Responsible lending

Dear customers!

Lime24 service approves a loan application on the basis that the client has a fixed and guaranteed income amongst other factors.

Lime24 service is designed so that before receiving the loan you agree to the terms of the Loan Agreement and the Debit Order Authorization. According to these documents, the User signing the agreements consists of an electronic signature and entering the SMS code (equivalent to a signature) sent by Lime to the cellphone number provided by the client during registration. This makes the electronic Loan Agreement and Debit Order Authorization as valid as a personally signed paper document.

For our company it is very important to build trust relationships with every customer. Therefore, we will inform you in advance about the possible consequences of default under the Loan Agreement.

  1. Lime24 service collaborates with leading credit bureaus.
    Information about late repayment of loans will be transferred to the credit bureaus. This can negatively affect your credit rating and the possibility of obtaining new loans on the Lime24 website, as well as other banks and financial institutions.
  2. Failure to comply with the obligations under the Loan Agreement does not stop our system from charging interest on outstanding repayment amounts. The outstanding amount accrues interest for the number of days the loan remains unpaid after the repayment date has passed and other penalties are charged.
    In case of late repayment, the customer shall be charged penalty fees in accordance with the Terms of Agreement. Interest will continue to accrue from the original amount allocated according to earlier tariffs, and therefore the interest rate will not increase. The Lime24 service is responsible and reliable and will not charge increased interest but the interest amount charged remains the same throughout the loan and even in an event of late repayment.
  3. In the case of debt recovery in court's and collection agencies.

In addition to the late repayment charges, the costs spent on any legal proceedings, as well as the costs of collection agencies will be incurred by the client. If you are not sure whether you will be able to repay the loan, then it is better not to use the services of Lime24. As with every lending institution, the first stage, in case of late payment will be to contact the client and negotiate repayment terms, if the client does not cooperate we will then seek the services of debt collection agencies and eventually take legal action through lawyers and the court. If you do not think you will be able to repay the loan on the repayment date, please contact us and we will help you by negotiating a repayment plan.