Common use of Missed Payments Clause in Contracts

Missed Payments. If you do not make your monthly payment in full by the payment due date you will be charged additional arrears interest on any unpaid amounts and will also incur charges as outlined in the Interest and Charges sections of this agreement. If we get a judgment against you requiring you to pay us the amount you owe under this agreement, you may have to pay us the amount of the judgment plus any further interest which is charged to your account after the date of the judgment. This means that even if you pay off the full amount of the judgment you may still have a further sum to pay. Missing payments could have severe consequences on your credit rating, which might make it harder to get credit in the future. If you miss a number of payments, or do not make your monthly payments in full, we may end this loan agreement and you will have to repay the total amount you owe us early. We may take legal action against you if your payments are not made. If that action is successful, we may apply to enforce any judgment in a number of ways including getting a charging order against your home or an inhibition if your home is in Scotland.

Missed Payments. If you do not make your monthly payment in full by the payment due date you will be charged additional arrears interest on any onany unpaid amounts and will also incur charges as outlined in the Interest and Charges sections of this agreement. If we get a judgment against you requiring you to pay us the amount you owe under this agreement, you may have to pay us the amount of the judgment plus any further interest which is charged to your account after the date of the judgment. This means that even if you pay off the full amount of the judgment you may still have a further sum to pay. Missing payments could have severe consequences on your credit rating, which might make it harder to get credit in the future. If you miss a number of payments, or do not make your monthly payments in full, we may end this loan agreement and you will have to repay the total amount you owe us early. We may take legal action against you if your payments are not made. If that action is successful, we may apply to enforce any judgment in a number of ways including getting a charging order against your home or an inhibition if your home is in Scotland.