ComplaintsforLendingClub Corporation

• Initial Complaint

  07/02/2024

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I am not liable for this debt with Lendingclub Bank NA, I do not have a contract with Lendingclub Bank NA, they did not provide me with the original contract as I requested.

  

  Business response

  07/11/2024

  Thank you for giving LendingClub Bank, N.A. (“LendingClub”) the opportunity to respond to Tammy A****** Better Business Bureau (BBB) complaint dated July 2, 2024. LendingClub strives to provide the **** best service to our customers and appreciates their feedback.

  When LendingClub receives an application request, we provide applicants with important documents prior to loan consummation. These documents include the Borrower Agreement and Truth-In Lending (TIL) disclosure. The TIL disclosure includes important information about their loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and accept the Borrower Agreement before submitting an application. Our records indicate Tammy A**** reviewed the TIL and accepted the Borrower Agreement on April 26, 2023. To view the TIL disclosure and other important documentation, please have them sign into their LendingClub account online at ****************
  

  As part of the application process for a balance transfer loan, LendingClub requests applicants to complete an email verification and fill out a balance transfer worksheet. The worksheet allows LendingClub to facilitate payments to the creditors of their choice. Tammy A**** completed their balance transfer worksheet for five (5) creditors.
  

  LendingClub records report that Tammy A****** balance transfer loan originated on April 27, 2023. No contractual monthly payments were received on the loan; therefore, the loan became delinquent.
  

  We give all borrowers a 15-day grace period to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due. Due to non-payment, their loan was charged off on September 29, 2023.
  

  LendingClub reports all account experiences—positive and negative—to one or more of the credit bureaus. Late payments, missed payments, or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. Charge-offs result in a negative mark on their credit report. Whether they have paid off the balance, settled it, or the loan is sold, the charge-off status will stay on their credit report up to seven years.
  

  On April 14, 2024, LendingClub records report that Tammy A**** agreed to and enrolled in a 24-month payment settlement agreement with us. LendingClub has received settlement payments from April 2024 to June 2024 on the loan.
  

  We appreciate Tammy A**** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If Tammy A**** has further questions about this complaint, please contact us by email at ******************************** or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

  Customer response

  07/11/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  
  Sincerely,
  
  Tammy A****

  Customer response

  07/12/2024

  I meant to choose I agree

• Initial Complaint

  07/02/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I took a debt consolidation loan on 6/3/2024. Two creditors were supposed to be directly paid by Lending Club and I received the balance of the loan directly. One of my creditors was paid off however the other ******* Lending was not. I have requested payment particulars so I could submit it to ******* but Lending Club has refused to provide me with details. I have had to continue to make payments to ******* Lending and now will make my first payment to Lending Club 7/3/24 and haven't received the complete funding for what I'm paying for. Lending Club continues to claim that they are working on the issue but have failed to give me any concrete evidence of a payment they made to *******. I just want my debt paid as agreed.

  

  Business response

  07/11/2024

  Thank you for giving LendingClub Bank, N.A. (“LendingClub”) the opportunity to respond to Dion C***** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  As part of the application process for a balance transfer loan, LendingClub requests applicants to complete an email verification, fill out a balance transfer worksheet, and link a valid bank account for deposit of the remaining funds. The worksheet allows LendingClub to facilitate payments to the creditors of their choice. When we’re notified that funds from a balance transfer loan have not been received by the creditor within 7 business days, we open a dispute claim. Dion C***** loan originated on June 3, 2024. On June 12, 2024, they notified us one of their creditors had not been paid. On June 18, 2024, after the creditor had still not processed the funds to the account, we began an investigation to determine why the funds had not been successfully received.
  
  Under normal circumstances, once funds are issued by LendingClub to the creditor, it is the responsibility of the creditor to either apply or return the funds, and we cannot reissue the loan funds until the creditor has returned the funds to us. Because there was an error in the distribution of funds to the creditor, LendingClub has initiated the process to issue the funds intended for the creditor to be sent directly to the bank account Dion C*** has on file. We appreciate their continued patience and sincerely apologize for the delay in resolution. LendingClub strives to provide superior service to all our members, and we're sorry we didn't meet expectations. We will use their feedback to improve our service and hope to regain their confidence in the future.
  
