What happens if I don't make a monthly payment?

Lava requires monthly payments on loans longer than 1 month in duration. If you don't make this payment, your loan will not be closed or liquidated, but you will be charged a late fee.

The late fee is 0.2%, assessed weekly on your loan balance, until the payment is made. You will receive reminders of upcoming loan payments, and you'll also be notified if your payment is overdue.