If a loan goes into default, Payton will work with the borrower to rectify the default as quickly as possible.
If the default is not rectified within 30 days (or a work-out plan not agreed), it is referred to solicitors, who begin the recovery process.
If the legal notice to pay is not complied with, we will move to sell the security property in order to recover your investment and any other outstanding interest and fees.
During this period you will earn a higher “default” rate of interest.