  We appreciate Dion C*** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If Dion C*** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************** or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  

  Customer response

  07/11/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

  This is all I ask for to start with. Just live up to the original agreement that we had accepted. 

  Thank you very much. 

  
  Sincerely,
  
  Dion C***

• Initial Complaint

  06/29/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  On 6/28/2024, I sent a $300.00 insurance payment to *********************** at ph. No. ************ and she told me that I could get a loan for $10,000.00, after I didn't meet the 700 credit score.Today, I got a phone call from *********************** at PH:- ************** saying that I was approved for the loan, but I need to pay $400.00 more to get the loan, because I have to pay a loan Origination Fee.I told him that the ***** never told me about a $400.00 Origination Fee. He went on to say to look at the Website at the 4th paragraph where it says that some percentage for the loan is due. I told him that the woman never mentioned this to me and to return my $300.00, and he said that I can't get it back! I asked him "do you not tell everyone this information about the 4% to be paid upfront, first?" These are SCAMMERS with a serious plot to steal money from people that are just trying to make ends meet.He told me to go to the BBB and I see all of these compalints of this Fraud and taking advantage of innocent people, like me.

  

  Business response

  07/01/2024

  Thank you for giving LendingClub the opportunity to respond to ******************** Better Business Bureau (BBB) complaint. Were sorry to hear that ************************* could have experienced a type of fraud or scam. At LendingClub, we take pride in providing a safe and transparent online lending experience. We never ask consumers to pay fees in advance or insurance to get a loan.
  

  To protect themselves, ************************* should take these steps immediately:
  

  Do Not give their personal information or bank account information to an unknown caller.
  Do Not provide the account information for a prepaid debit card or gift card to an unknown caller.
  Call us immediately at ************. We can confirm the identity of LendingClub employees.
  File a complaint about internet-related fraud with the Internet ********************** at *******************************
  Report the scam to their state's attorney general. They can find their state's contact information at www.consumerfraudreporting.org.
  If the scammer emailed them, they may forward the email with the original subject line to ************************************** and reference ticket #********.
  Let us know if they shared gift card information, such as an iTunes or ****** Play card. We may ask them to provide us with the gift card numbers to help us report the scammers.
  

  Unfortunately, scammers may contact people saying they represent a major financial services company. Sometimes they pretend to be LendingClub and offer personal loans with attractive terms. These fraudsters may tell victims to buy a prepaid debit card or gift card to pay a loan application fee. Then,they ask for the card number, supposedly to verify the account and send the victim the money. Instead, they take the money for themselves. The scammers may ask victims to pay extra fees, allegedly to fix problems with their Social Security number, credit report, or issues with the ****
  

  Although the scenario above is a typical advanced fee scam,fraudsters frequently change their methods. They may also ask for a victims bank account number, username, or password. They may even request their birthdate or Social Security number, leaving victims vulnerable to ID theft and other scams.
  

  If ************************* has further questions about protecting themselves from scams, they may visit ******************************************************************************* or contact ************************************** to forward the details listed above. 

  Customer response

  07/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  06/28/2024

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  Received a paid in full letter and they keep charging me every month on a zero balance last month was 12 43 paid it because they said was interest before billing cycle was over received another 12.oo bill and it has a zero balance

  

  Business response

  07/03/2024

  Thank you for giving LendingClub Bank, N.A. (“LendingClub”) the opportunity to respond to Andrew H*********** Better Business Bureau (BBB) complaint dated June 28, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  Based on the information provided in Andrew H*********** complaint, LendingClub was unable to verify any loan applications, loans, or credit inquiries. In order to further research their complaint, please have them provide LendingClub with an account number, their social security number, other email addresses used, other mailing addresses, and any other names used by them.
  

