Does Laurel Road call your employer? This question is about Laurel Road

Does Laurel Road call your employer?

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This question is about Laurel Road

Grace Enfield, Content Writer

@grace_enfield • 07/29/22 This answer was first published on 07/29/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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No, Laurel Road does not call your employer. Laurel Road instead uses the financial information and documents you provide during the application process, like a W-2 form, bank statement or pay stub, to verify that you are employed and that you have enough income to afford the loan.

For more information, check out the full Laurel Road personal loan review on WalletHub.

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Do personal loan companies call your employer?

Personal loan companies may call your employer simply to verify that you are employed where you claim to be. This helps the company determine if you are actually eligible to receive a loan, as a big part of whether or not you can get a loan depends on your income. Not all personal loan companies will contact your employer, though, and if they do they will not tell the employer that it is in regard...

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Does a Laurel Road personal loan affect your credit score?

Yes, a Laurel Road personal loan does affect your credit score, both when you apply and during the entire time that you are paying the loan off. Initially, a Laurel Road personal loan will affect your credit score in a negative way, but the long-term impact can be very positive, assuming you repay the loan on schedule.

How a Laurel Road Personal Loan Affects Your Credit Score

Hard pull: When you apply for a...

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How can you get Laurel Road personal loan pre-approval?

You can get Laurel Road personal loan pre-approval through the Laurel Road website. Laurel Road pre-approval allows you to see your odds of approval for a personal loan from Laurel Road, as well as your potential interest rate, and the process will have no impact on your credit score.

How to Get Laurel Road Personal Loan Pre-approval

Go to the Laurel Road website.
Click on Check Your Rate in 5 Minutes.
...

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