Paycheck Linked Loans
Use Truv's Paycheck Linked Loans product to direct loan payments from paychecks.
Truv's Paycheck Linked Loans (PLL) product allows your users to repay loans. You can redirect a specified dollar amount from their payroll provider and paycheck to your account.
Truv gathers and modifies data from a trusted source. Reduce loss rates and increase market serviceability when you enable customers to pay loans directly.
Use PLL to deduct loan payments from your user’s paycheck. Complete transactions and update settings for direct deposit instantly instead of waiting.
Use cases for Paycheck Linked Loans (PLL)
These points are examples of scenarios for Paycheck Linked Loans (PLL).
- Automatically receive loan payments through preset paycheck distributions to mitigate risks of defaulting
- Service subprime customers with no or low credit scores
Use the guides below to begin integrating Truv's PLL product into your workflow.
Updated 17 days ago