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2020-05-05
Set Sum Notice Feature
The Set Sum Notice feature helps you track and manage your financial goals with ease. By providing timely updates on your set financial targets, it enables you to stay informed and focused on your objectives.
Key Features
Real-time notifications about your financial progress
Customizable alerts to match your goals
Clear and concise summaries of your financial data
User-friendly interface for easy navigation
Potential Use Cases and Benefits
Helping individuals manage their savings for a vacation or a major purchase
Assisting families in budgeting for monthly expenses
Supporting small business owners in monitoring cash flow and expenses
Enabling teams to work towards target budgets and projects
With the Set Sum Notice feature, you can easily stay on track with your financial plans. By receiving pertinent updates, you can quickly identify areas where you may need to adjust your spending or savings strategies. Ultimately, this benefit leads you to make informed decisions and reach your goals faster.
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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
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What is a notice of sums in arrears?
What does a notice of sums in arrears mean? A notice of sums in arrears is a statement sent to you by your lender to let you know that you have fallen behind with the payments for your loan.
What is a default sum notice?
A Default Sum is a charge made for late, missed or returned payments, or for exceeding your credit limit or costs we incur in enforcing our rights. We are required to give you notice of these sums, which we do by displaying them on your statement or by sending you a letter.
What does a default notice mean?
A default notice (sometimes referred to as a default letter or Notice of Default) is a formal letter sent to you by a creditor as a result of payments missed on a credit agreement between yourself and a credit provider. The notice will give you 14 days to pay any amount owed before issuing a default.
What should you do if you receive a default notice?
pay the amount owed and your usual repayment within 30 days. Once you have caught up with repayments, you are no longer in default and the lender cannot start legal action against you. Apply for a hardship variation if you cannot afford to pay the amount in default.
Can a default notice be removed?
Once a default is recorded on your credit profile, you can't have it removed before the six years are up (unless it's an error). However, there are several things that can reduce its negative impact: Repayment. Try and pay off what you owe as soon as possible.
What does a default notice look like?
A default notice is a formal letter which is usually sent after three to six missed payments. They can only be issued for debts that are regulated by the Consumer Credit Act. There are several things that it should include: The type of agreement.
What does Nokia stand for?
Hi, hope you can help. Out of the blue I recently received a refund from MONA for their failure to provide notice of sums in arrears (Nokia) in 2009.
What is default sum notice?
A Notice of Default Sums is something that must be provided to you, detailing any amount you have to pay as a result of defaulting on a payment. They are a sum other than interest payable by the customer in connection with a breach of the agreement. Often these will be shown on your statement or sent to you by post.
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