Defaults & recoveries (for borrowers)
No borrower wants to think about default, but life happens, and circumstances can change. At FOLK2FOLK, we believe in being transparent and supportive. That’s why we’ve created this section to explain what a loan default actually means, what might trigger it, and what steps we take if it occurs.
We approach defaults with care and structure. Our goal is always to recover funds in a fair, timely way while recognising the human side of every loan.
If you’re unsure about anything or worried about your ability to meet your repayments, get in touch with us as soon as possible. We’re here to help.
Articles in this section
- When is a loan in default?
Understand what situations may trigger a default and how we define it in the context of your loan.
- What happens when a loan defaults
Learn what steps we take after a default and how we aim to support a resolution.
