Debt reminders and payment default
We will remind you about the upcoming payment date via SMS and email. If we don't receive the payment on time, we will continue sending debt reminders through the same channels. Debt notifications will be issued starting from the first day after the debt has occurred.
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 still unable to pay off the debt, the information about your non-fulfillment of obligations may be published in the database of the credit information office for breach of contract.
If debt is not paid in full
If you still do not pay the debt and three consecutive monthly payments are partially or fully in arrears, Bondora will be forced to cancel the loan agreement and appeal to the court to recover the entire loan.
Please note: If there is more than one monthly payment in arrears and you make a repayment in an amount that is not sufficient to cover the entire debt, the amount of money paid will be distributed in accordance with the procedure specified in the loan agreement.