Frequently Asked Questions

Learn more about IOU Credit Services, who we are, details on loans and other services we provide.

F.A.Q

We are a third-party credit providing company with high level of customer service and satisfaction with over 10 years of experience merging borrowers to their most suitable lenders in few easy steps.
We have franchise with the best lenders across the United States and this have made it easy to create a forum for zero or minimal payback rates on every loan we give to our customers.
Every lender has its own methods of evaluating borrowers and determining rates, so it’s a good idea to compare prequalified rates from more than one lender. Generally, the shorter the loan term, the lower the interest rate offered by most lenders; and the better your credit score and credit report, the better the interest rate you can qualify for. Some lenders even offer an autopay discount if you authorize your monthly loan payments to be directly withdrawn from your bank account.

Qualifying for the lowest rates offered by a lender is dependent on your online application, credit approval and score, loan terms, and other factors. Through Credible, you can easily compare loan offers, loan terms, origination fees, monthly payment amounts and repayment terms.
Using IOU to check your rates doesn’t affect your credit score. Here’s how it works: Our prequalification process uses a soft credit inquiry that allows you to see personalized rates without you having to apply for a loan.

There is no obligation to proceed with any of the loan options presented on your dashboard, but if you see a loan offer with one of our partner lenders that you'd like to proceed with, you'll be asked to authorize a hard credit inquiry when you apply for the loan. A hard inquiry can impact your credit score by two to nine points, but typically by no more than five.
How much loan you can borrow depends largely on your debt-to-income ratio, which is how much of your monthly income goes to paying ongoing obligations like your rent, car payment, or credit card and other bills. Many lenders also have minimum credit score requirements for credit approval.

The upper limits for personal loans vary by lender but typically fall in the $200 to $200,000 range while other loans as mortgage and business loans vary from $10,000 to $50,000 for first time loan and can have access to up to $2,500,000 loan offers if payment(s) is made before due time. However, lenders in our marketplace offer loans to qualified borrowers after subsequently paying back loans before deadline day.
Once you’ve completed the loan application process, our team of experts shall review your application and you will get preapproval immediately if your details are input correctly. Most lenders can fund your loan by the next business day, or 2-3 business days (though it can take up to about a week, depending on the lender and your application).

For more information, feel free to reach out to our customer service for detailed explanation.
Yes, you can still get loan approval with a bad credit score here at IOU-Credit Network. However, the terms and interest rates may be less favorable than for those with good credit. Also have in mind that our systems of loans also help to build your credit score in little time duration compared to our competitors.
Nevertheless, it is important to understand that we carefully compare terms and rates to best favor our customers.
Please check the loan agreement sent to your email concerning the received loan, as each loan may vary.
We take privacy seriously, that is why we use industry-standard encryption on our website so that third parties cannot intercept your data. You can also look our privacy policy on more details on this.