Delinquency
Set up the penalties that your customers will incur if they do not make at least the minimum payment.
Introduction
If your customer does not make a payment sufficient to cover the minimum payment, it is considered to be delinquent. In this case, interest, fines, and taxes that correspond to what you have configured and define the regulation will be applied. In addition, you can configure a line to be paused when your customer enters into delinquency.
Late Fee
It is a form of penalty for the late payment of a debt or invoice. From this endpoint, you can configure the type of penalty that you will apply:
| Percentage penalty | This penalty is set as a percentage of the overdue amount owed and is not linked to the time of delay in payment. According to 🇧🇷Brazilian legislation, the late fee is 2% of the total amount of the overdue debt or invoice. This penalty is applied regardless of how much time has passed since the due date. That is, if your customer pays after the due date, an automatic penalty of 2% of the overdue amount owed will be applied. |
| Fixed penalty | It is a fixed value, regardless of the amount of the debt. It applies if your customer does not make at least the minimum payment. |
Paused for delinquency
From the Create product endpoint, you can configure a credit line to be automatically paused after a certain number of days in delinquency.
By pausing a credit line, your customer will not be able to make new transactions.