  We thank you for the chance to respond to Andrew H*********** complaint. If Andrew H********* has further questions about this complaint, please contact us by email at ******************************** or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

• Initial Complaint

  06/27/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am not liable for this dept with charter communications, I do not have contract with LENDCLUB BNK, they did not provide me with the original contract as i requested.

  

  Business response

  07/03/2024

  Thank you for giving LendingClub Bank, N.A. (“LendingClub”) the opportunity to respond to Latosha S****** ******** Better Business Bureau (BBB) complaint dated June 27, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  LendingClub records report that Latosha M***** has had multiple personal loans with us.
  

  When LendingClub receives an application request, we provide applicants with important documents prior to loan consummation. These documents include the Borrower Agreement and Truth-In Lending (TIL) disclosure. The TIL disclosure includes important information about their loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and accept the Borrower Agreement before submitting an application. To view the TIL disclosure and other important documentation, please sign into their LendingClub account online at ****************
  

  Our records indicate Latosha M***** reviewed the TIL and accepted the Borrower Agreement on October 7, 2021. Their personal loan ending in x*** originated on October 8, 2021. Contractual monthly payments were received on the loan from November 2021 to June 2023. Thereafter, the loan became delinquent.
  

  We give all borrowers a 15-day grace period to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due.
  

  LendingClub reports all account experiences—positive and negative—to one or more of the credit bureaus. Late payments, missed payments, or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. Charge-offs result in a negative mark on their credit report. Whether they've paid off the balance, settled it, or the loan is sold, the charge-off status will stay on their credit report up to seven years.
  

  On August 31, 2023, Latosha M***** enrolled in a short term reduced payment hardship plan for loan x*** from September 2023 to November 2023. They completed the hardship plan as per the hardship agreement.
  

  On January 2, 2024, Latosha M***** enrolled in a loan modification payment plan for loan x*** with a lock-in period from January 2024 to March 2024.
  

  To successfully complete the loan modification payment plan, a borrower must make their payments on time and in-full, or the agreement and the participation in the program will be cancelled. If the agreement and their participation in the program is cancelled, the member will need to pay any past due regular monthly payments that were not fully paid, and their account will be reported as past-due from the date they failed to make the lock-in period payment after they enrolled in the program. Their second payment for the program was due on February 3, 2024. Their 15-day grace period ended on February 18, 2024. Due to non-payment, their loan modification payment plan was cancelled on February 19, 2024.
  

  As of July 1, 2024, their loan x*** is paid through May 3, 2024. Their June 3, 2024 monthly payment is past due. Their next monthly payment is due July 3, 2024. LendingClub is accurately reporting their account information.
  

  Our records indicate Latosha M***** reviewed the TIL and accepted the Borrower Agreement on November 22, 2022. LendingClub records report that their personal loan ending in x*** originated on November 29, 2022. Contractual monthly payments were received on the loan from December 2022 to April 2023. Thereafter, the loan became delinquent. Due to non-payment, their loan was charged off on September 30, 2023. In accordance with our policy, their loan was outsourced to ****. LendingClub is accurately reporting their account information.
  

  LendingClub complies with all applicable federal and state privacy and data protection laws and regulations. In the laws and regulations, there are a number of exceptions where consumers have no right to opt out of non-personal information disclosures. Examples of appropriate information disclosures under this exception include those made to a purchaser of a portfolio of consumer loans, and a consumer reporting agency, consistent with the Fair Credit Reporting Act. They may view LendingClub’s Privacy Policy at ****************
  

  A fraud investigation was opened on June 6, 2024 and June 11, 2024 when LendingClub received multiple fraud claims through the credit bureaus for all of Latosha M*****’s loans. The investigation was closed on these same dates, and the fraud claims were declined due to Latosha M***** having received benefit of funds. They were notified of this determination by mail.
  

