At Fig, we know that unforeseen challenges may arise that could impact your ability to keep up with loan payments. If you find yourself in a situation where you may have missed or are about to miss an upcoming payment, we are here to help. Fig offers several options to support you during this time including:
Loan payment protection plan
In the unfortunate event of unexpected job loss or illness, if you are enrolled in our loan payment protection plan, you may be eligible to file a claim for coverage of your loan payments.
For more information about payment protection plans, please refer to Payment Protection Types and Benefits.
Defer upcoming payment
You may consider deferring your upcoming payment to provide yourself with some short-term financial relief.
Note: Payment deferrals are not available for accounts:
- Before a first loan payment
- In bad standing
- Which have been deferred in the last 12 months
For more information about payment deferrals, please refer to the following article: Manage and make my Fig loan payments.
Payment arrangement
You can pay the past due amount in smaller instalments to bring your loan back on track. Please contact us to find out if you qualify for this arrangement.
Extension of Term
If you are experiencing financial difficulties, you may be able to reduce your regular payments through extending your loan term. Please contact us to determine your eligibility for this option.
Note: By extending the term of your loan contract:
- The amount of interest that accrues over the lifetime of your loan will increase.
- Once extended, we will be unable to reduce the term of your loan contract.
Contact Us
We encourage you to contact us as soon as possible to work together to discuss how we can best support you during these challenging times.
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