Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.7
(20 Ratings)

LendingPoint PayOff

Advertiser Disclosure

Repayment of loan

The company offers several types of repayment options, including but not limited to: mailed-in checks, via the web, via the app, over the phone, and wire transfers. Most borrowers report using the automatic payment option in order to ensure that their payments are never late.

Paying off a personal loan with an automated payment is as easy as it gets. The process only requires you to set up your automatic transfer. It's a convenient system that, coupled with other adjustments, can shorten the repayment period.

Early Payoff, LendingPoint Personal Loan Default

Unlike other lenders, LendingPoint does not charge a fee for early payoff. The additional monthly payment can be made at any time via any method you choose.

If you fail to renegotiate the loan terms and end up defaulting on it, you will have to face severe consequences. Your credit score will take a hit and your default will be reported. Moreover, there's a very real possibility of dealing with debt collectors and being sued.

In order to avoid this, you should make sure you follow the repayment plan and avoid any unnecessary expenses. It's imperative that you, the borrower, have a plan on how to pay off the existing loan. There are many tips as to how to pay off early, including making additional monthly payments, increasing the monthly payment amount, refinancing, finding a side job, selling unwanted items, etc.

FAQ

Can you pay off LendingPoint early?

Yes, it's possible to pay off your LendingPoint personal loan early. The company will not penalize you if you want to get out of the loan earlier.

Will Lending Point sue you?

If you default on your LendingPoint personal loan, the company will pursue legal action. They will hire a lawyer to file a lawsuit to recover the amount of the loan and many fees and costs.

Financial products
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

3.66
(20 Ratings)
Recommended FinScore™
0
300
650
1000
2000.00 – 36500.00 $
Rate
i

Effective interest rate on the product

7.99 – 35.99 %
Term
i

Loan term for the financial product

24 months – 72 months
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
100.00 – 20000.00 $
Rate
i

Effective interest rate on the product

from 0.05 %
Term
i

Loan term for the financial product

5 days – 3 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
100.00 – 4000.00 $
Finanso
Personal Loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
2000.00 – 100000.00 $
Rate
i

Effective interest rate on the product

6.34 – 35.89 %
Term
i

Loan term for the financial product

2 months – 72 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.25
(20 Ratings)
Recommended FinScore™
0
300
650
1000
$500-$4,000
Rate
i

Effective interest rate on the product

up to 160%
Term
i

Loan term for the financial product

9-18 months
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All LendingPoint’s reviews by march 2024
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4
Advantages
I was concerned about my ability to make an upcoming payment, and the service representative informed me about assistance programs designed to support individuals in times of financial stress.
Complain
4.2
Advantages
I was extremely pleased with the level of customer service I received. Regardless of my needs or the representative I interacted with, I consistently received respectful and courteous treatment.
Complain
4.4
Advantages
I faced an incredibly tough financial situation, and the LendingPoint team provided me with a solution that offers short-term relief without pushing me deeper into debt.
Complain
2.4
Disadvantages
This company is absolutely terrible, and their customer service department is the worst. It seems like no one ever answers the phone, which makes me wonder if they even have live agents! I've wasted so much time emailing and calling, spending hours on hold with their automated system that just plays music, and I've never gotten a response. Using this company was a regrettable choice, and I wish I had gone with another option.
Complain
1.8
Disadvantages
I've been struggling to make my payment, and it's been incredibly frustrating. No one answers the phone, and the website is useless since I can't log into my account. This situation is becoming increasingly unreasonable, and I hope it doesn't affect my ability to make on-time payments.
Complain
4.8
Advantages
Throughout the entire process, they kept me well-informed. The customer service was truly outstanding!
Complain
4.2
Advantages
The LendingPointrepresentative who assisted me today provided a clear and concise explanation of my loan refinancing qualifications. He was exceptionally pleasant and effectively communicated the details of my situation, which I truly appreciated.
Complain
4.6
Advantages
This is the best lending service I've ever used. The money was in my bank account the very next day, and they are there to assist you when you need it the most. I recommend this company to anyone in need of financial assistance.
Complain
4.4
Advantages
I'm delighted with the friendly service and the representative's ease of collaboration. I'm genuinely grateful that they were willing to extend a helping hand when I needed it.
Complain
4.4
Advantages
LendingPoint has come to my rescue on multiple occasions. Their willingness to collaborate during tough times and their understanding when you communicate your situation is truly commendable. I can't express my gratitude enough – I'm incredibly thankful for their assistance.
Complain
Overall company rating
3.7
/ 5
20 reviews
Execution of an application
3.6
Support service
3.4
Mobile app
4.0
Service quality
3.8
Your satisfaction level
3.5
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