We pride ourselves on flexibility and customizations, so here are the scenarios in which you can and cannot edit a loan!
Pending Loans
For any loan that is still in the Pending state, you can request an edit of your loan by selecting the Edit Loan button that should be at the top of your screen when viewing your loan details page.
Once clicked, you'll be presented with the opportunity to edit all the details of your loan, including:
- Principal
- Interest Rate
- Term Length
- Repayment Start Date
- Premium Features, and more!
We'll save the proper edits for you, and then notify your loan counterpart so that you can both get back on track 🙌
Just a Heads Up: Once a party accepts the existing details of a Pending loan, it can no longer be edited and the Edit Loan button will not appear on your loan details page.
Active Loans
For any loan in an Active state, we, unfortunately, cannot make any edits to your loan details, aside from the payment due date.
Loans in this state have already been reviewed and agreed upon by you and your loan partner, so in order to stay a neutral third party in your transaction, we cannot make any changes to an activated loan. You will need to create a new loan with any additional details you want.
To change the payment due date of an Active loan, you first must be the Lender of your loan. If you are the Lender, you can navigate to your loan details page and click the pencil icon located next to the words Next Due Date. Upon clicking it, we'll display a pop-up notifying you that you can alter the date you would like your repayments due. So for example, if repayments are currently due on the 3rd of the month, you can move it to the 7th of the month.
Just a Heads Up: We allow this change only once per loan term, and up to a 30-day window from the original payment due date.
And in case you are stuck, or need additional customization aside from simple changes to your loan - you can always create a new loan, by going to the home screen of your dashboard and clicking Create New Loan.