Loan Repayment Programs

Feeling stressed about your standard monthly payments?

We may be able to help you. Call us today to learn more about payment options.

1-877-256-2660
Image of a woman working on her finances with a calculator and computer

When making payments becomes difficult, Discover® Personal Loans wants to work with you.

If you call us at 1-877-256-2660, we can determine if you are eligible for a payment assistance program. Our repayment programs are intended to provide relief with your monthly personal loan payments so you can pay off your debt.*
Icon of a calendar

Payment deferral

How does it work?

Become current after making 3 consecutive standard monthly payments or the equivalent within 3 consecutive months. The amount past due will be delayed to the end of the loan term.

This could be a good option if you're behind on past payments, but can make your standard monthly payments going forward.

Icon of an alarm clock

Short term assistance

How does it work?

Temporarily make lower payments that will gradually increase in the last 3 months of the program to return to your standard monthly payment amount. The amount past due will be delayed to the end of the loan term. Then your account will become current.

This may be the right option for you if you've had a temporary change in your financial situation.

Icon of an envelope with a ribbon on top of it

Long term assistance

How does it work?

Make lower payments by extending your loan term, plus become current after program enrollment.

If you're experiencing a long-term hardship, this option may work for you.

Get More Help from the National Foundation for Credit Counseling

Consider addressing your debt with an independent party.

Life doesn't always go according to plan, and sometimes that means having more debt than you intended.

The NFCC provides credit and debt counseling including guidance on how to manage your money, solutions to financial issues and a plan to prevent future problems specific to your situation.

Call 1-800-388-2227 to speak with a certified credit counselor.

Need Help?

Please call us at

1-877-256-2660

 

Our Loan Specialists can determine if you qualify for payment assistance options to help bring your account current.

 

*If your account has been active for at least 6 months.

PO Box 30954
Salt Lake City, UT 84130-0924

 

Your APR will be between x and x based on creditworthiness at time of application for loan terms of x-x months. For example, if you get approved for a $15,000 loan at 13.99% APR for a term of 72 months, you'll pay just $309 per month.

You must have a minimum individual or household annual income of $25,000, be over 18 years of age, and have a valid US SSN to be considered for a Discover personal loan. Loan approval is subject to confirmation that your income, debt-to-income ratio, credit history and application information meet all requirements.

Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. State restrictions may apply.

For debt consolidation, even with a lower interest rate or lower monthly payment, paying debt over a longer period of time may result in the payment of more in interest. A Discover personal loan is intended for personal use and cannot be used to pay for post-secondary education, to pay off a secured loan, or to directly pay off a Discover credit card.

If your application is approved, we will send funds after you accept the loan. Your bank or creditor may take more days to process the funds.

Your California Privacy Choices California Consumer Privacy Act (CCPA) Opt-Out Icon

© 2024 Discover Bank, Member FDIC