If you are in default under your payment plan, Elevant may take action against you to recover any outstanding amount. Before we take enforcement action against you, we must:
- Give you at least 30 days written notice of the event of default; and
- Give you the opportunity to remedy the event of default within 30 days.
We are not required to give you’re a default notice or wait 30 days before taking enforcement action if:
- We reasonably believe that we were induced by fraud by you to enter into this loan contract;
- We have made reasonable attempts to locate you but without success; or
- A court authorises us to begin enforcement proceedings.
If you default under your payment plan, you may be required to pay enforcement expenses. This means you may have to pay any of our reasonable costs incurred as collection expenses and any other costs we incur as a result of your default.