So the SA carries a statement.
This order bears interest at the rate of three (3%) per year.
So the issue is non payment of section 7 expenses. Daycare.
How do we calculate the interest?
3% on the present outstanding amount? Probably not. He is 7 months in arrears. So Dec payment is 7 months overdue, Jan is 6 months overdue.
Do I,then compound the monthly interest? Its not a lot, its more sending a message that you have a legal obligation to pay daycare and it is not going away just by ignoring it, in fact like any debt it will increase.
.
This order bears interest at the rate of three (3%) per year.
So the issue is non payment of section 7 expenses. Daycare.
How do we calculate the interest?
3% on the present outstanding amount? Probably not. He is 7 months in arrears. So Dec payment is 7 months overdue, Jan is 6 months overdue.
Do I,then compound the monthly interest? Its not a lot, its more sending a message that you have a legal obligation to pay daycare and it is not going away just by ignoring it, in fact like any debt it will increase.
.
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