ComplaintsforLendingClub Corporation

Financial Services

Additional Complaint Information

Customer Complaint:

BBB’s business profile for Lending Club was created in April 2010. A review of Lending Club complaints was completed in December 2023. Complaints on file state concerns of scammers imposing as LendingClub Corp.

Consumers are encouraged to review How to Protect Yourself from Scams or contact [email protected].

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Initial Complaint
06/23/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
On May 13, 2024 my wife sent check #*** in the amount of $1100.00 for payment on my loan number ********* but failed to sign the check.LendingClub deposited the check on May 20,2024 at ****************, ***********, ** to ****. #**********.On May 21,2023 the $1100 check was deducted from my account at ************************* did not credit the check to our loan and we are out $1100.We have made 3 phone calls to LendingClub and sent a letter to the *** *************************, ************************************************************************. With this letter we included all the documentation of the check, the deposit and the withdrawal from our bank.
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 23, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
LendingClub records report that ******************** balance transfer loan originated on January 26, 2024. Contractual monthly payments were received on the loan from February 2024 to June 2024.
On May 23, 2024, ************************* notified us that their check #*** was sent to us, but the check had not been signed. On May 30,2024, we issued a request to process a return check for the funds. On June 14,2024, a return check was sent to their mailing address on file, and on June 26,2024, the check was cashed.
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 contact us by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
Initial Complaint
06/21/2024
Complaint Type:
Order Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
They billing me for dental work that was never done. The bill $6400.00 I am not sure how they got my information for this. I think someone took my information for this because I am not sure how this can happen Complaint taken in dictation by BBB rep **
Business response
06/27/2024
Thank you for giving LendingClub Patient Solutions (LCPS) the opportunity to respond to ******************************* Better Business Bureau (BBB) complaint dated June 21, 2024. LCPS strives to provide the very best service to our customers and appreciates their feedback.
LCPS records report that ******************************* submitted a credit application on January 9, 2024. On January 10, 2024, the application was approved, and the funds were disbursed to ***************** of ********,**********, as per their agreement. The $6,000.00 loan has an *****% annual percentage rate (APR) with contractual monthly payments of $156.00 for a 60-month term.
Please note that while LCPS handles the application process for financing, we do not service accounts. ******************************* credit account originated through ********************** who is responsible for servicing their account. Please have ******************************* reach out to them directly regarding the servicing of their account. They can reach Comenity ************************* by phone at *************, Monday- Saturday 8a.m.-9p.m. EST.
LendingClub received an invoice from ***************** confirming services provided for *********************. On April 22, 2024 and on May 7, 2024, we emailed ******************************* that no refund was due. If ******************************* has further questions regarding the charges, please have them contact ***************** at ************.
We appreciate ******************************* as a valued member of LCPS and thank you for the chance to respond to their complaint. If ******************************* has further questions about this complaint, please have them reach out to us by phone at ************** or email us at *******************************************.
Initial Complaint
06/21/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I requested a statement from ************ so I an determine where Payment, Principle and Interest are being applied. I was told they do not do that and can not show me a running statement of my payments and where the Interest and Principle are applied. They told me that I can review that in my Account. All I can see is a payment and where they told me they applied Interest and Principle. I don't even have the ability to see my Total payments made, only the Balance due.
Business response
07/01/2024
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. Once all terms and conditions have been acknowledged and accepted, no changes can be made,including the interest rate and monthly payment amount. Our records indicate *************************** reviewed the TIL and accepted the Borrower Agreement on September 15, 2022. To view the TIL disclosure and other important documentation, they will need sign into their LendingClub account online at lendingclub.com.

The APR on personal loans currently ranges from 6.34% APR to *****%, depending on a borrowers credit score, loan amount, loan term, and credit usage history. These rates are permitted by the federal interest rate law that applies to LendingClub Bank, N.A.(LendingClub), called the ************************* Act, at 12 U.S.C. 1831d. The APR includes the yearly interest rate and the origination fee.

The personal loan *************************** received is a fully amortizing loan with LendingClub. The amortized interest amount is a greater portion of the monthly payment at the beginning of the loan. As they make payments the interest portion of their monthly payment will decrease, and a greater portion of their monthly payment will be applied to their principal balance. Borrowers are also able to make extra principal payments 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. It is important to note that interest accrues on the loan daily and if a payment is delayed, there may be additional interest accrued on the loan. When a payment is received, the accrued daily interest is first satisfied, and the remaining is applied to the principal balance.

