. Such past due notice shall include information on the possibility of such disclosure in case the default continues and the conditions regulating the retention of payment default information. 9.7 If the Customer is late in payment by more than 14 days, Ferratum shall have the right to send a past due notice to the Customer and charge an administrative fee for the amount specified in the List of Fees for such service, which fee shall fall due and be payable within [2] working days from when Ferratum sends such a past due notice to the Customer. 9.8 Ferratum shall also be entitled to claim compensation of all actual additional damages, expenses and costs incurred in collecting overdue amounts, including the recovery of payments made through debt collectors, provided that in the latter case the amount charged to the Customer shall not exceed the highest amount allowed by the then current legislation. The Customer agrees that such amount shall be collected directly from him or her through debt collectors without the requirement of court or judicial intervention.shall