- When a loan is defaulted the total amount is due immediately , which consists of the remaining loan balance and interest to the end of the loan term. We may also charge an additional Collections Charge of up to 15% of the outstanding amount.
- Other charges that may be added are:
(a) tracing charges (for finding the Borrower/Guarantor if it/they cannot be contacted by Funding Circle or a Collections Agent);
(b) a fee if a field agent has been instructed as part of the collections process and;
(c) all litigation, enforcement and recovery costs and expenses, including but not limited to legal fees and expenses.