As outlined in the loan agreements, enrolling in payment deferment or hardship plans will lower the amount due in the short term;however, it will increase the cost of the loan over the long term. Interest will continue to accrue daily on the outstanding principal through the deferment and hardship periods as outlined in your borrower agreement. Under normal circumstances, the interest that accrues daily will be fully satisfied with each successful full monthly payment. When a loan is placed on a deferment or hardship plan the full payment is not being made and therefore interest is not getting paid off as per the original amortization schedule. When this happens, there is a build-up of unpaid interest that must first be satisfied when normal payments resume before payments start allocating to principal.LendingClub does not charge interest on interest, however since principal is not being reduced at the original rate the loan will take longer to pay off and more interest will accrue over the life of the loan. These costs were disclosed in the hardship documents *************************** received when they agreed to the hardship plans. To review their hardship plan documents, they are able to sign into their account at lendingclub.com, where they are included with the other loan documents.

Upon receipt of this complaint, a thorough investigation was conducted; it has been confirmed that all payments have been accurately allocated to the principal and interest balances as necessary and that the remaining account balance is correct.

Because the LendingClub Bank, N.A. (LendingClub) is an online company that operates only on the Internet, when *************************** chose to participate on our platform as a borrower, they consented to transact business with us online and electronically. By agreeing to the Terms of Use, they agreed to receive electronically all documents,communications, notices, contracts, and agreements arising from or relating to their use of the Site and Service. To learn more about how we communicate with them,please have them view our Privacy Policy and Terms of Use at www.lendingclub.com.

Because we're an online company, we don't currently provide paper statements or paper communications. Its just one of the many ways we're able to bypass the costs of a traditional lending program and pass the savings onto our borrowers in the form of lower rates. However, we do provide all loan details, including their payment history, in their account online at lendingclub.com. From there, borrowers are able to see the allocations of the payment between the interest and principal balances. If *************************** needs assistance navigating their online account, please have them contact us directly and we will be happy to assist.

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.
Customer response
07/01/2024

Complaint: 21882231

I am rejecting this response because I still do not get a statement, the only thing that I can see is what they post (see the attached) I don't see any documentation that shows I do not receive a month to month statement or even a request to provide me with a statement. I was told they do not have a statement, then if that is the case how are the applying a month to month payment, Interest charges and principal charges?

Why am I refused a month to month statement of Balance, payment and interest and where applied?

Sincerely,

***************************
Business response
07/02/2024
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 previously addressed this complaint on July 1, 2024, and has nothing further to provide at this time. 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.
Customer response
07/02/2024

Complaint: 21882231

I am rejecting this response because I still do not have what I asked for, which is simply a statement, I have called ************* and NO one is able to help me. This is the only reason I contacted the BBB.
Can they simply not provide me with a statement on request? Why is the simple request so complex, makes me truly wonder why they can not provide this document.
I just need HELP with this QUITE SIMPLE REQUEST

Sincerely,

***************************
Initial Complaint
06/20/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I applied for a loan of $5000 they told me i was approved but the check bounced in my account now they are denying the did a loan i have the paperwork
Business response
06/21/2024
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.
Initial Complaint
06/17/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I have been charge a late fee of $41 even though I am making the payment on the due date. Their online and over the phone payment system is set up in such a way that if you are past 5pm on the due date it won't let you process the payment any more. The same thing is true when you try to do it over the phone.Nowhere on their website is this clear or mentioned. I have been advised that they can only give me a one time $15 credit, that there is nothing they can do.This is bad loan shark practices that feed of the consumer's on fees after fees. They need to be up front with their clients especially on their websites regarding how their late fees are applied.
Business response
06/21/2024
Thank you for giving LendingClub Bank, N.A. (LendingClub) the opportunity to respond to *********************************** Better Business Bureau (BBB) complaint dated June 17, 2024. LendingClub strives to provide the very best service to our customers and appreciates their feedback.
Based on the information provided in *********************************** 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 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 contact us by email at ******************************************* or leave a message at ************ Monday-Friday 7a.m. to 4p.m. Pacific Time.
Initial Complaint
06/17/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I was trying to get a loan from ************ Corporation for *****.I spoke with **************** on the phone on 6/4/2024. He informed me that because I was new I had to do a verified check. This entailed depositing a check into my account by the company and then returning the check. Once the check returns to *************** the funding of the ***** loan I requested would be deposited into my account. The verified check for ****** was sent to my account. They got all my bank information which I gave, which was routing number acct. number, last four digits of my social and user name and password. The bank which is Huntington which at this time I was dealing with caught the check and said it was a fraudulent check. The check was returned. My account was forced closed because of this fraudulent activity by ************. I would like the ****** returned to me in as a legitimate check as I can no longer use *************** for any of my banking needs.I will email you the letter from ********** and copies of the fraudulent checks.
Business response
06/18/2024
Thank you for giving LendingClub the opportunity to respond to ******* Underwoods 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.
Initial Complaint
06/14/2024
Complaint Type:
Order Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I am not for this debt and i do not have the contract with LENDING CLUB CORP plus they do not provide me with the original application liked i asked
Business response
06/21/2024
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 January 3, 2019.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 personal loan on January 3, 2019. Contractual monthly payments were received on the loan from February 2019 to October 2020 and, in December 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. 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 payment was received on December 20, 2020. Due to non-payment and account delinquency, the loan was charged off on May 17, 2021.In accordance with our policy, the loan was sold to ***************** Systems,LLC on June 30, 2021. 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 ***************** Systems, LLC at ************.

