How do your default fees work?

Ah those dreaded default fees, which you’ll never have to pay by the way, if you make all your scheduled payments on time. If, however you don’t, we won’t be super mad at you, but we will have to add a default fee of R75.00 (incl. VAT) to your account to cover our costs. A further R75.00 (incl. VAT) will be charged for every week that the payment remains unpaid. Our default fees are capped at a total of R225.00 (incl. VAT) but we really encourage you to get your payments up-to-date before you get to this point, because at this stage your details may be passed onto a credit bureau (which could negatively impact your credit score) and a we can’t promise that they won’t be super mad at you…