What is the debt collection procedure for active loans?

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 keep reminding you of the debt by SMS, email, automated calls, and postal letters. Debt notifications will be issued starting from the first day after the debt has occurred. 

If you still do not meet your payment obligations, we can start a debt collection process. You should also take into account that information about your non-fulfillment of obligations may be published in the database of the credit information office for breach of contract.

If the debt is not paid in full

If you do not pay the debt even after repeated reminders and three consecutive monthly payments are partially or fully in arrears, Bondora will be forced to cancel the loan agreement. 

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.