Frequently Asked Questions
Loans
Answers to your questions about loans.
How does Pigeon work?
How do I create a loan?
Can I import and track existing loans?
Who can create a loan?
Will Pigeon lend me money?
Are there any limits to the loans I make on Pigeon?
How can I make a loan over Pigeon's limits?
Can I delay the start of repayments on my loan?
Can I create a custom repayment schedule for my loan?
Can I create and start a loan outside of the United States?
Can I edit a loan?
Can I cancel my loan?
Can I create a legally binding contract?
Are contracts from Pigeon legally binding?
Can I add a contract to an already active loan?
How is interest applied on a loan and how do repayments affect the remaining outstanding debt?
What is the difference between Simple Interest and Compound Interest?
If I am lending money to my friends and family, how do I know I will get paid back?
What happens if the Borrower cannot pay off the loan within the time frame initially agreed upon?
Do I have to pay taxes on my loans?
Why is the start date of my loan one day earlier than expected?
Accounts
Answers to your questions about account management and setup.
Payments
Answers to your questions about payments.
How do payments work?
How long does it take for money to deposit after sending a payment?
Can I schedule automatic payments to repay my loan?
What portion of my payments went towards paying off accumulated interest vs principal?
How do I cancel an outgoing payment?
What is an Offline Payment?
Will Pigeon deny any payments?
What if my payment is declined, rejected, or bounces?
Premium Loans
Learn about features, pricing, and billing for Premium Loans on Pigeon.
Terminology
Answers to your questions about words or phrases you don't yet understand.
Everything Else
Answers to your questions about anything else you may be curious about.