Regional Finance Sent Me a Check in the Mail — What Should I Do?
📌 Key Takeaways
- A check from Regional Finance is a "live check" — cashing or depositing it activates a loan agreement.
- Read all terms on the accompanying letter before you deposit it.
- If you don't want the loan, destroy the check — do not deposit it.
- To stop future offers, opt out at optoutprescreen.com (official FTC site).
- Verify it's real: call Regional Finance directly at their official number before depositing.
What Is a "Live Check" from Regional Finance?
them, like many consumer lenders, periodically sends prescreened loan offers in the form of an actual physical check to consumers who meet certain credit criteria. This is known as a "live check" or "convenience check."
Unlike a standard loan advertisement, a live check is a real financial instrument. If you sign and deposit it, you are agreeing to the loan terms printed on the accompanying paperwork — including the interest rate, fees, and repayment schedule. The CFPB has published guidance on live checks, noting that many consumers are confused about what they are and do not read the fine print before depositing.
Regional Management Corp. reported sending millions of live checks annually as part of its marketing strategy. This practice is legal, but it creates risk for consumers who act without reading the terms.
How to Tell If the Check Is Real or a Scam
Scammers sometimes send fake checks designed to look like legitimate lender offers. Here's how to verify a the lender check:
- Look for Regional Management Corp. / this lender branding — the check and accompanying letter should clearly state the company name.
- Find a phone number and call it independently — look up the company's official contact information at regionalfinance.com, then call that number to confirm the offer. Do not call a number printed only on the check itself.
- Check the routing/account numbers — legitimate checks have valid bank routing numbers that you can verify.
- Scam red flags: Requests to pay fees before cashing, grammar errors, missing address, pressure to act immediately.
Should You Cash the Check?
Only cash the check if all three of the following are true:
- You genuinely need a personal loan right now.
- You have read and understand the full APR, loan fees, term, and monthly payment.
- You have compared this offer with at least one alternative lender and this is the best deal for your situation.
If you need a loan but haven't compared rates, use our free rate-check tool before depositing the check. You may qualify for a lower rate elsewhere — especially if your credit has improved since the lender prescreened your profile.
If you do not need a loan right now, destroy the check (shred it) and do not deposit it.
What If You Already Cashed It?
If you have already cashed or deposited the check, you have entered into a loan agreement. Here are your next steps:
Review the paperwork that came with the check. Note the APR, monthly payment, total repayment amount, and any fees.
If you believe you made a mistake, call this lender's customer service right away. Some states require a right-to-rescind period.
If you're keeping the loan, set up autopay to avoid late fees and protect your credit score.
If terms were misrepresented or unclear, file a complaint with the CFPB at consumerfinance.gov/complaint and your state's financial regulator.
How to Opt Out of Live Checks (and All Prescreened Offers)
Prescreened offers — including live checks — are sent based on information in your credit file. The Fair Credit Reporting Act (FCRA) gives you the right to opt out.
Official Opt-Out Method
Website: optoutprescreen.com (administered by the major credit bureaus, authorized by FTC)
- 5-year opt-out: Complete online in about 2 minutes.
- Permanent opt-out: Complete online and return a signed form by mail.
This opt-out applies to all prescreened credit and insurance offers, not just the company.
Frequently Asked Questions
Sources: CFPB — What is a live check loan? · FTC — Prescreened Offers of Credit · optoutprescreen.com · Regional Management Corp. 10-K filings