When the agreed-upon amount has been satisfied, your account will be reported to the credit reporting agencies as settled for less than the full amount, which may impact your overall credit standing.
Please be aware that OppLoans is a data furnisher, meaning that we supply information to the credit bureaus. That information is then used by ...
Everyone’s situation is different. To see if you qualify for a settlement agreement, please check the customer portal or call us at (855) 408-5000, and one of our representatives will be happy to help.
A settlement offer refers to an agreement between a Creditor and a Borrower in which a reduced payment from the Borrower is agreed to in order to satisfy the outstanding debt.
You have until the agreed-upon date to pay the settlement amount in full. When the full settlement amount has been paid, your account will be reported to the credit reporting agencies as settled for less than the full amount, which may impact your overall credit standing.
If you have existing payments set up, they will count ...
OppLoans offers a range of settlement offers depending on what best fits your financial needs. Please log in to the customer portal to view your specific offers.
If your needs ever change, you can cancel your existing settlement agreement for an alternative settlement offer or pay your balance off in full.
There may be tax implications associated when the loan is settled, and you may receive a 1099-C tax form from the IRS. We encourage you to speak to a tax professional.
Customers who settle their loan are not eligible to apply for a loan in the future through the OppLoans Lending Platform.