2.6
  • Very easy process2 votes
  • Concept of p2p2 votes
  • Helpful telephone representatives1 votes
  • Five percent origination fee3 votes
  • Ridiculous paperwork required2 votes
  • Lc refinancing gouges lenders1 votes
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  • Mar 27
  • Loans and Mortgages
  • Debt Consolidation Loan
  • 1
  • 1
  • 525
  • REVIEW RATING 5/5

I applied for a debt consolidation loan back in February after receiving a pre-qualified offer in the mail. It came under my former name, so once I applied I quickly sent documents in to have my name updated prior to the verification process so that there would be no snags. I also uploaded the necessary documents right away to further expedite my loan process. Since I did most of my initial... Read more

Was this review helpful? 0 0

  • Mar 18
  • Loans and Mortgages
  • Mansfield, Massachusetts
  • Loan
  • 1648
  • REVIEW RATING 5/5

Hope these various reviews of the Lending Club are helpful to some people. You get more info here than Lending Club gives out voluntarily. You need to be very careful with where you choose to take a loan, sometimes it ends up being much worse than a traditional bank. Always read the fine print. Always. No such thing as easy money. Do note the "origination fee." ... Read more

Was this review helpful? 0 0

  • Mar 16
  • Loans and Mortgages
  • Boca Raton, Florida
  • Positive Experience
  • 1
  • 1
  • 2426
  • REVIEW RATING 5/5

I looked through this site before I applied for my Lending Club loan, I was baffled when I got to my application and saw the 'Truth in Lending' Disclosure. All fees are completely laid out in front of you! So many people here have complained about them STEALING 5% for the origination fee... it's right there! It's not hidden at all! It tells you if your loan is 100% funded what the actual... Read more

Was this review helpful? 4 0

  • Mar 10
  • Loans and Mortgages
  • Las Vegas, Nevada
  • Loan Origination Fee
  • 2
  • 2
  • 2588
  • REVIEW RATING 5/5

Lending Club is a Rip Off. They Claim Low interest rates that are Lies and they Charge / Take 5% of your original loan amount and call it a Loan Origination Fee. Good companies do not have Poor business practices like this. Don't be fooled people. If you had average credit and need a loan go to Avant Credit and the Full amount of the loan you are approved for will be deposited into your account... Read more

Was this review helpful? 7 3

  • Mar 10
  • Loans and Mortgages
  • Las Vegas, Nevada
  • Interest Rate
  • 1
  • 1
  • 2195
  • REVIEW RATING 5/5

Beware Lending Club Steals 5% and Calls it a Loan Origination Fee. This is So Unethethical and how they have 4 Stars is Beyond me. The 2.6 Rating on this Site is completely Accurate. My credit was in Low 700's and I still paid 25%. They also charge Daily compounded interest. This high daily interest rate should be how they make their money NOT by STEALING 5% from Good hard working people and... Read more

Was this review helpful? 7 1

  • Feb 26
  • Financial Scams and Schemes
  • Tucson, Arizona
  • P2P Lending
  • 2
  • 2
  • 4467
  • REVIEW RATING 5/5

I have become aware that LC is targeting existing borrowers to refinance their loans, sometimes within a few months. Apparently they get a new origination fee from the borrower, nice for them and sucky for the borrower, but they also rip off the lenders. We pay 1% of whatever LC receives as a management fee. This is reasonable if the note is going to run for a while and we can cover the fee... Read more

Was this review helpful? 6 3

  • Feb 09
  • Loans and Mortgages
  • Clarion, Pennsylvania
  • Cancellation Policy
  • 2
  • 2
  • 7745
  • REVIEW RATING 5/5

"hidden origination fee" they regret to inform you about until they deposit the money in your account. I guess its in the fine print. Lost $750 off the top that they would not refund or cancel my loan. customer service gives generic answers, and in no way really cares or tries to help. On top of it they gave me a 29% interest rate. Went with another company after that fact after losing $750... Read more

Was this review helpful? 19 5

  • Jan 30
  • Loans and Mortgages
  • Belchertown, Massachusetts
  • Loan Solicitation
  • 1
  • 1
  • 9491
  • REVIEW RATING 5/5

I had rec'd a lending club solicitation. I filed an application and was pleased at the ostensible positive response. Requiring "just 3 more steps including verification of income which I promptly sent in. Shortly after I noticed that my "loan status" was removed. When I called I was told that in fact I was denied due to a "public record" (tax lien) going back to 2004........(since satisfied). My... Read more

Was this review helpful? 7 4

  • Jan 30
  • Financial Scams and Schemes
  • Southaven, Mississippi
  • Interest Loans
  • 1
  • 1
  • 8805
  • REVIEW RATING 5/5

I tried working with this company for a $28,000 loan and they kept asking for different documents for over a week. The last straw was when they began requesting documents I had ALREADY SENT! The operators are clueless as to the inner workings and they will not allow you to talk directly to the reviewers. Their "review team" is obviously not carefully reviewing their accounts. I believe they are... Read more

Was this review helpful? 6 6

  • Jan 25
  • Loans and Mortgages
  • Pleasanton, California
  • Loan
  • 1
  • 1
  • 7866
  • REVIEW RATING 5/5

don't use Lending Club there a scam I watched as my cousin lost $150 after they told him he needed to get this special card to pay for some insurance for the loan!!! I don't know how this company is going along so long without being reported Read more

Was this review helpful? 6 8

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