Does OneMain Financial verify income for personal loan applications? This question is about OneMain Financial

Does OneMain Financial verify income for personal loan applications?

Answer Question Report Abuse

This question is about OneMain Financial

Grace Enfield, Content Writer

@grace_enfield • 02/21/23 This answer was first published on 11/25/21 and it was last updated on 02/21/23.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.

Permalink Report Abuse

Yes, OneMain Financial will require a proof of income when you apply for a personal loan. If you do not have any income, you can apply for a OneMain Financial personal loan with a co-signer, and OneMain Financial will verify that person’s income instead.

OneMain Financial may verify income by requesting financial information like bank statements, pay stubs or tax returns. In other cases, they’ll just use credit report information. Either way, you will also have to meet other OneMain Financial requirements to be considered for loan approval.

OneMain Financial Personal Loan Requirements

Be at least 18 years old
Be a US citizen or permanent resident or visa holder
Have a Social Security number or passport
Must live in states other than Alaska, Arizona, Arkansas, Connecticut, Massachusetts or Rhode Island

You have a good chance of getting approved for a loan from OneMain Financial if you meet all of these requirements.

If you want a better idea of what other personal loans you may qualify for with your income, you can use WalletHub’s free pre-qualification tool.

see this user

Shad Mehr, Member

@Fmehr • 01/27/22 This answer was first published on 01/27/22. 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.

Permalink Report Abuse

Nope, they only want a solid, high value collateral which includes your bank accounts, home mortgage and car information.

They are nice to leave your clothing alone and don't ask for your Nike shoes.

Answer Question

Does a OneMain Financial personal loan affect your credit score?

Yes, a OneMain Financial 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 OneMain Financial 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 OneMain Financial Personal Loan Affects Your Credit Score

Hard pull: When you apply for a...

read full answer

Does OneMain Financial allow cosigners on personal loans?

Yes, OneMain Financial does allow cosigners on personal loans, which means that a second person can serve as a guarantor on the loan. Because the cosigner promises to pay the loan back if the primary applicant cannot, OneMain Financial takes the cosigner’s credit score and income into account during the application process. As a result, people who wouldn’t normally qualify for a loan can apply with a cosigner who has a better credit score and income...

read full answer

How do I apply for a OneMain Financial personal loan?

To apply for a OneMain Financial personal loan, first check for pre-qualification and then enter your personal and financial information on the online application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for a OneMain Financial Personal Loan

Check for pre-qualification. Pre-qualification is a way to check your approval odds and potential rates before applying for a OneMain Financial personal loan. It...

read full answer

WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.

WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.

Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.

Ask a Question

140

Ask Question

Ask Your Question

WalletHub Transparency

We are committed to being fully transparent with our readers. Opinions expressed here are the author’s and/or WalletHub editors'. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. In addition, it is not any company’s responsibility to ensure all questions are answered.