Our responsible lending principles
Personify Finance App is committed to responsible lending practices that protect borrowers from unaffordable debt and unclear loan terms. We hold ourselves — and the Personify Finance lending partners we work with — to the following principles:
1. Ability-to-repay underwriting
Every Personify Finance loan is underwritten against the borrower's demonstrated ability to repay — not just a credit score. We consider verifiable income, existing debt obligations, housing costs, and banking patterns before approving any installment loan.
2. Full, transparent cost disclosure
Before you sign any Personify Finance loan agreement, you will see the full APR, origination fee (if any), finance charge, total of payments, and payment schedule in writing. These disclosures are required under the Truth in Lending Act (TILA) and we treat them as a floor, not a ceiling.
3. No prepayment penalties
Personify Finance personal loans carry no prepayment penalty. Borrowers who can pay down principal early will save on interest — and we encourage them to do so whenever possible.
4. Fixed, predictable payments
Personify Finance offers only fixed-rate installment loans — no revolving balances, no balloon payments, no payday-style rollover traps. Your monthly payment and payoff date are known from the day you sign.
5. Honest marketing
We don't make "guaranteed approval" claims. We don't advertise rates that only 1% of applicants qualify for. When we show an APR range, we show the full range — including the high end.
6. Fair collections
Borrowers facing hardship are encouraged to contact Personify Finance support before missing a payment. Options for genuine hardship may include payment date changes, deferments, or short-term reduced-payment plans. Collections follow the Fair Debt Collection Practices Act (FDCPA).
What responsible borrowing looks like
Responsible lending is a two-way street. Here's how we encourage Personify Finance borrowers to use our product responsibly:
- Borrow only what you need. A smaller Personify Finance loan costs less in dollar terms, even at the same APR.
- Compare with lower-APR alternatives first. If a credit union or online fair-credit lender will approve you at a sub-36% APR, that will almost always save you money.
- Set up autopay. Avoid late fees and protect your credit score.
- Pay more than the minimum when possible. No prepayment penalty — extra principal reduces total interest.
- Build an emergency fund. Even $500 in a separate savings account breaks the borrowing cycle.
If you're struggling with debt
Nonprofit credit counseling can help. Agencies accredited by the National Foundation for Credit Counseling (NFCC) offer free or low-cost budget reviews and debt management plans. If a Personify Finance loan isn't the right answer for your situation, we'd rather tell you so.
Military lending compliance
Personify Finance complies with the Military Lending Act (MLA), which caps covered loans to active-duty servicemembers and their dependents at 36% MAPR (Military Annual Percentage Rate). Covered borrowers receive required MLA disclosures and are prohibited from certain loan features.
Report a concern
If you believe a Personify Finance loan, communication, or practice does not meet these principles, we want to hear from you. Use our contact form or file a complaint with the Consumer Financial Protection Bureau.