We’re offering some borrowers a simple way to pay a portion of their loan directly to their creditors. Direct payments work like a balance transfer, and they’re easy to set up. If you receive an offer for a Direct Pay or balance transfer loan, here’s how it works:
- Select the loan offer that works best for you.
Each offer includes a minimum amount that must be sent directly to your creditors.
- Tell us which creditors you’d like to pay.
You can make direct payments to thousands of creditors and financial institutions for several kinds of debt, including credit cards and term loans. You provide your creditors’ names, your account numbers, and the amount you want to pay each of them in your To-Do List. For tips on selecting creditors, see Setting up direct payments to your creditors.
- Once your loan is approved, those creditors will be paid directly from your loan.
The rest of your loan will be deposited into your bank account. After your creditors are paid, we won’t be able to cancel your loan.