In case a borrower is not able to repay the loan, and no solution would be found directly between the borrower and Crowdpear (for example, refinancing of the loan), the legal recovery process following the normative acts valid in the Republic of Lithuania would be initiated.
Note that for each day of overdue interest payment, an additional 5% yearly interest would be applied for each investment (accumulated overdue interest amount would be processed with the last payment per schedule).
For more information, please refer to the document Procedure for management of defaults