What happens if the borrower does not pay on time or stops paying?

In spite of all the attention paid when granting the loans and the preventive communication, some of the borrowers will not be able to pay because changes or accidents of life happen.


In case such difficulties occur, we’ll take care of the collection of the overdue. While respecting ethical rules, we’ll perform the following actions:

  • Proactive communication through SMS, email and phone in order to contact the borrower and find with him an amicable solution

  • Possibility for the borrower to change the due date of the loan once per year. This would help in case of change of job and date of payment of the salary

  • Restructuring the credit, mainly by decreasing the installment, ie by increasing the remaining duration

  • Postponement of an installment in delay to the end of the credit

  • Declaration of the delay to the Bulgarian National Bank Credit Bureau when the delay reaches more than 30 days. Such negative information compromises the future chances of the borrower to get a new credit anywhere in Bulgaria 


If none of theses actions result and if the loan reaches 120 days of delay, we’ll declare the loan defaulted and sell it to external collection agencies. We’ll make tenders with at least 3 companies and sell to the one with the best offer, providing that the company applies the same ethical rules as us.

Investors will receive their respective share of the price paid by the buyer.