Monthly Installments and Collateral Usage On the specified installment date each month, the debt installment is automatically deducted from the user's account. If the user does not pay the first installment on time, the installment amount will be deducted from the 10% collateral. In this case, the 10% collateral is used to cover the first installment. If the user fails to make installment payments and depletes the collateral balance, the debt will be automatically canceled, and the collateral assets will be forfeited.
Late Fee If the user fails to pay debt installments, a daily late fee will be applied. The late fee will be added to the debt amount if not paid, increasing the total repayment amount. This encourages timely payment of installments and compensates for the delay.
Early Repayment and Debt Termination After paying the first installment, the borrower can repay the entire debt at any time to terminate the debt. Upon full repayment, the collateral balance will be refunded. This provides flexibility and an option for early debt closure.
Timely Payment Benefits Timely payment of debts relieves users from interest burdens and ensures the healthy continuation of the debt. This not only reduces the user's financial burden but also helps in the regular management of the debt.
Monitoring Through User Panel Users can easily track their borrowed amount, remaining balance, installment dates, and paid installments through their user panel. The user panel provides a transparent and convenient way to manage debt details.
Customer Service For any requests, suggestions, or complaints regarding debts and payments, users can contact customer service. Our customer service team is always ready to assist and provide support for any questions, suggestions, or issues. This process helps users manage their debt repayment plans and protect their collateral. Mopa Finance offers a secure and seamless financial experience through this flexible and automated system.
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