r/Affirm • u/UpstairsBeginning193 • 24d ago

Credit from affirm

I have a buddy who is about $4,000 in affirm debt and can’t pay it back he’s worried about how hard it will hurt his credit anyone been in a similar situation? How hard was your credit affected

4 Upvotes

75% Upvoted

9 comments sorted by

9

u/No_Barracuda_3758 24d ago

It will hurt as bad as any unpaid debt would

6

u/yatata710 23d ago

It's considered a loan from a bank so it Will impact just like any other unpaid loan.

6

u/shawdy2glok 22d ago

Stop asking questions in third person bro. 😂😂😂

2

u/Significant-Pie7797 22d ago

It will tank your score big time!

2

u/Romy90210 20d ago

By a friend.. you actually mean you right?

1

u/nopityforu69 23d ago

Whats was his credit to begin with its gonna be shockingly low and just wait till it gets pulled to collections i pay my bills and have never missed a payment and i keep my credit card below its 3k limit and i sit at about a 730 canadian btw

4k loan debt is gonna hurt

1

u/tragondin 21d ago

Call them up to see if they can come up with an adjusted payment plan.

1

u/Kingjosiahd 20d ago

Beat to try to handle it with the actual company then for it to hit collections. I was at $1300 with affirm. I just started to tackle my debt and saw it was in collections. Even after 5yrs it was still hurting more than more recent ones. I was fortunate to work with the collections jefferson capital and work out paying $320 and being done with it. The nice thing was their policy is Pay to Delete when balance shows 0. My score went up 54 points after that was paid.