In the event you are late in your repayment, there will be a late interest charge of 18% p.a. applied on the outstanding amount after 3 days past the due date. This late interest charge will accrue and become due when you regularise your account. Cofundr will advise you on the late interest amount due via the platform.

In the event you default on your obligations, Cofundr may consider implementing a debt restructuring plan in order to aid you in fulfilling your repayment obligations (on a case-by-case basis). However, if you continue to default, fail, neglect, delay to pay or pay partially on the subsequent repayment date, Cofundr reserves its right to proceed with its default recovery measures which may include but not limited to engaging a licensed Debt Collection Agency and/or to proceed with legal proceedings to recover the outstanding amount.