Fora Credit Inc.
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Helpful but...
I'm thankful first of all, that they were able to lend, and extend, a hand when I needed it most. The screening was pretty straightforward. The policy and fees are clear as well. The only downside or gripe for me is that the monthly payment computation is a 70/30 split. 70% interest and only 30% of the amount goes to principal. I understand this a business. I understand that they did help me at the beginning, despite my low credit score, at the time I needed emergency money. However, given this ratio, it proves quite difficult to get out or pay it off early. The only way they said I can significantly add to the principal is to pay more on top of what their system computes I pay monthly. At this time, I am still struggling with my finances as I do live paycheque to paycheque. It's embarrassing but its just honest truth. It's a slow and painful road to recovery, if it even leads to that. No offense to Fora but this is how I see it and feel about it right now. How I wish there was some kind of reward or incentives, like adjusting that ratio in favor of putting more onto the principal.