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On May 11th, I applied for a loan. 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.
It took about 2 weeks and i was down to one day before the Loan was supoosedly supposed to be ACH to my account. Then it gets canceled.
ONce again it said i was approved, everythign was funded. Then canceled. The company is a scam
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