  We appreciate Latosha M***** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If Latosha M***** has further questions about this complaint, please contact us by email at ******************************** or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

• Initial Complaint

  06/25/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  INCORRECT REPORTING ON MY CREDIT REPORT. PLEASE DELETE AND BLOCK WITHIN 5 BUSINESS DAYS

  

  Business response

  07/03/2024

  Thank you for giving LendingClub Bank, N.A. (“LendingClub”) the opportunity to respond to Lateefaht W****** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  LendingClub records report that Lateefaht W**** has had three (3) personal loans.
  
  LendingClub provides applicants with important documents prior to loan consummation.  These documents include the Borrower Agreement and Truth-In Lending (TIL) disclosure.  The TIL disclosure includes important information about the loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and accept the Borrower Agreement before submitting an application. Our records indicate Lateefaht W**** reviewed the TIL and accepted the Borrower Agreement on August 15, 2018, May 29, 2021, and July 6, 2022. To view the TIL disclosures and other important documentation, please have them sign into their LendingClub account online at ***************.
  
  Their first loan (x***) originated on August 23, 2018. Contractual monthly payments were received on the loan from September 2018 to August 2021. The loan was paid in full on August 26, 2021.
  
  Their second loan (x***) originated on June 1, 2021. Contractual monthly payments were received on the loan from July 2021 to April 2023, for June 2023 and August 2023, and from October 2023 to November 2023. Thereafter, the loan was delinquent.
  
  Their third loan (x***) originated on July 7, 2022. Contractual monthly payments were received on the loan from August 2022 to October 2022, and from December 2022 to May 2023. Thereafter, the loan also was delinquent.
  
  It is the responsibility of the member to monitor their account, payments, and information. If a contractual monthly payment is not received by the contractual due date and becomes past due, LendingClub will attempt to reach the member whose account might be at risk of being negatively impacted or reported.  We give all borrowers a 15-day grace period to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 15 days of the contractual due date, a late fee may be applied. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due.
  
  For their loan ending in x***, Lateefaht W****** last payment was received on November 1, 2023. Due to non-payment and account delinquency, the loan was charged off on January 16, 2024. In accordance with our policy, the loan was sold to ****** **** ********* on February 28, 2024. Please note as the loan has been sold, any request received for validation will be sent to the debt buyer. If Lateefaht W**** would like to discuss their account, please have them contact ****** **** ********* at *************
  
  For their loan ending inx***, Lateefaht W****** last payment was received on May 12, 2023. Due to non-payment and account delinquency, the loan was charged off on September 15, 2023, and sold to *********** ********* ***********, *** on October 30, 2023. If Lateefaht W**** would like to discuss their account, please have them contact  *********** ********* ***********, *** at ************.
  
  When borrowers notify us that they may be a victim of identity theft, LendingClub conducts a thorough investigation to determine if a loan has been fraudulently obtained. A fraud investigation was opened on March 27, 2024, when LendingClub received a fraud claim for each loan through the credit bureaus. The investigations were closed same day, and the fraud claims were declined due to them having received benefit of funds. Lateefaht W**** were notified of this determination by mail.
  
  Upon acknowledgment and acceptance of the loan terms, a borrower consents and agrees to LendingClub’s credit reporting policy. LendingClub complies with all applicable federal and state privacy and data protection laws and regulations. In the laws and regulations, there are a number of exceptions where consumers have no right to opt out of non-personal information disclosures. Examples of appropriate information disclosures under this exception include those made to a purchaser of a portfolio of consumer loans, and a consumer reporting agency, consistent with the Fair Credit Reporting Act (FCRA). In accordance with the FCRA, LendingClub provided a thorough investigation of Lateefaht W****** account and it was determined an update was required to correct minor inaccuracies in the account reporting. Please allow up to sixty (60) days for the new information to be processed and displayed by the credit bureaus.
  
