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What is the debt procedure for canceled loans?

If the client has three or more consecutive monthly payments that have not been paid in full, and despite repeated warnings, has not paid back their debt, we'll notify the client of the cancellation of the loan agreement.

For the customer, cancellation of the loan agreement means the entire loan balance, including interest on the debt, unpaid invoices, and costs incurred in collecting the debt, becomes collectible in accordance with the law and the terms of the loan agreement. If the client has more than one loan, we will go to court after the last loan has been canceled.


Bondora will remind the customer about the pending debt via SMS, email, and automated calls. These reminders are informative and 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 the 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.

Please note: Different countries have different procedures regarding debt management and applied fees. If you're unsure what your country's procedure is, please change this article to your country's language. 

DISCLAIMER: The following only applies to loans issued in Estonia

Legal proceedings

  • We will forward the application for an urgent payment order to the court: If the debtor acknowledges the claim but is unable to pay the full amount immediately due to his/her financial situation, the parties have the right to enter into a judicial payment schedule.
  • Judicial payment schedule: If a payment schedule is decided, the court will terminate the proceedings by agreement of the parties and confirm it with a payment order. The decision on the payment order confirms the new payment schedule in accordance with § 489 (2) of the Code of Civil Procedure (CCP). If you want to enter a payment schedule, you must notify the court in writing.
  • Bailiff: If the parties do not reach a compromise, and the court pronounces the judgment, or if the debtor does not comply with the payment schedule approved by the court, the judgment is enforced. Depending on the court decision, we also agree to enter into a new payment schedule through a bailiff. The debtor must submit a statement directly to the bailiff, who oversees his/her case. If the debtor sticks to the schedule, his/her bank accounts and salary will not be seized.

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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.