What's a Default Notice letter?
If you miss a repayment on your scheduled due date, you may receive a Default Notice, signifying that you haven't met your obligation to make payments under your loan contract.
When you receive a Default Notice, you'll have 30 days to remedy your missed repayment as explained in the Default Notice.
If you don't resolve the default within the given timeframe, we may initiate enforcement actions against you for the missed repayment or the entire accelerated debt, as outlined in the Default Notice.