Kavēts Maksājums

If a customer has overdue payments, they will no longer be able to use their available credit limit. From the 4th day of delay, the credit line is blocked, and the customer must repay the outstanding overdue balance before they can withdraw money again.

Consumer loan customers who have difficulty making payments may be able to skip one monthly payment if they meet the eligibility criteria, including having paid at least one invoice, no recent significant delays, and the latest invoice paid on time. Credit holidays can be granted once every 4 months, extend the repayment schedule by one...

Customers who cannot make a payment on time should contact the debt collection department on weekdays from 09:00 to 18:00 by phone or email. Ferratum may be able to offer a suitable solution, and credit holidays may be available depending on the customer’s loan agreement and eligibility.

Customers can apply for a Ferratum credit line online, either through the website as new customers or through their customer profile if they have applied before. Applicants must be permanent residents of Latvia, aged 19–75, have regular official income in Latvia, a personal email address, Latvian mobile number, and a personal bank...

Late repayments may result in penalty fees, which can increase each day and make the customer’s financial situation worse. Missed payments may also negatively affect future credit assessments, and if the debt remains unpaid and no repayment agreement is reached, the case may be passed to a third-party debt collection company.

A penalty fee is charged when the customer does not pay the invoice amount on time. Ferratum may charge 0.5% per day on the overdue unpaid amount until it is paid, but the total penalty cannot exceed 10% of the unpaid loan principal at that time.

If a debt is passed to a debt collection company, the customer’s details may be registered in debt history databases, which can seriously affect their ability to get credit, leasing, loans, or services with deferred payment. During the collection process, the customer may receive calls, SMS messages, emails, legal warnings, additional...