What's a Default Notice letter?
If you miss a repayment on your scheduled due date, you may receive a Default Notice. This notice signifies that you haven't met your obligation to make payments under your loan contract.
When you receive a Default Notice, it will outline that you have 30 days to pay your missed repayments.
If you don't make the payment within the given timeframe, we may need to take actions against you for the missed repayment or the entire accelerated debt, as outlined in the Default Notice.