Payment relief

Personal loan payment relief guide

You have questions. We have answers.

Learn the details about personal loan payment relief and how it might impact your credit.


Frequently asked questions

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Generally, short-term payment relief is for no more than 90 days. Payment accommodation may be available if your account is eligible.

Yes, you can. However, penalties for missed payments prior to providing payment relief will still apply.

No, either of you can request relief. In some cases, we’ll need to get everyone on the account to sign. Don’t worry—we’ll let you know what we need.

For credit card accounts, only the card owners can apply. Authorized signers on credit card accounts can’t apply for short- or long-term relief. 

If you’re able to resume normal payments, that’s great news! We hope it’s a sign of positive changes to your financial situation.

You’ll want to reestablish automatic draft (ACH) or bill pay if that’s your preferred method of payment.  Beyond that, no further action is needed. 

Let’s talk. You might qualify for a loan modification— a change made to the terms of your existing loan agreement. It may involve a reduction in the interest rate, an extension of the length of time for repayment, a different type of loan, or any combination of the three.

Loan modification generally requires you to have some form of income, even if it’s less than when you originally applied for your loan. There are other qualifications and eligibility requirements, so not all clients will qualify.

To talk to us about next steps, reach out to a member of our team, Monday-Friday, 8 am to 5 pm EST.


Auto loans:

Personal credit card:

Ready Now Lines:

Small business card:

Home equity:

Installment loans:


If you’re approved and enter into a loan modification, then we’ll report any change in terms to your existing loan agreement to the credit reporting agencies. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.       

Creditors may consider payment relief to be an increased credit risk, which may impact your ability to obtain additional financing, such as a new home loan or refinance of an existing loan. 

Additional resources

Up next in the guide

Learn how you can come out of payment relief feeling financially prepared for any future challenges that may arise.