If you are not making your loan repayments and a repayment arrangement has not been made with P4 Finance, your BOS Note will be redeemed, and the proceeds will be used towards paying off your loan. Any amount not covered by the redemption proceeds is still your responsibility to pay. For the time that you are in arrears, you will also be charged an extra margin of 0.3% on your interest rate. Default Fees will also be chaged for each payment defaulted. If your repayment is overdue for more than 90 days, a default will be listed with Veda and noted on your credit report.