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Lending Club


They took money

Complaint Rating:  89 % with 367 votes
89% 367
Contact information:
Lending Club
Akron, Ohio
United States
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 (49)    Updated: Complaint country United States Complaint category Loans


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D  30th of Mar, 2012 by    +1 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.
N  18th of Jan, 2017 by    +1 Votes
@zichroni O please ! Thievery is thievery. There's no other way around it. You being a "Lending club investor" should be well aware of that. It makes the company disreputable and lacking in integrity. "Peer to peer" indeed.
N  13th of Jul, 2012 by    +7 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.
A  21st of Feb, 2013 by    +12 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.
A  19th of Sep, 2014 by    +10 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.
A  6th of Jun, 2015 by    +8 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.
N  14th of Jul, 2015 by    +14 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.
D  16th of Jul, 2015 by     Best Advice +18 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 .
A  8th of Aug, 2015 by    +6 Votes
Thank you for all these letters. I just received an offer from Lending Club and decided to check it out. I'm glad I did.
A  24th of Aug, 2015 by    +8 Votes
I was going to check it out when I saw this in their terms of use that you must agree to:
TCPA Consent: I expressly consent to receiving calls and messages, including auto-dialed and pre-recorded message calls, and SMS messages (including text messages) from us, our affiliates, agents and others calling at their request or on their behalf, at any telephone numbers that you have provided or may provide in the future (including any cellular telephone numbers). Your cellular or mobile telephone provider will charge you according to the type of plan you carry.

No thank you.
N  17th of Sep, 2015 by    +9 Votes
Was about to get involved with them. Very glad I read these reviews!!! Thank you! Will not be using these shysters!
N  8th of Oct, 2015 by    +10 Votes
Glad I ...read all of these also and will throw mine in the trash. Won't get caught up in that crap
N  14th of Oct, 2015 by    +7 Votes
Thank you all for the information! I got a preapproved letter from them today and I am so glad that this information was out there!
N  17th of Nov, 2015 by    +2 Votes
I too keep receiving the pre-appoved letters but they never help me!!! All I want to do is payoff my debt and combine into 1 payment. I don't have the best credit score because of my debt but isn't that what debt consolidation is? I will keep searching for help and stay away from the Lending Club..
N  18th of Jan, 2017 by    0 Votes
@LindaEarlene Pleas do as I'm about to do now ! At the bottom of this trash they keep sending me, there is an "opt out" phone #. I'm SO glad I came to this page !
N  18th of Nov, 2015 by    0 Votes
Thanks to the many persons who took the time to submit information about this company. I, too, was JUST about to submit my application when I decided to read the reviews...Reading is fundamental!!!
N  19th of Nov, 2015 by    +7 Votes
Thanks for the insight, my letter is going in the trash now too!!!
N  21st of Nov, 2015 by    0 Votes
Thank you, Thank you and a again Thank you. If I had a thousand tongues I could not say it enough. I received the Lending club letter in the mail a few days ago. I tossed the very thought around until I stumble across these insightful and helpful reviews. I immediately, tore up my paper and wiped my forehead. Now I my credit has gone to pot due to me having to close my business due to my financial challenges. Thanks to all you people that was honest. I will not be using this place.
N  21st of Nov, 2015 by    +1 Votes
I was just about to complete my app from lending club but I am glad I stumbled onto this site to read all these negative reveiws. This seems like more trouble then its worth. There is a saying out of two or three witness everything is established. Beware...
Thank you!
D  21st of Nov, 2015 by    +1 Votes
My letter is also heading straight to the trash. It looked like it was a bad sales tactic and thankful for these posts I won't even get involved. Go F yourself Lending club. Take me off your mailing list. BOOM!
A  1st of Dec, 2015 by    0 Votes
Wow. How come these guys are still in business? Preying on people without Internet access?
N  30th of Dec, 2015 by    +5 Votes
I am in the middle of "approval" after simply applying for 1500.00, you would think I was asking for 50, 000 I went thru a phone interview, went thru work email verification and given them all that they needed only to find out that now they need me to "call them" from my work number, what the heck is that all about, Why can't they simply call to verify my employment like anyone else? It's all too complicated and too nosey, AVOID at all cost, You would think I was asking for the Keys to FORT KNOX instead of 1500, These people prey on people that are trying to better themselves! Do yourself a favor and throw away any letters you get from them.

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Customer Care Service
71 Stevenson Street, Suite 300
San Francisco
United States - 94105
+1 888 596 3157
+1 800 929 5097
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