Yes, borrowers may move their loan payment date earlier or later by 15 days. When borrowers obtain a loan through our platform, their payment date is automatically set to the day of the month that the loan was issued.
Sometimes this date is inconvenient for borrowers. For example, if a borrower’s payment date is on the 10th of the month and the borrower gets a new job that pays them on the 15th of the month, they may want to move their payment date to coincide with their payroll date.
We allow payment date changes as a convenience to borrowers. We also believe this policy is a benefit to investors as it may make it more likely that borrowers will be able to make their payments on time. This may change their amortization schedule, which may result in fewer or additional monthly payments.