Additional charges that may be made by Mallard Finance in connection with your credit agreement with us.
1. If you fail to make a payment when it is due under your agreement with us:
You have agreed to make payments by direct debit on specific dates. If you fail to meet these obligations or arrangements that are put in place in substitution at any time by for instance allowing a direct debit to bounce, cancelling a direct debit, stopping a cheque, allowing a cheque to bounce or other such then we will incur costs of £5 from the bankers in the transaction and we will pass these on to you plus a handling charge of £17 making a total cost to you of £22. This charge will be made each time you miss a payment.
2. If you fall into arrears:
You will be charged £17 for each calendar month during which your account is in arrears.
3. If we have to telephone you or write to you following any failure by you as described in paragraph 1 above:
If you fail to notify us of and remedy any failure by you to make the payments as due under your credit agreement with us so that we have to make telephone calls to you or write to you we reserve the right to charge you for all and any such actions. The amount of such charges will be £25 per action. In all likelihood we will not charge on the first telephone call or letter. Repeated failure by you increases our administrative costs and it is these that we must recover.
4. If you fail to respond to us or keep us notified of your address details:
If we have to trace you or get someone to visit your home or other premises for whatever reason we will incur costs and you are liable for these. The full amount will be debited to your account with us. Likely charges in this respect will be in the range of £100 to £300 depending on the action taken.
5. If you wish to hand the vehicle back:
You have the right in an agreement regulated by the Consumer Credit Act to hand the car back in certain circumstances. The details of this are set out in the Hire Purchase Agreement. If you have not taken good care of the vehicle you may be charged for this. We will write to you to confirm where this is the case.
6. If we have to take any legal or enforcement action:
If we use solicitors or other professional in any dealing with you, you are responsible for their fees and costs. If we are asked to release security our fee will be £75. Other actions specifically required ancillary to the normal administration of your credit with us will be charged for to reflect the cost to us of the action required.
Other actions specifically required ancillary to the normal administration of your credit with us will be charged for to reflect the cost to us of the action required.