Terms and Conditions use. Re re Payment due on next paydate.
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Nonpayment procedures
Renewal policy
Charges and interest fees by MPOWA Finance (Pty) Ltd in terms of chapter 5 of Credit Act no.34 of 2005:
Service Fee of R60 each month.
Interest of 5per cent per(.17% a day thirty days. 60%p.a) when it comes to very first loan in a twelve months. 3% (0.1percent a day. 36%p.a) for almost any loan thereafter for the reason that calendar 12 months.
Interest of 3per cent every month will accrue on all balances that are outstanding
All attempts is supposed to be meant to contact your client to concur payment terms, whereafter the account would be handed up to a outside debtor collector that will add on the collection costs.
Non payment can lead to a client’s National Credit Profile showing an account that is unpaid arrears. Other credit providers assess these credit pages whenever lending that is making. Nonpayment will influence your credit history adversely and can impact future credit applications.
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