OMG, I cannot believe I was approved. I had awesome credit and in the last year the credit cards were maxed out. I wish I could say the spending was due to elaborate vacations but unfortunately they went toward doctors bills, vet bills and everyday living. With that said, my credit plummetted and I'm competely stressed. I applied last night and was already approved. Can't wait to pay off ALL of the debt, start paying this loan off and have more savingsgoing forward. Maybe I can take a small vacation if all goes as I'm hoping.
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Most Helpful Negative Review
I held a personal loan with Best Egg. Due to temporary personal hardship circumstances, I was unable to comply with my loan agreement and had to negotiate a settlement with the company.
I completed the settlement on schedule and the loan was closed.
Best Egg reported the loan as closed to the various credit bureaus.
Having fully understood the underlying tax implications, which will see the amount written off being designated as income on my next tax filing, I was hoping to see a possible increase in my credit score, having now closed an account and lowered my overall credit balance. However, Best Egg not only informed the credit bureaus that the account was closed, they also listed the account as a "derogatory" account. I would advise you that if you are unfortunate enough to hold a loan with Best Egg and be required to negotiate a settlement with the company, the company policy for reporting the account closure will not result in any hoped for increase in your credit score but will, instead, result in a minimum decrease of 85 points, due to the "derogatory" tag. Ask me how I know. I now look forward to the Best Egg boilerplate response, thanking me for reaching out to them, evaluating my concerns, and sending me a letter. I can't wait.
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