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How to close a Debt line?
Marcela Lobos avatar
Written by Marcela Lobos
Updated over 2 weeks ago

How to close a Debt line?

While we will be sad to see you go, you can close your Debt line by providing Sivo with 90 days notice. Sivo doesn't lock you into complicated agreements and exit clause fees, it's a simple case of repaying any outstanding payments and principal.

To begin the process, contact your Sivo Customer Success Manager or send a message to close@sivo.com.

What happens next?

Once you submit your request, your Sivo Customer Success Manager will reach out to provide next steps.

If there is an outstanding balance on your account (principal, interest, and fees), we will communicate a payment schedule to you to arrive at $0 and officially close the account. We will then issue a confirmation letter in the Activity >> Statements section of your Sivo account once all obligations have been addressed.

If your Loss reserve is higher than your outstanding balance, we will apply any pending interest incurred, and send the difference after review and approval from our finance department.

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