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Default classification
Default classification
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As you practice lending activities on our platform, you may encounter defaulted loans on your portfolio. We have several default categories – some of which you may have come across on our app or website. Below are details of our classification:


Loan with no repayment for more than 90 days past due.

Default (in recovery):

Defaulted loan that is still undergoing recovery efforts.

Default (non-recoverable):

Defaulted loan that Modalku had not been able to recover despite efforts due to one or more of the following reasons:

  • The borrower and/or personal guarantors went bankrupt.

  • The cost required to recover the loan is larger than the amount of outstanding loan and/or low possibility to gain repayment from the borrower and/or personal guarantors.

  • The amount of borrower's loan settlement is less than the amount of total payments overdue.

Update on Portfolio and Dashboard – you can view and filter for Defaulted Loans, divided by “In Recovery” status and “Unsuccessful Recovery” status.

Portfolio Performance

To view on our website, visit your portfolio. Updates can be seen under “Performance”.

Aim below to see the new default status filter and status beside each defaulted loan.

See our article on default for more information on the topic, or contact our Live Chat should you have any questions.

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