  LendingClub is required to report all account experiences—positive and negative—to one or more of the credit bureaus. Late payments, missed payments, or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. Charge-offs result in a negative mark on their credit report. Whether they've paid off the balance, settled it, or the loan is sold, the charge-off status will stay on their credit report up to seven years.  To remain fair and impartial to all borrowers, we are unable to make modifications or exceptions to our credit bureau reporting policy.  
  
  We appreciate Lateefaht W**** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If Lateefaht W**** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************** or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  
  

• Initial Complaint

  06/25/2024

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  The lending club sent me loan papers for a personal loan of $5,000 on DocuSign with your guys's credentials and the lending corporation credentials as well along with the seal of the state of ******** I ****** for this loan even talk to somebody was supposed to get it within 24 hours never got it so I tried to reach out email all I got back was I'll look into it two days later I'm getting a confirmation DocuSign form from them with all the your guys's credentials and everything included for this loan once again all my information was on there including bank account number username and password and then I got a call the person on the other line told me what to do with this confirmation letter sent it back to him told me to call me back in about 20 minutes at that time it was 10 after 5:00 and I appreciated to validate everything until he got to my bank which they already approved it like I said I have copies of everything I'm going to give me a spiel that oh now they can't I lost I lost an am in the process of losing my apartment because of this company because I did it to catch up on my rent I showed my landlords my paperwork that I was approved the doctor ****** the legal papers 24 hours later never got nothing and two days later got scammed and when I got angry at the gentleman that told me no after everything was done instead he proceeded to call me back and call me all kinds of nasty names and call me back twice after because I didn't want to hear it that is illegal and he cannot do that and you guys are stamped on their paperwork right along with DocuSign and now I'm going to be on the streets because of it I need help because I know the law and this isn't right

  

  Business response

  06/26/2024

  Thank you for giving LendingClub the opportunity to respond to ******************** Better Business Bureau (BBB) complaint. Were sorry to hear that ************************* could have experienced a type of fraud or scam. At LendingClub, we take pride in providing a safe and transparent online lending experience. We never ask consumers to pay fees in advance or insurance to get a loan.
  
  To protect themselves, ************************* should take these steps immediately:
  
  1. Do Not give their personal information or bank account information to an unknown caller.
  2. Do Not provide the account information for a prepaid debit card or gift card to an unknown caller.
  3. Call us immediately at ************. We can confirm the identity of LendingClub employees.
  4. File a complaint about internet-related fraud with the Internet ********************** at *******************************
  5. Report the scam to their state's attorney general. They can find their state's contact information at www.consumerfraudreporting.org.
  6. If the scammer emailed them, they may forward the email with the original subject line to ************************************** and reference ticket #********.
  7. Let us know if they shared gift card information, such as an iTunes or ****** Play card. We may ask them to provide us with the gift card numbers to help us report the scammers.

  Unfortunately,scammers may contact people saying they represent a major financial services company. Sometimes they pretend to be LendingClub and offer personal loans with attractive terms. These fraudsters may tell victims to buy a prepaid debit card or gift card to pay a loan application fee. Then, they ask for the card number,supposedly to verify the account and send the victim the money. Instead, they take the money for themselves. The scammers may ask victims to pay extra fees,allegedly to fix problems with their Social Security number, credit report, or issues with the ****
  
  Although the scenario above is a typical advanced fee scam, fraudsters frequently change their methods. They may also ask for a victims bank account number, username,or password. They may even request their birthdate or Social Security number,leaving victims vulnerable to ID theft and other scams.
  
  If ************************* has further questions about protecting themselves from scams, they may visit ******************************************************************************* or contact ************************************** to forward the details listed above. 

• Initial Complaint

  06/25/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am not liable for this debt with LENDING CLUB CORPORATION, I do not have a contract with LENDING CLUB CORPORATION they did not provide me with the original contract as I requested.

