Some customers also left complaints on the BBB website, but Possible Finance answered or resolved many of them. Satisfied customers said the loan process was quick, easy and convenient, while some dissatisfied customers said they were approved for a lower loan amount than they requested. On the Better Business Bureau (BBB), Possible Finance has a score of 4.46 out of 5 stars based on 263 customer reviews. Applying with a co-signer could help you qualify if you don’t meet the lender’s income requirements. Possible Finance allows for co-signers on its installment loans. However, you’ll need to improve your financial situation for your application to be successful. If you’re not approved for a Possible Finance loan, you can reapply in three days. If your average bank account balance is often low or negative, Possible Finance may deny your application. Specifically, you’ll need a monthly income of at least $750 and consistent deposits over at least a two-month period. It looks at factors such as your bank account balance, weekly income, consistency of deposits, number of returned checks or insufficient funds fees, and monthly cash flow.
Since Possible Finance doesn’t check your credit when considering you for a loan, it relies heavily on your bank account activity. When you pay back the loan, Possible Finance will report your payments to two of the three credit bureaus-Experian and TransUnion-which can help you build credit. There is no credit score requirement for a Possible Finance loan. Meeting the requirements below won’t guarantee approval, but they can help you decide if a Possible loan is the right fit for you. Typically, these include information from an applicant’s credit profile and other factors that demonstrate the ability to repay the loan, such as income. All lenders have their own unique underwriting requirements. Personal loan applications are approved or declined based on a number of factors. After you receive your loan, you have 29 days to postpone or change your payment due date at no cost.
#POSSIBLE FINANCE LOAN AMOUNTS FULL#
While payday loans typically require full repayment on your next paycheck, Possible Finance installment loans let you pay back the loan with four equal monthly payments over a period of eight weeks. Possible Finance looks at your income, rather than your credit, to determine whether you qualify for one of its installment loans. There’s no penalty for paying back your installment loan early. Possible Finance does not charge late fees. Some locations charge $15 to $20 for every $100 you borrow, while others charge 25%. Possible Finance states that APRs range from 150% to 200%, though they may go up to 249% in some states. You also have a 29-day grace period during which you can change your payment dates. You’ll pay back the loan in four equal payments over a period of eight weeks.
You can borrow up to $500, though the maximum loan amount will vary by state.
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