Has Anyone Successfully Settled or Consolidated Multiple Affirm Loans?

[u/Standard_Listen628]

Has anyone here successfully consolidated multiple Affirm loans or worked out a hardship/payment plan directly with them?

I’m currently overwhelmed with multiple BNPL payments and while I’ve stayed current, the monthly payments have become unsustainable and are draining my entire paycheck. I reached out to Affirm already and they basically told me there are no consolidation options available.

I’m trying to figure out realistic options before things get worse. Has anyone here let Affirm accounts go delinquent and later been offered a settlement payment plan for a reduced balance once it went to collections? If so, what was your experience like and how badly did it affect your credit long term?

I’m trying to handle this responsibly and figure out the best path forward, so any real experiences or advice would really help.

[u/Reasonable_Shine_841]

First. Learn control. Off you are going to use affirm what’s the most you can afford in payments a month? Do not go over that combined.

Now that we are here what can we do? T his is what I tell people. Look at your monthly expenses. Where can you cut back on non essentials and also buy cheaper brands? Off you can find an extra $20-$30 a month perfect. Apply that to your lowest affirm loan. Once that’s paid off take that payment and the extra you were adding and add that to the next lowest loan. You will get them paid off quicker than you realize. From there only use affirm for emergencies, ie something necessary for work or home broke and can’t be fixed or done without. That’s when you use affirm.

[u/X-KaosMaster-X]

You need to apply for a personal / consolidation loan..then use that money to pay off the loans.

I don't know your credit score or income...or how much you have borrowed from. Affirm so....

[u/sexualtourist → u/X-KaosMaster-X]

Not a good idea. The OP will eventually end up with more BNPL loans AND a debt consolidation loan.

[u/PerfumeDuckie]

I wish I could do this as well; I made a post around a few weeks ago, asking if they would refinance the loans similar to what you are asking. I wanted monthly payments to be around $200 less per month. What people told me is to reach out to Affirm and ask for to defer for a month at a time. Some people told me Affirm will do it for up to two months. Personally, this isn't something I want to do unless I absolutely have to. My opinion, if possible to avoid a situation like this is to sell things on Marketplace, Mercari or eBay etc. Other reason why I suggest this, is because purchasing power will be affected for the rest of the year. If possible, it's better to try and find the money somewhere to pay Affirm, instead of defaulting. Because of the economy were are in. Someone like me who doesn't have credit cards, and only uses Affirm, I don't want to burn the bridge of not being able to use it for the rest of the year, if an emergency situation comes up, and that's all that's there, this is my main reason why I haven't reached out to them personally to defer a month of payments. I know moving forward have to try to be more reasonable with using Affirm, because it can become a trap if you let it.

[u/Ritamaria1964]

I had used affirm for many years had multiple multiple lungs open and always paid them. My husband suffered a major heart attack at the same time that I got seriously sick was in the ICU on ventilation had to go to inpatient rehab for two weeks after a nine day hospital stay there was no money. Affirm would not help in any way shape or form no hardship no nothing I had almost $2000 in open loans but I had always for many years paid all my loans on time if not, I ahead of time they would not help me. My husband was incapacitated could not speak for two weeks. They wouldn’t even discuss it with me. No matter what I showed them no matter what I told them no matter, I’ll get a doctor on the phone after I was in rehab cause I knew it was gonna be out of control. I could not pay after we both got out of the hospital. The only thing they offered was a temporary pause but told me when it went back, it was all gonna be due. There was absolutely no help offered. I had no choice to let it go. They sent every single separate account to collection not as a whole individually. There were many many accounts individually. The total was about $2000 that ruined credit wise it’s been two years in the beginning. Every single account was marked late every single month with a credit score of 740. They brought us down to around 450 I think was still struggling. I did find other by now pay later that would help but I am still two years later not even able to open a discussion of paying it back somehow they will not even consider it. they did and they will report each individual account and mark it late every single month. This was a disaster beyond my control thank God we both made it but what it did to our credit. I still can’t repair and believe me. I’m about so many emails begging for help be very careful. These loans can get away from your real quick, and everybody is one paycheck away from a disaster. At least a lot of us are if there’s anybody out there from a firm that has any suggestions I’d love to hear them.