  

  Business response

  07/03/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ***************************** Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  
  LendingClub provides applicants with important documents prior to loan consummation.  These documents include the Borrower Agreement and Truth-In Lending (TIL) disclosure.  The TIL disclosure includes important information about the loan, including the Annual Percentage Rate (APR) and origination fee. LendingClub requires that applicants review the TIL and accept the Borrower Agreement before submitting an application. Our records indicate *************************** reviewed the TIL and accepted the Borrower Agreement on November 28,2018. To view the TIL disclosure and other important documentation, please have them sign into their LendingClub account online at lendingclub.com.
  
  LendingClub records indicate that *************************** received a joint applicant personal loan on December 5, 2018. The contractual monthly payment was received on the loan for ******* 2019.Thereafter, the loan became delinquent.
  
  It is the responsibility of the member to monitor their account, payments, and information. If a contractual monthly payment is not received by the contractual due date and becomes past due, LendingClub will attempt to reach the member whose account might be at risk of being negatively impacted or reported.  We give all borrowers a 15-day grace ****** to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. If a payment is not received within 15 days of the contractual due date, a late fee may be applied. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due. ***************************** last and only payment was received on ******* 5, 2019. Due to non-payment and account delinquency, the loan was charged off on June 17, 2019.In accordance with our policy, the loan was sold to ******* Originator, LLC on April;15, 2020. Please note as the loan has been sold, any request received for validation will be sent to the debt buyer. If *************************** would like to discuss their account, please have them contact ******* Originator, LLC at ************.
  
  A fraud investigation was opened on May 30, 2024, when LendingClub received a fraud claim through the credit bureaus. The investigation was closed on May 31, 2024, and the fraud claim was declined due to them having received benefit of funds. *************************** was notified of this determination by mail.
  
  Upon acknowledgment and acceptance of the loan terms, a borrower consents and agrees to LendingClubs credit reporting policy. LendingClub complies with all applicable federal and state privacy and data protection laws and regulations. In the laws and regulations, there are a number of exceptions where consumers have no right to opt out of non-personal information disclosures. Examples of appropriate information disclosures under this exception include those made to a purchaser of a portfolio of consumer loans,and a consumer reporting agency, consistent with the Fair Credit Reporting Act (FCRA). In accordance with the ***** LendingClub provided a thorough investigation of ***************************** account and it was confirmed that all account information has been accurately reported.
  
  LendingClub is required to report all account experiencespositive and negativeto one or more of the credit bureaus. Late payments, missed payments, or other defaults on their account may be reflected in their credit report, as well as a record of on-time payments. Charge-offs result in a negative **** on their credit report. Whether they've paid off the balance, settled it, or the loan is sold, the charge-off status will stay on their credit report up to seven years.  To remain fair and impartial to all borrowers, we are unable to make modifications or exceptions to our credit bureau reporting policy.  
  
  We appreciate *************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If *************************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
  
  

• Initial Complaint

  06/25/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am not liable for this debt with LENDING CLUB CORPORATION, I do not have a contract with LENDING CLUB CORPORATION they did not provide me with the original contract as I requested.

  

  Business response

  06/28/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ************************ Better Business Bureau (BBB) complaint. LendingClub strives to provide the very best service to our customers and appreciates their feedback.

  All loan applications include a members Truth in Lending (TIL) Disclosure which details the terms of the members loan. It lists their annual percentage rate (APR), which is the total yearly cost of their loan, including both the interest rate and the origination fee.  The TIL and Borrower Agreement are acknowledged by the borrower during the application process.  Borrowers may review their documents, payment history and account information at any time by signing into their online account at lendingclub.com.

  LendingClub records indicate that ***************************** received a personal loan on January 8, 2018. Contractual monthly payments were received on the loan from July 2017 to April 2020. Thereafter,the loan became delinquent.

  It is the responsibility of the member to monitor their account, payments, and information. If a contractual monthly payment is not received by the contractual due date and becomes past due, LendingClub will attempt to reach the member whose account might be at risk of being negatively impacted or reported. We give all borrowers a 15-day grace ****** to make payments with no penalty. Interest will continue to accrue on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. Borrowers are also able to make extra principal payments that are applied to the principal balance, which decreases the total cost of the loan and the total interest paid over the life of the loan.

