late fees
UNDERSTANDING YOUR LATE FEES.
HOW IT'S APPLIED?
Late fees will be applied daily to each and individual 'lease' invoice that falls outside the due date stated. The daily rate charge is $5.50 inc GST applicable per lease invoice and it will be calculated from due date to individual paid invoice date in full.
WHEN IT'S APPLIED?
Late fees invoice will be delivered on seperate invoice account stating late fee charges populated from month to month data basis extracted and are enforceable with a 90 days due date payable from originated invoice date. A further delays to settle your late fee invoice will result to a breach of your lease contract and will be subject for review of termination.
KNOWING YOUR DUE DATES
Your normal lease invoice will be delivered on reoccuring basis (eg; weekly or monthly) with a nominated due date stated on each invoice. It is important to know and understand your due dates to manage your payment planning as it is an important source towards your creditability data and how it effect your account credit score.
MANAGE YOUR PAYMENT
You can manage by ensuring that your payment will land by due date and staying on top of your regular payment and method to deliver a sufficient payments and a perfect credit score.
As a lease holder or our member you are automatically enrolled into our loyalty program and will have an individual account which your payment dates behaviour will play an important role to your credit score for upgrades or re-leasing yoiur contract in future.
HOW TO AVOID THEM?
You can avoid late fees with a simple efficient payment time planning of managing your own direct debit dates and or ensuring that you have sufficient credit on your registered card payment with us on due date. Our debit system will automatically process debit payments on regular twice on a day to day basis, whoch goves everyone an ample time to have the payment credit ready for debits.
Notes:
1. Any payment debited or recieved will be automatically placed to pay the oldest invoice first (lease or non lease invoice).
2. Any partial payments or a generic amount payment on a invoice or towards a payable invoice, will still atrracts a daily late fee as the invoice are still not paid in full.
GET ASSISTANCE
We understand sometimes you might be experiencing a short, maybe sudden loss of income or taken unexpected turn and therefore you are in no choice of being bit late or fall behind your lease payment.
It is very important to communicate with us and stay in touch at every aspect, no matter what! This way we can hear and like to help you control the situation, also can offer an payment planning assistance with various options based on your circumstances, to hold the lease or offer you a late fees discounts.
Tips:
It is also wise to let us know before the due date, if you are going to be little late on your next payment and we could work out a suitable new due date and avoid the late fees applicable. Get in touch with your fleet manager today or contact us here.
your individual invoice timeline
INVOICE RECIEVED
Starting off
Due Date 01 March (example)reminder sent
due date today
End by close of business day.day one late
late fee starts
Reminder SMS sent & daily debit attempts.day 3 - 6 late
late fee continues
Reminder SMS sent & daily debit attempts.day 7 - 10 late
Phase two - overdue
Overdue Reminder SMS sent & daily debit attempts.day 10 - 13 late
LATE FEE CONTINUES
Overdue Reminder SMS sent & daily debit attempts.DAY 14 - 17 LATE
Phase three - overdue
Final Overdue Reminder SMS sent & daily debit attempts.DAY 17 - 20 LATE
final reminder overdue
Legal process reminder letter sent & late fee continues.DAY 21 - 28 late
DEBTORS LEDGER
Debt agency commence and credit notifications.day 28 - 35 late
debt agency collection
Debt collection process and final attempts.day 36 - 45 late
Phase four - recovery
Asset Recovery Process & Debt collections.day 46 - 75 late
debt recoveries
Full debt statement & agency recovery process.day 76 - 90 late
Phase five - legal process
Statement of claim for civil proceedings.day 91- 119 late
judgements
Seeking default by judgement for hearing date.day 120 - 150 late
enforcements
Garnishee and or sherrif writ for levy order.