When is My First Payment Due?
Your first payment is due immediately once Livble pays your rent. When you choose the “Split My Rent” option, the first installment (or “down payment”) is debited from your connected bank account right away. This due date cannot be adjusted, as it is directly tied to the credit limit we offer you.
You don’t need to make a payment when applying, though. You can apply first and choose to opt into split-rent later when it best fits your financial needs.
Livble’s rent window is typically open until the 5th of each month. This means you have until the 5th to opt into the split-rent option and make your first payment for that month. If you opt-in after the 5th, the split-rent option may no longer be available for that month. In that case, your rent payment will be due in full directly to your landlord, and you will need to re.
Can I Change My First Installment?
No, your first installment cannot be changed. The date and amount are directly linked to the credit limit Livble provides, and once you select the “Split My Rent” option, your first payment will be debited immediately. This ensures that your rent is covered, and the remainder of your payments can be split accordingly.
How is My First Payment Determined?
Livble calculates your first installment based on the details you provide during the sign-up process. This amount depends on factors like your rent, financial situation, and repayment history. Livble reassesses your account each month, so your installment amounts may change over time.
Important Note:
The initial downpayment amount displayed when you first split rent is only an estimate. The exact downpayment and installment options will only be available after you’ve completed underwriting and been approved. This assessment takes into account factors such as financial stability, spending behavior, and our company’s policies. The payment plan we offer will be tailored specifically to your situation.
Have Questions About Flexibility?
We understand that everyone’s financial situation is different. If you have any questions about how Livble works or would like to discuss your options, feel free to contact our customer support team. We’re here to provide guidance and answer any questions.