Can FigLoans report me to credit bureaus for non-payment?

Yes—but here is the twist: they also report ON-TIME payments.

This is FigLoans' primary selling point and a major difference from predatory lenders who only report defaults.

What FigLoans Reports to Credit Bureaus:

The Grace Period:

FigLoans gives you a 30-day grace period before reporting any missed or late payment to credit bureaus . This means if you miss a payment, you have 30 days to make it right without damaging your credit score.

What Happens After 30 Days:

• The missed payment is reported to TransUnion
• Your credit score may drop
• The negative mark stays on your credit report for 7 years

What About Deferrals?

If you request and receive a payment deferral, FigLoans will NOT report it negatively to credit bureaus . Your credit report remains unaffected during the deferral period.

NSF Fees:

If a payment fails due to insufficient funds, FigLoans charges a $45 NSF fee. However, if you make the payment within 3 days of the failed attempt, this fee is waived .

Your Rights Regarding Credit Reporting:

• You have the right to dispute any inaccurate information on your credit report directly with TransUnion or Equifax 
• You have the right to request your free annual credit report from AnnualCreditReport.com
• You have the right to add a "consumer statement" to your credit report explaining any negative mark

Bottom Line: FigLoans is one of the few short-term lenders that actually helps you build credit if you pay on time. But if you default, they will report it—and that will hurt.