You can pay your loan off at any time! There aren't any fees for paying your loan off early. However, if you are intending to build your credit, you may want to check out this article: Will repaying my loan early increase my credit score?
To pay your remaining balance, log in to the Possible app and follow the steps below:
1. From the app dashboard, tap on Pay my balance now
2. A screen will pop up notifying you of your total remaining balance. Tap on I'm ready to pay my balance to continue.
3. A confirmation screen will pop up, asking you to confirm that you would like to pay the total remaining balance of your loan. It will include additional details about the payment for your review. If you would like to continue, tap on Pay $XXX.XX Now
4. A Thank you screen will pop up providing further details about your payment, including an expected processing time.
5. After tapping on Go home, you should see 'Processing' next to each of your remaining payments.
Please be aware: Once you confirm that you would like to Pay your balance now, your payments will automatically begin processing and we will not be able to cancel them. If you have made this selection in error and your payments are returned as unsuccessful, you can update them in the app for a later date, or reach out to our customer success team for assistance.
If you are hoping for your payments to be processed today in order to reapply, please keep our processing times in mind.
If you’re set up to pay using a compatible debit card, your payment will finish processing within 24 hours. If you’re set up to pay by automatic bank transfer, your payments may take up to 5 business days (not including Saturdays, Sundays, and bank holidays) to finish processing.
Once your payments finish processing successfully, your account will be reset to allow you to reapply.
Want to switch your payment method for quicker processing? Click here for more information.