Earnin has grown a lot in the past year, there are still a number of misconceptions and tragedies going around it. Here is all you will need to know about Earnin, and what will happen if you do not pay Earnin back!
What is Earnin?
Earnin is a digital platform which provides customers or borrowers money. And applies a condition that the customer or borrower will pay back the money once their paycheck is credited to the account. Of course, Earnin basically provides short term loans for the range of $10 to $1000. Earnin approves the transaction. And credits it in two to three working days. This will made easier if you use the app you like from Earnin.
A number of youngsters in the US are working part time to pay their rents and study fees. They get daily payments from their employers. Earnin asks for the account number. And then debit the borrowed money. A borrower can pay or avoid a tip.
What if you do not pay Earnin back?
Earnin is not registered as a money lender. It says that it is just providing the money for an indefinite time. And does not ask for a profit. But the customer still has the option to tip them with which they will earn.
You have to create an account on Earnin and borrow some money for a short time. Once you receive the money from your employer, you can pay back Earnin with a minimum tip.
If you decide not to pay back to Earnin, the maximum Earnin will be able to do is to freeze your account until you pay it back.
Will the representatives search for you if you don’t pay Earnin back?
Of course, Earnin does not have that right as it is neither a bank, nor a registered money lender. They will just keep calling you. And asking you to pay them back. In addition, Earnin cannot send representatives to your house to pick up commodities to compensate for the borrowed money.
See Also…
How To Make Quick Money In One Day- (13 Reliable Methods)(Opens in a new browser tab)