  If a payment is not received within 15 days of the contractual due date, a late fee may be applied. If a payment is not received within 30 days of the contractual due date, the account may be turned over to a professional collection agency and negative information may be furnished on their credit report. LendingClub must follow our charge off policy if the loan becomes more than 120 days past due. Due to non-payment, their loan was charged off on September 28, 2018. In accordance with our policy, ************************ loan was sold to CKS Financial (Webcollex, LLC) on October 11, 2018.

  Please note as their loan has been sold, any request received for validation will be sent to the debt buyer. If ***************************** would like to discuss their account, please have them contact CKS Financial (Webcollex, LLC) at ************.

  A fraud investigation was opened on July 6, 2021 when LendingClub received a fraud claim through the credit bureaus. The investigation was closed on July 6, 2021 and the fraud claim was declined due to benefit of funds. ***************************** was notified of this determination by mail.

  LendingClub reports all account experiencespositive and negativeto one or more of the credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report, as well as a record of on-time payments. Charge-offs result in a negative **** on your credit report.?Whether you've paid off the balance, settled it, or the loan is sold, the charge-off status will stay on your credit report up to seven years. To remain fair and impartial to all borrowers, we are unable to make modifications or exceptions to our credit bureau reporting policy.

  We appreciate ***************************** as a valued member of LendingClub and thank you for the chance to respond to their complaint. If ***************************** has further questions about this complaint, please have them contact LendingClub directly by email at ******************************************* or phone at ************, Monday - Friday 7a.m. - 4p.m. Pacific Time.

• Initial Complaint

  06/25/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  On 6/11/24 I put in an application with ************ for $10,000 loan. I also found another company that had better loan terms so I decided to go with the other company. On 6/12/24 first thing in the morning I called ************ and advised them I want to cancel my application as I went with another company. I was told the loan had been approved and the money was being deposited into my account on that same day. I advised I was not notified of the approval nor do I wish to take the loan, I was told I could not cancel the loan until the money was deposited into my account. The total being $9400 as they take $600 out of the $10,000 as a fee. On 6/13/24, the $9400 was in my account and I contacted ************ to cancel the loan so they can take their money back. I received an email saying my loan was cancelled and within 7 days they would take their money back. They took their $9400 back on 6/18/24, yet the loan is still active, and now showing I am 6 days past due?? How am I past due on a loan that was cancelled and they took their money back?? I have talked to numerous representatives and a supervisor named ****** and told everything is fine the loan is being cancelled. Its been 12 days since the cancellation request and 4 days since they took the money back and yet the loan is still open, active and showing I owe $10,000 and am late on a payment? How do I have a payment, let alone a late payment on a loan I cancelled? I keep getting the runaround and feel as though they are scamming me as they have taken their money back, yet not canceling the loan. I have ALL the evidence to prove I cancelled the loan and that they took their money back. I want this loan to be cancelled!! They took their money back, I canceled the loan and did my part. This has been an absolute nightmare!

  

  Business response

  07/01/2024

  Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to ************************* Better Business Bureau (BBB) complaint dated June 25, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
  

  LendingClub records report that ************************* personal loan originated on June 11, 2024.
  

  An applicant may cancel their request for a personal loan through LendingClub without any fee or penalty, as long as they contact LendingClub within five (5) calendar days from the date of issuance. We received ************************* request to cancel their loan on June 13, 2024. As the loan funds had been sent to their bank account on file, there was a mandatory 4-day payment draft hold before the loan funds would be scheduled to be withdrawn from their bank account.
  

  On June 20, 2024, LendingClub scheduled the loan funds for withdrawal. On June 26, 2024, the loan funds were received, and the loan cancellation was finalized.  
  

  We appreciate ****** Tower as a valued member of LendingClub and thank you for the chance to respond to their complaint. If ****** Tower has further questions about this complaint, please contact us by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.

  Customer response

  07/01/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  ******************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