Frequently Asked Questions

A SPOT is a little financial help between people who know and trust each other. Spot-Ya helps track the amount, due date, payments, and reminders so everyone stays clear.

You can only send a SPOT to someone in your trusted network.

Pick someone in your trusted network, enter the amount, choose the payback plan, and send the SPOT. Simple.

Yes. Choose a trusted connection, enter the amount you need, and send the request.

Spot-Ya keeps track of balances, payments, due dates, and progress so everybody stays on the same page.

Yes. Life happens. You can request an extension from the SPOT details page. Two are automatic for a small platform fee. Beyond that, the Spotter must accept or decline it.

Spot-Ya helps keep things clear with reminders, due dates, and payment tracking.

A Spot Agreement helps put the key terms in writing so both users understand the amount, timing, and repayment terms. It is also a legally binding agreement that can be used as evidence in any court matters.

Most verifications are completed within a few minutes. If there are any issues with your verification, a member of our team will contact you with additional information.

If we are unable to verify your identity or approve your account, don't worry—you may contact Spot-Ya Support to request a review. In many cases, additional information or documentation may be all that's needed. Our team will review your request and respond within 24 hours..

No. Spot-Ya helps trusted people track SPOTs between each other.

Keep a record of your agreement, payments, and communication. If an unpaid SPOT qualifies as a bad debt under applicable tax rules, those records may help support a deduction—which could lower your tax liability.

For U.S. federal tax purposes, a nonbusiness bad debt must be a genuine debt that becomes totally worthless. It is generally reported as a short-term capital loss, subject to capital-loss limits. A missed payment alone does not establish eligibility. See IRS guidance ↗