Understanding Loan Payment Plans

We currently have two payment plan options to help alleviate stress.

We understand life happens and we'll work with you to the best of our ability. If you need to convert to a payment plan please reach out to our customer success team.

Things to consider before converting to a payment plan:

  • We always honor the amount you agreed to repay when the loan was accepted. Rest assured, we never charge late fees or additional interest.
  • However, if the payment(s) are 30 days or more past the originally scheduled date(s) there will be negative effects on your credit score.
  • Your score will be increasingly impacted the longer the payments remain unpaid. We encourage you to make payments as soon as possible to avoid further damage to your credit score.

 

Plan A: 4-Week Delay

We can push your remaining payments out by 4 weeks.

This will most likely put you right on the edge of the 29-day grace period and make it possible to avoid damaging your credit score.

Contact our customer success team using the app's Contact Us form and we will work with you to update your payment dates.

 

Plan B: Monthly Payments

Beginning next month, you'll be responsible for making 1 payment each month until the loan is paid off.

There isn't any way to avoid damaging your credit with this payment plan. Your score will be increasingly impacted the longer the payments remain unpaid. We encourage you to make payments as soon as possible to avoid further damage to your credit score.

Contact our customer success team using the app's Contact Us form and we will work with you to update your payment dates.

 

Other Options

If you are a Louisiana or Washington State resident, we may have alternative options for repayment. To learn more about these options, please reach out to our customer success team using the app's Contact Us form.

 

What can I do if I’ve been impacted by COVID-19?

Possible is committed to providing flexible repayment plans for customers impacted by COVID-19.

COVID-19 has had a significant impact on households across the country and we know that many of our customers are starting to feel the effects.

If you or a member of your household have been impacted by COVID-19, we have a forbearance plan in place to assist you with pushing your payments out.

Please reach out to our customer success team as soon as possible for more information about our forbearance plan and to opt-in.

If you're in need of additional assistance, we've compiled some helpful resources in our latest blog posts linked below.

COVID Financial Support and Assistance

Coronavirus Loans: What are your Options During the Outbreak?

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