What happens in the case of a loan default?
In case of a default, our NBFC partners use a combination of soft and hard collections to collect missed payments on the lender’s behalf. They may assist/facilitate the collection through their in-house collection mechanism and send a legal notice on behalf of the lender to the borrower. They have also signed up with collection agencies to recover money from overdue borrowers, who then, on your behalf, will try and reach out to the borrower and get back the outstanding funds on a case-to-case basis.
Vested and the platforms do NOT guarantee any part / full recovery from borrowers.