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.
If an instalment is overdue, default interest is calculated daily from the first day of delay on the full overdue amount, including both the loan principal and interest. Default interest continues to accrue until the overdue instalment has been paid in full, but for no longer than 180 days. More information here.
If you fail to fulfil your contractual obligations and miss your instalment payments, information about your outstanding debt, together with your personal data, may be transferred to the credit information bureau "UAB Creditinfo Lietuva" (company code 111689163, address: Lvivo g. 21A, 09313 Vilnius, Lithuania, tel. +370 5 239 4149).
"UAB Creditinfo Lietuva" processes and provides this information to third parties, including financial institutions, telecommunications companies, insurance companies, electricity and utility service providers, retailers and others, for legitimate purposes such as creditworthiness and insurance risk assessment, as well as debt management.
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 the debt may be transferred to a law firm or debt collection agency. It may also be recovered through legal proceedings, and you may be required to cover any lawful recovery costs.
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.