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‘A bankrupt loan’ is a term we use to describe a loan that has been overdue for over 60 days and no agreement has been reached with the debtor. After 60 days the loan turns into an immediately collectible claim – if for example two payments out of 36 are in debt, then all 36 repayments need to be paid at once. This step is necessary so that we can initiate court proceedings. Investors do not need to do anything by themselves, as the whole process is handled by isePankur.

If a loan is bankrupt the debt proceedings will follow and the debtor will continue their payments, either directly or through a bailiff. A ‘bankrupt loan’ does not refer to a debtor being bankrupt. For the investor, it is important that late interest is collected from entire loan principal balance and not from individual repayments. This means that the total income could surpass the one from other investments.

Bankrupt loans are often paid back after a few months delay, either with the same payment plan or even faster, although the whole remaining amount will be displayed as the debt. According to our stats, overdue loans have been paid back in their principal amount only 2.3% less than the initial payment plan indicated. As you can see, bankrupt loans are not usually something to worry about.