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. On the 4th day, the debt notice is also sent to you by postal mail. The letter will be forwarded to the postal address registered in your Bondora account. Debt management service fees are also added according to the legislation of the country where your loan is issued. You can check the price list here.*
If you are still unable to pay off the debt, we will have to publish the payment default in the Estonian Credit Register. You can read more about when your data will be published here.
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 and appeal to the court to recover the entire loan. You can read more about the debt collection procedure for canceled loans here.
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 loan payments will be debited according to the terms of your loan agreement and in accordance with § 415 of the Law of Obligations Act (LIA).