I was sent a loan contract with the heading bearing the logo of Lending Club so i check them out on the web they seem reputable, so I looked at the loan contract well there were several things in the contract i didn't understand like I would need to purchase insurance and carry the coverage for the entire time of the loan so i set it aside.
The next day I had three missed phone calls in which they had left voice mail messages all three people gave me different names telling me to call back and talk to them, then an Adam Benson called stating he was from lending club and was to help me get the loan funds deposited I told him I had questions first and asked why i would be required to have insurance he stated that they had so many people not pay back their loans that it was now required.
Well I told him I didn't want the insurance he said I would just need to send a money gram for 212.00 and that it would be deposited into my account along with the loan amount, I stated that i could not do that til thursday and he said he would contact me back on thursday.
After our conversation I Decieded to call the number he had called me from but the call said it was a non working number which maid me even more suspicious so I went to Lending Clubs official web site and found stated in there facts that there are several states which they do not yet lend to because of legallities, I then called the number listed and talked with customer service and told him what was going on he asked me for the persons name and the web address the contract came from and assured methat it did not com from them and it was a scam.
The person Adam Benson called me later that afternoon and I told him to get lost.
I went to Lending Club for a loan to help pay off some credit card debt. I applied and it said I had to verify my bank account and email address. I did so. Then a week later I get an email requesting a few more items. I send those in and a week later they request more. They wanted a W2 I am a 1099 and they couldnt understand that no matter who I spoke with there. They wanted stubs with running totals which I explained my check stubs dont show that plus some of my tax paperwork that I explained was with my accountant. After my 7th or 8th call to them I asked to speak to a Manager. I wish I wrote down his name but he told me he would email me his info. Of course that did not happen. I told this "manager" that it was easier to get a mortgage than it was for this loan. I explained everything to him about my pay stubs and where my tax paperwork was. He said take your time in getting it to us and when I get it just submit it. Well today I go and do that and now suddenly I have to re-apply and start the whole process over. This company is a joke. And if they think I am going to start this 50+ day process all over again, it ain't happening. This company is so *** backwards. They have no idea what they are doing over there. Stay away from this scam company. Not worth wasting your time with...
I consider this company to be a predatory company. When i checked my rate after they filled my mailbox with lots of mailings i found they wanted 3000.00 in fees for a 6000.00 loan. Many fees were took out of the loan so you did not even get a loan for the requested amount. There should be laws to regulate these horrible places.
We recently bought a house, and, as a result of moving expenses, got a little in over our head with credit cards.
Imagine my relief when I received an offer from Lending Club for a low interest debt consolidation loan, up to $35,000, with an APR Starting at 6.78% . The words up to, and starting at, should be omitted from this offer!
I was so excited, I could pay off my car, my credit cards, and get a new roof and A/C system for our new home!
I filled out the application for $35,000. I waited anxiously for a reply. My offer almost made me cry. They offered me a whopping $8000, with an interest rate of over 29% !!! My heart sank immediately, it made me feel like sh*t. My feelings quickly turned to anger when I realized what had happened, they were trying to take advantage of my situation by offering me a predatory loan!
I don't have perfect credit, but it was good enough to buy a house. I have NO late payments of any kind. My wife and I both work, but they only consider one persons income. I have 6 accounts open with credit cards, and none of them are maxed out nor do they have late payments associated with them.
The lawmakers of this country need to take a long hard look at what is going on out here. But I think most of the lawmakers condone this behavior, and probably participate in it. The Greed is Good mentality is running rampant in our society, and in my opinion, will be the end of our free society.
Sorry about the ranting, but this really upset me to the core. We will get out of this on our own, but I thought it prudent to report this activity and maybe save others from the Predatory Lending Practices of this company.
If it sounds too good to be true, it probably is!!!
I've received calls from several different 347 area code numbers. Each representative has what I'd consider an Indian accent, and all have what could be assumed fake names. Mark Wardson was the last, but all of the names are very ""American"", yet all reps have a heave accent. They offer $1000+ loans with no collateral, no paperwork, just ""income verification"". What they really want is the upfront money they have you put on a card or wire, for $150-$400, depending on the amount of the loan requested. They advertise a low 10%-12% interest rate on an installment loan, but I've read SEVERAL reviews and complaints, all reporting being scammed out of the upfront money. The company will take that money and then ask for more processing fees and the like, that they don't tell you about at first. If you refuse to pay the additional, they keep what you sent to initiate the loan and prove your payment ability. It's a load of crap, and I'm not falling for it. These vultures prey on people with bad credit, and those in tight situations.
