BF001 - What happens if a borrower does not meet the repayment commitment?

If a payment is not honoured, 4AX Debt Services start the same legal action as would a bank or a credit agency. 4AX Debt Services will send the necessary documentation and information to a legal firm that will institute a legal collections process. This will also incur a legal fee according to the service providers’ fee structure.
Further information and covenants are contained within the Borrower Agreement signed upon conclusion of a loan.