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

Peerform does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Peerform requirements to be considered, such as be at least 18 years old and be a US citizen or permanent resident or immigration visa holder. You have a good chance of getting approved if you meet all of these requirements. Peerform Personal Loan Requirements Be at least 18 years old Be a US citizen or permanent resident or immigration visa holder Must have a Social Security number Have a credit score of 600 or higher Must live in states other than Connecticut, North Dakota, Vermont, West Virginia or Wyoming, bank account If you want a better idea of what personal loans you may qualify for with your income, you can use WalletHub’s free pre-qualification tool . Note: Peerform may not be accepting new personal loan applications at this time.

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Does Peerform verify income for personal loan applications?

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This question is about Peerform

Grace Enfield, Content Writer

@grace_enfield • 11/25/21 This answer was first published on 11/25/21. 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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Peerform does verify income for personal loan applicants to confirm that people can repay what they borrow, but it does not disclose a minimum income requirement. You also have to meet other Peerform requirements to be considered, such as be at least 18 years old and be a US citizen or permanent resident or immigration visa holder. You have a good chance of getting approved if you meet all of these requirements.

Peerform Personal Loan Requirements

Be at least 18 years old
Be a US citizen or permanent resident or immigration visa holder
Must have a Social Security number
Have a credit score of 600 or higher
Must live in states other than Connecticut, North Dakota, Vermont, West Virginia or Wyoming, bank account

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

Note: Peerform may not be accepting new personal loan applications at this time.

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How to Apply for a Peerform Personal Loan

Check for pre-qualification.… read full answer Pre-qualification is a way to check your approval odds and potential rates before applying for a Peerform personal loan. It doesn’t hurt your credit. You can check for pre-qualification on the Peerform website.

Enter your personal information on the application. Peerform requires the following personal information on the application: your full name, home address, home phone number, date of birth, email address and prrof of identity.

Enter your financial information on the application. Peerform requires the following financial information on the application: your annual salary and wages.

Double check the application for accuracy. To ensure that your Peerform personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.

Submit your application. Peerform will typically provide a decision on your application within 1 to 14 days both for approval and funding.

If you are approved for a Peerform personal loan, you will generally receive the funds within 1 to 3 business days after approval. After that, it’s your responsibility to make monthly payments until you have fully paid back your loan, including interest.

Note: Peerform may not be accepting new personal loan applications at this time.

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Does Peerform do a hard inquiry?

Yes, Peerform does a hard inquiry when you apply for a loan. This credit report inquiry will likely drop your credit score by about 5 to 10 points, but you'll be able to get back on track with a few months of on-time payments.

Peerform's hard inquiry will stay on your credit report for two years, but it won't affect your credit after one year, and the impact may subside before then. To see how your individual credit score may be affected by a hard inquiry, you can use the … read full answer credit score simulator on WalletHub.

It's worth noting that some people may be uncertain about whether Peerform does a hard inquiry because there's only a soft inquiry during the pre-qualification process. Soft inquiries do not impact your credit score. But that's just the first step, and a hard inquiry is required when you officially apply.

If not having a hard inquiry is important to you, lenders that don't do a hard pull at all include OppLoans, NetCredit, and Integra Credit.

Note: Peerform may not be accepting new personal loan applications at this time.

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