When you fill out NerdWallet’s personal loan pre-qualification form, here's what happens:
- We'll send your information over to partner lenders for consideration.
- The lenders will then review your information to determine if you are pre-qualified for a loan from them.
When you do not pre-qualify for a loan, you may receive what’s known as an adverse action notice from one of our or more of our lending partners, notifying you formally that your pre-qualification application was not approved.
Don’t be alarmed if you receive an adverse action notice - again, it’s just a formality, and does not mean that a hard review of your credit was performed, or that a formal loan application was submitted on your behalf.