Payoff Personal Loan Review- Loan up to $35000
Payoff is a company that offers personal loans to individuals residing in the United States. The goal of Payoff is to enable their borrowers get out of debt by borrowing money to them so that they can pay off their existing debt. You can use the Payoff personal loan to pay off your credit card debt. Payoff offer a loan amount ranging from $5000 to $35000 with a very low interest rate ranging from 8% to 25% APR. The maximum repayment period for a Payoff loan is 60 Months. If you live in the following states you cannot apply for a Payoff loan, Alabama, Arizona, Connecticut, Delaware, Lowe, Kansas, Louisiana, Massachusetts, Minnesota, New Hampshire, South Dakota, Vermont, West Virginia and Wyoming.
Requirements needed to apply for a Payoff loan
To apply for a Payoff loan you must be a U.S citizen residing in the United States except the following states mentioned above. You must meet the following requirements
- Your credit score should be 660 or higher.
- Your debt-to-income ratio should be 50% or less.
- You must have at least 3 years of good credit history.
- You should be current on all of your debts. That is currently paying your debts.
In case you have found yourself on debt and looking for a loan to pay off your debt then Payoff personal loan is the right choice for you.
How to apply for a Payoff personal loan
To apply for a Payoff personal loan you will need to visit the company’s website. On their website you can check for your estimated rate of a loan by entering your name, date of birth, salary and other details. The company conducts a soft credit check and a representative may contact you to suggest a loan amount that may be good for you based on your financial situation. The loan amount they offer to you may be lower than what you asked for.
Once you are qualified for a Payoff loan, the company will need you to verify some information you have provided on their website. Once the verification is complete and your application approved, funds will be deposited into your bank account the next business day.
After the Payoff loan approval
Once the borrower application for a loan is approved, funds are deposited into the applicant’s checking account the next business day. The repayment period for the loan depends on the agreement between the borrower and Payoff. Extending the repayment period for the loan for several Months means more interest rates.
How to contact Payoff
Borrowers can get customer support via live chat on their website during business hours if they want quick answers to questions. Borrowers can also contact Payoff by phone or emails as all these information are available on their website. Their physical address is also available on their website. Their head office is in California.