What happens if I don't pay/ am late on my loan?
The best thing to do in this situation would be to get in touch with our collection managers at firstname.lastname@example.org.
We provide every borrower with a 3-day grace period from the date of the repayment. After that additional interest on the value of the overdue bitcoins at a rate of five percent (500 basis points) per annum above the base rate of the European Central Bank is charged daily on the loan. Therefore, we strongly urge you to make your payments as timely as possible.
Make sure to explain your situation and keep in touch with us in order to find a solution. Please keep in mind that communicating with our team would be the best step you can take. If we cannot get in touch with you we have the option to terminate your loan and send it to a debt collection agency. This also means that all overdue payments and all future payments will be due at once.