Recently I had received an offer from Discover personal loan at 7.99% so I applied on line and they told me to call to complete the loan process. The first person who I spoke to gave me an approval with pending income verificaiton, I told him that I am on 1099 and I do not report all income on my tax returns so tax return is not a good source of income verificaiton, then he told me to send in other verification documents so I told him I'll send bank statements and copies of checks received from my employer.
He said that's fine so sent in all my copies of checks recieved form my employer for last three months as well as bank statements. I've been on the process for more than week now and when I called today to follow up, they said they can only go by tax returns and not any other documents. This is a really poor underwriting coming from a major company like Discover. I ended up talking to the supervisor and she admitted that she'll better train her employees.
What a hassel that I needed to go through to get a decline due to their mistake? I would never do any business with them ever again!.
Review about: Discover Personal Loans Loan.
Monetary Loss: $25000.