We send automatic reminders to notify you about an upcoming payment date. If a payment date is missed, automated debt notifications go out the next day after the debt occurs, and periodically after that.
Default interest is calculated daily on the overdue amount from the date the payment became due until the overdue amount is fully paid, but for no longer than 180 calendar days. More information here.
If you are unable to pay the debt even after repeated reminders and three consecutive monthly payments are partially or fully in arrears, Bondora will be forced to cancel your loan agreement.