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Lending Club, Akron, Ohio Complaints & Reviews - They took money

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Lending Club

Posted:    

They took money

Complaint Rating:  84 % with 150 votes
84% 150
Contact information:
Lending Club
Akron, Ohio
United States
lendingclub.com
I tried to open a loan with these people they said they needed your bank account information to verify that it was you. Against my better judgement I gave that information and they proceeded to debit my account of a transaction under a dollar. They say they won't take the money it will just be pending. Instead it's been long gone from my account for two weeks now and they still haven't returned my money. I sent them an email and they never answered my question of when they would return my money instead they just said they turned me down due to lack of credit which is a lie I own my home. Then I told them I was going to report them and that's when they said to call them just to give me the run around telling me they would refund it in two business days which never happened and even though I told them by then it had already been a week.
Complaint comments Comments Complaint country United States Complaint category Loans
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 30th of Mar, 2012 by    0 Votes
I'm a lending club investor and have funded hundreds of consumer loans. With regard to the complaint about not getting back the test transaction sum of less than a dollar - seems a trivial complaint from a guy who was turned down for many thousands of dollars in loan. My experience has been that loans don't get issued mainly because consumer misrepresent their true financial situation, like not accurately reporting their outstanding loans and history. I also suspect from the few loans that have gone bad in my account, that loans fail because applicants outright lie or otherwise try to scam the system. From what I can see, Lending Club uses reasonable, accurate due deligence is asssessing creditworthiness. If your lown was denied, you probably would not have been able to pay it back. and in the end, that is what peer-to-peer lending is all about.
 13th of Jul, 2012 by    0 Votes
I was approved for a $25, 000.00. Although my credit score was 783, I was rated B1. I submitted all the documents, 2 years business and personal tax returns along with some other items they requested and it was100% funded by investors, though it took 8 days. In less then 24 hours I get an email stating they now need 2011 tax returns. Well gess what...All I have is a copy of the my extension my CPA filled and a cancelled check for $40, 000.00 I paid the IRS. I told them to adios, went down to Wells Fargo and got the same unsecured loan for 1/3 of the interest rate Lending Club was going to charge in 24 hours. Bottom line...If you have good credit go to a real bank. I'm so glad they yanked me around because if they hadn't I would have had to pay a $1, 200.00 fee for the loan along with a much higher interest rate. Thank you Lending Flub...I mean Club.
 21st of Feb, 2013 by    0 Votes
i was approved for a loan after responding to a mailed notice offering me a pre-approved loan. I was surprised at how long it took, but the big surprise came when I was charged an $1100 origination fee. I was never informed on what that amount was going to be. I didn't notice it until I had distributed the funds to my credit card companies wondering why I was short in paying off my debt, which was the whole purpose in obtaining the loan. If i were to rate the company on above board business, I am afraid I would warn others to stay away. By the way, I do have decent income and decent credit, and have no intention of defaulting on this. I guess we live and learn. Probably a good experience for investors, but borrowers be careful.
 19th of Sep, 2014 by    0 Votes
Today I attempted to borrow $11000 for new roofs on my homes. I did this because I have received at least 15 of the "My Instant Offer" letters with a pre-approved amount of $20000.00. This is unfortunately a lie as they stated my credit wasn't good enough, why send me a pre-approval letter if my credit wasn't good enough I currently owe a small amount on two credit cards and a small personal loan, all total about $5000.00 with an annual retired income of $75, 000. Something is very wrong here and if I get any further letters they will be returned with a personal note from me.
 6th of Jun, 2015 by    0 Votes
I agree with everyone who has posted a bad comment. I am sitting here looking at my second pre-approval letter, for 35K, I know after they asked for stupid information they should already know is in good shape or I would have never been approved for my home loan just 3 months earlier. I wanted to combine a few credit card debts of 9300. and after that run around I stopped trying with them.
 14th of Jul, 2015 by    0 Votes
Thank you for all the information you have posted, I was about to take advantage of a pre-approved offer and make a huge mistake.
 16th of Jul, 2015 by    0 Votes
Had No problem with a pre-approval, and then an approval followed by a bank transfer in 4 days of $3, 500.00 at an interest rate of 9% over a 3 year period, but I guess some people get denied for lying to banks concerning their inflated status .
I Bought a nice tractor for the back 40, and the banks here are charging people about 12-15% for services, and I own my home as humble that it is, but did Not want any encumbrances on it .
Maybe some people feel that investors are in the business of losing money, but who knows in this cashless, and credit based global community of today .
By the way when you do have cash to purchase items of large size such as a tractor ...NOT new the Price is Always Negotiable, but a used Ford Vintage quality tractor in perfect running order you can do much better with CASH than a check, or credit card especially from a private sale .

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