In the unfortunate case where you have three or more consecutive monthly payments that have not been paid in full, and despite repeated warnings you have not paid back the debt, we'll send you a notification of the cancellation of the loan agreement.
The cancellation of the loan agreement means the entire loan balance, including interest on the debt, unpaid management fees and invoices for add-on services, and costs incurred in collecting the debt, become collectible in accordance with the law and the terms of your loan agreement. If you have more than one loan, we will go to court after the last loan contract has been canceled.
Legal proceedings
If the loan agreement is terminated, Bondora has the right to file a lawsuit to recover the debt. In such a case, we will demand repayment of all outstanding amounts and any costs incurred in connection with the legal proceedings.
If the parties are unable to reach an agreement, the court issues an agreement, which is enforced by the court. In some cases, a new payment schedule can be arranged through a bailiff. In such a case, the debtor must submit a statement directly to the bailiff who oversees the case. If the debtor sticks to the schedule, debtor's bank accounts and salary will not be seized.
What happens when my debt has been forwarded to a bailiff?
After the court has released their judgment and the debt has been forwarded to a bailiff, Bondora will do the following:
1.Initiation of enforcement proceedings: Once the bailiff has received an application for enforcement from the claimant (Bondora), the enforcement proceedings starts. The debtor receives the enforcement order, the enforcement notice, and the bailiff's decision on the bailiff's fee by post. The debtor is given a period of voluntary payment in the enforcement notice, usually 10 days, but can can vary depending on the enforcement order.
2.Payment schedule via executor: Upon receipt of the enforcement notice, the debtor has the right to apply to a bailiff and submit an application for payment of the debt, based on a payment schedule. The bailiff then asks Bondora to agree to a payment schedule with the debtor on his/her terms. The debtor must fill in a payment schedule application form. The debtor fills in the following: Debt payment in monthly installments, the date of the monthly payment, personal data, current account, dependents, existing liabilities, income, and request for the release from their bank account or salary. The debtor must submit a six-month bank account statement (in pdf format) and documents proving income, along with the payment schedule form.
3.The debt has not been paid in full or there is no agreement to pay the debt: If the enforcement order is not completed within the time limit for voluntary enforcement and the claimant has not provided a payment schedule, the claim is paid from the debtor's income: monthly salary, salary, statutory maintenance, allowances and benefits (regular and lump sum), movable and immovable property and claims. The rights and obligations, of the debtor, the claimant, and the bailiff, as well as the procedure for enforcement of the enforcement order, are provided in the Code of Enforcement Procedure.
Debt notifications
We notify you about your debt via SMS, email, and automated calls. These reminders are for informational purposes only and are free of charge.
The debt amount is calculated according to the full amount that has become collectible in accordance with the law and the terms of your loan agreement. The debt amount consists of the entire loan balance, including interest and management fees on the debt, unpaid invoices, and costs incurred in collecting the debt before the cancellation of the loan agreement(s). The actual debt amount may differ from the final court decision. For the most current information, please contact the bailiff or debt-collection agency that is currently collecting your debt.