A borrower has stopped paying and stopped answering. In this order:
- Ask once, plainly.
People miss dates for real reasons. A calm, specific message often gets a payment plan.
- Mark it accurately in your Ledger.
Overdue is not the same as default. Change the status to Default only when it is one.
- File a Warden report with your evidence, so the next lender is warned.
- Pursue recovery through whatever channel you funded on: see the tradeoffs below.
Use the playbook
Open the Recovery playbook before funding. Choose a stage in In this playbook to move to its heading. On a phone, contents appear above the stages. The guide follows preparation, repayment, missed payments, provider options, court preparation and collection. A judgment does not guarantee payment.