If the repayment is scheduled and the user wasn’t able to pay, the system will try to make an automatic payment first (if the borrower has enough money in the appropriate currency on the platform). If there aren’t enough funds, the part of the collateral will be liquidated.
Articles in this section
- How to start borrowing?
- What will happen if I am not able to repay the loan or forget to do it?
- What happens if I miss one repayment?
- What risks does the borrower bear?
- How safely my cryptoassets are stored on the CoinLoan platform?
- What will happen if the cryptoasset market value falls during the loan use?
- Which cryptoasset can I pledge as collateral?
- In what currency can the loans be borrowed?
- Can I borrow cryptocurrency?
- For what purposes may I get loans?