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Debt / 

How does Bondora settle debt?

How does Bondora settle debt?

Our debt procedure is divided into two stages:

  1. Debt procedure for active loans
  2. Debt procedure for canceled loans

If a borrower has an active loan and is behind on their payments (in arrears), we'll do the following:

  • Send debt notifications by SMS, email, automated calls and post.
  • Publish the debtor's data in the credit payment default register.
  • Cancel the original payment schedule. We do this, so the entire loan amount and all interest payments become collectible immediately.
  • Go to court to collect the debt.
  • After the judgment has been made, we ask the bailiff to initiate enforcement proceedings to recover the debt.

We recommend you activate B Secure, the paid service that allows you to change your payment schedule to suit your payment abilities if you are looking for a solution to prevent payment difficulties. Learn more about B Secure here.

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Bondora AS

A.H.Tammsaare tee 47, Tallinn 11316, Estonia
Estonian company number 11483929
EU VAT number: EE101252401

Representative example
A loan of 2,230 over 5 years will cost you € 63.88 per month. Representative 31.74% APR. The total amount payable over 5 years is € 3,962.53, which includes € 1,156.73 interest at 17.85% fixed and a €445.8 account management fee. A €130 contract fee will be collected immediately after loan is paid out. The total charge after 5 years is €1,732.53. The total amount of credit is 2,230. The rate you are offered will depend on your individual circumstances. Please examine the terms and conditions of our financial service and consult an expert if necessary.

Our loan terms
Loan amount from 500€ to 10000€. Repayment period from 3 to 60 months. Annual Percentage Rate (APR) from 31.74% to 61.56%. The rate you are offered will depend on your individual circumstances.