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 determined an update was necessary to correct minor inaccuracies reported in the payment history. Depending on the credit bureaus it can take up to sixty (60) days for new information to be displayed.

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
06/13/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
June 13,2024 I was on the phone with lending club the guys name wad *********************** ext 247 ************ for over 3 hours trying to get my loan verified when the money was took out of one of my accounts and transferred to my joint account they had me send it to cash app to 3 different people it finally went through and showed who got the money in a email they wanted me to call cash app cause they said they didn't get it and my $500 was gone then they hung up because I refused to call cash appand I got none of my money the loan or the $500 they transfered from one account to another.
Business response
06/14/2024
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 IRS.

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
06/14/2024

Complaint: 21846292

I am rejecting this response because: I have a copy of the loan contract my husband signed

Sincerely,

***************************
Business response
06/20/2024
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 previously addressed this complaint on June 14,2024, and has nothing further to provide at this time.
If *************************** has further questions about this complaint,please have them contact LendingClub directly by email at ******************************************* or leave a message at ************, Monday -Friday 7am - 4pm Pacific Time.
Customer response
06/20/2024

Complaint: 21846292

I am rejecting this response because:

Sincerely,

***************************
Initial Complaint
06/13/2024
Complaint Type:
Product Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I researched the company online through the BBB, ****** reviews and their site, before I proceeded to go through with the loan process. I was told that I could be approved up to $8000 and I only asked for $3000. The company took my information, bank information, and had sent me $700 then asked me to send it back, because my Apple Pay and Cashapp wouldnt allow the transaction. When I did so I never received my loan. They actually called me the next day asking me to repeat the process and I got very upset and told them it sounds like a scam and I hung up on them. I needed that money to move. This company should not be allowed to conduct shady business in this manner.
Business response
06/14/2024
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.
Initial Complaint
06/13/2024
Complaint Type:
Order Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I took out a loan with ************* Because of severe health issues that caused permanent disability, I went to National Debt Relief. This company has negotiated a settlement with ************ for partial repayment of my debt. ************ offered a settlement and I accepted their offer. I am on track with these payments. However, ************ continues to call multiple times every single day, even though I am paying off my debt to them according to the settlement which they proposed.
Business response
06/20/2024
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 records indicate that ******************************* received a personal loan on December 15,2022. Contractual monthly payments have been received on the loan from January 2023 to March 2024. As of June 18, 2024, the loan is 78 days past due. LendingClub records do not confirm any settlement agreement negotiated between ******************************* and LendingClub to date.

Payments are due on the contractual monthly due date. It is the responsibility of the member to monitor their account, payments, and information. 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.

If a payment has not been received by the contractual due date, LendingClub makes efforts to contact the borrower and collect outstanding payments to ensure the loan remains in current status.We attempt to contact borrowers using the email address and phone numbers that are provided at the time of application unless instructed otherwise. The collections process is highly regulated. Our internal collection team and the professional third-party debt collection agencies we work with take comprehensive action to collect payments from borrowers, all within the extensive federal, state, and municipal laws related to collections activities.Our records indicate that LendingClub followed all applicable regulations and policies pertaining to customer contact.

Upon receipt of this complaint, *********************** account was updated so that they will no longer receive outbound collection phone calls. If ******************************* would like to further update their contact preferences, please have them contact us directly and we will be happy to assist.

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.

Customer response
06/20/2024
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,

*******************************

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