What you need to know about Defaulting
Sometimes things happen, and you miss a couple payments.
This page is meant to help borrowers understand Kiva’s default process and get them back on track!
What does it mean to default on my Kiva loan?
Your Kiva loan has been defaulted due to a lack of repayments in the last 6 months and a past due balance of 6 repayments or more, despite our attempts to get you back on track.
What happens when my loan is defaulted?
When your loan is defaulted:
Your lenders are notified.
You are no longer eligible for 0% interest free capital.
What can I do if my loan has been defaulted?
If your loan has been defaulted you are still able to repay your community by making repayments.
Click here for a step-by-step guide to making repayments through your Borrower Portal.
Click here to learn more about how to make a one-time payment!
Click here learn more about setting up automatic repayments!
How will Kiva communicate with me about the default process?
Every month Kiva will email you around the time that your payment is due reminding you that overdue payment emails, Kiva US sends 3 warning/call to action emails throughout the month a borrower’s loan is eligible for default. The emails are sent at the beginning, halfway, and end of the month. These urgent emails include information on how to make a repayment, who to contact for help, provides alternatives such as signing up for a Flexible Repayment Plan, and encourages the borrower to send an update to their lenders.
I can’t make repayments, but I don’t want to default. What should I do?
Sign up for a flexible payment plan
*You must have Automatic Repayments activated in order to sign up for a Flexible Repayment plan. Click here to activate automatic repayments.
contact your lenders AND Kiva at borrowers.kiva.org. Here is a guide to updating your lenders through your borrower portal.
How do I sign up for a flexible repayment plan?
Before you can sign up for a flexible repayment plan you must first activate your Automatic Repayments by clicking here. If you have any issues check out this step by step guide.
Once you have set up Automatic Repayments fill out this form here.