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Peerform Personal Loans

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Most Helpful Positive Review

Dec 05, 2012
Straight forward process

Applied for a small loan to refinance some credit card debt. I wasn't approved.

The application process was clear and fast and I received my statement of denial fast.

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Most Helpful Negative Review

Dec 20, 2015
Dozens of Fake Reviews

On Nov 25th, I wrote a detailed negative review about PeerForm, and less than a month later dozens of positive fake reviews miraculously appeared. If you need proof, look at the fake reviews posted on December 8th. It 's a huge red flag when a financial company needs to leave dozens of fakes reviews to boost their rating. As I stated in my previous review, stay away from PeerForm. I normally do not leave bad reviews; I am not the type of person who trashes companies online. However, my experience with Peerform was so terrible, I had to leave a review to warn others. The preliminary loan process is fairly quick. You select how much you want to borrow and fill out some basic information. Peerform then does a soft pull on your credit report. I did not receive the amount I requested, but they offered me a counter offer, which I accepted. Within minutes, my loan was completely funded before I uploaded any documents. Within 24 hours, I uploaded all my documents including recent paystubs. I then had to wait three days for Peerform to withdraw a few cents from my checking account to verify my account. After my checking account was verified, my application was submitted to underwriting for review.  Within 48 hours, my loan was declined. The same credit report they used to make me a counteroffer, is the same credit report they used to decline my loan. Although the loan displays funded, you are not "approved" until the underwriting process is completed, which is not out of the ordinary. However,  Peerform withdraws money from your account before the underwriting process is completed. It seems counterintuitive to withdraw funds from consumer's checking accounts before the underwriting process is completed. In conclusion, it will take approximately 5 business days to receive the status of your loan, and only after Peerform withdraws money from your checking account. There are much better lending institutions, stay away from Peerform.

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Reviews (463)

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Oct 12, 2016
A Real Positive Review
Anonymous Borrower

I applied and received $2,500 within a week. The process was a little intensive but straight forward as the communication was pretty good. After carrying the loan for about 4 months I was able to pay off in full without any pre-payment penalties. The one concern is that I don't see them reporting to the credit bureaus. 

Overall pretty good. 

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Sep 30, 2016
I applied a second time

I'll follow uo on this  . I had a loan turned down a few months ago -- everyone else gives me loans immediately.  So, i'm trying again to see if these guys really fund loans.

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Sep 30, 2016
No one to fund their loans

Everyone is fully correct - they do not have enough people to fund their loans.  It appears too, it is very likely they are selling your information as the day I applied, I kept getting calls from payday loan and debt reconsolidation places.  Also, I agree some of the reviews are false as well as they aren't even posting all revies as my past one 'disappeared' and it was appropriate.

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Sep 28, 2016
No investors, they are collecting info

I'd have to agree with the others that something is quite odd when you can't get a $2,000 loan funded???? (I had a $1,500 in the past that got funded quickly).  Also, less than one day after I applied I started getting all these calls from many low life pay day loan companies --- hmmm, how did all of the sudden, my info get out there.  I refused to supply my paystubs, until they can show they can fund my loan --- appears they can't! 

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Sep 12, 2016
loan helped to consolidate some credit c
Anonymous Borrower

You don't get the full amount offered due to fees

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Sep 02, 2016
It was a very easy process overall.
JeskaCorrea Borrower

Process wass easy and money  was approved and in my account in less than a week.

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Aug 30, 2016

Filling application was simple but it took them 2wks to come with an answer. Denial.I considered that a waste of time that wasn't necessary. They could have said it earlier.

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Aug 29, 2016
Debt consolidation loan
mcflowe1 Borrower

Peerform is a good company to work with and I've had a good experience.  I received the loan after a short period of time.  The interest rate was not bad and I've not had any issues with the service or the website.  I would defintely use Peerform again.

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**Annual Percentage Rates, terms of loan, and monthly payments presented are estimated and were created based on analysis of information provided by the consumer and available rate information from lenders. While efforts have been made to maintain accurate information, the loan information is presented without warranty and the estimated APR or other terms presented do not bind any lender. Lenders generally have a range of available APRs (for example, a lender’s range might be 2% to 12%) and only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend upon factors evaluated at the time of application, which may include credit score, loan amount, loan term, vehicle information, credit usage and history. All loans are subject to credit review and approval. Additionally, model year, loan-to-value, minimum loan balance mileage, income, debt, etc. restrictions may apply. When evaluating offers, please review the lender’s Terms and Conditions for additional details.