They just keep calling from different numbers, but the M.O. remains the same, as do the accents, the fake sounding names, and the fake business names. I've heard ""Lending Club"", ""United Cash Advance"", and a couple more. Fake website listings too, but they'll never give you a website of their own to verify who they are. Direct lenders have more to back up their claims and offers. Credit ratings under 620 would not qualify for interest rates under 29%, unfortunately, and ESPECIALLY without collateral or asset consideration. Anybody else in a bad credit situation, DON'T BELIEVE THE HYPE! Find a local credit union and plead your honest case. There are installment loans out there with interest rates in the APR 60% and up range that are more legit, albeit pricey. CREDIT RATING 600 or BELOW, NO COLLATERAL: You'll be lucky to find a 130%-200% APR, or in that range. Anything less could very likely be bullsh*t, so do some research and DO NOT FALL FOR UP-FRONT FEES!!! I've taken out 2 installment loans with APR 135% to 220% in desperation, but those rates are WAY better than what some of these companies will stick you with, and my credit is below 600. Don't settle for the robbery out there until you shop around.
Lending Club Reviews
I was sent a loan contract with the heading bearing the logo of Lending Club so i check them out on the web they seem reputable, so I looked at the loan contract well there were several things in the contract i didn't understand like I would need to purchase insurance and carry the coverage for the entire time of the loan so i set it aside.
The next day I had three missed phone calls in which they had left voice mail messages all three people gave me different names telling me to call back and talk to them, then an Adam Benson called stating he was from lending club and was to help me get the loan funds deposited I told him I had questions first and asked why i would be required to have insurance he stated that they had so many people not pay back their loans that it was now required.
Well I told him I didn't want the insurance he said I would just need to send a money gram for 212.00 and that it would be deposited into my account along with the loan amount, I stated that i could not do that til thursday and he said he would contact me back on thursday.
After our conversation I Decieded to call the number he had called me from but the call said it was a non working number which maid me even more suspicious so I went to Lending Clubs official web site and found stated in there facts that there are several states which they do not yet lend to because of legallities, I then called the number listed and talked with customer service and told him what was going on he asked me for the persons name and the web address the contract came from and assured methat it did not com from them and it was a scam.
The person Adam Benson called me later that afternoon and I told him to get lost.
I went to Lending Club for a loan to help pay off some credit card debt. I applied and it said I had to verify my bank account and email address. I did so. Then a week later I get an email requesting a few more items. I send those in and a week later they request more. They wanted a W2 I am a 1099 and they couldnt understand that no matter who I spoke with there. They wanted stubs with running totals which I explained my check stubs dont show that plus some of my tax paperwork that I explained was with my accountant. After my 7th or 8th call to them I asked to speak to a Manager. I wish I wrote down his name but he told me he would email me his info. Of course that did not happen. I told this "manager" that it was easier to get a mortgage than it was for this loan. I explained everything to him about my pay stubs and where my tax paperwork was. He said take your time in getting it to us and when I get it just submit it. Well today I go and do that and now suddenly I have to re-apply and start the whole process over. This company is a joke. And if they think I am going to start this 50+ day process all over again, it ain't happening. This company is so *** backwards. They have no idea what they are doing over there. Stay away from this scam company. Not worth wasting your time with...
I consider this company to be a predatory company. When i checked my rate after they filled my mailbox with lots of mailings i found they wanted 3000.00 in fees for a 6000.00 loan. Many fees were took out of the loan so you did not even get a loan for the requested amount. There should be laws to regulate these horrible places.
This people send flyers about their services. I apply for a credit line. Was "pre-approved".
They asked for additional Tax Documention and Bank Statements. Submited
Then they rejected the credit because "Language Barrier".
Just because I am Latin I am not allowed to apply for a credit? I AM A LEGAL RESIDENT of this Country and I pay taxes.
Stay away from this people
We recently bought a house, and, as a result of moving expenses, got a little in over our head with credit cards.
Imagine my relief when I received an offer from Lending Club for a low interest debt consolidation loan, up to $35,000, with an APR Starting at 6.78% . The words up to, and starting at, should be omitted from this offer!
I was so excited, I could pay off my car, my credit cards, and get a new roof and A/C system for our new home!
I filled out the application for $35,000. I waited anxiously for a reply. My offer almost made me cry. They offered me a whopping $8000, with an interest rate of over 29% !!! My heart sank immediately, it made me feel like sh*t. My feelings quickly turned to anger when I realized what had happened, they were trying to take advantage of my situation by offering me a predatory loan!
I don't have perfect credit, but it was good enough to buy a house. I have NO late payments of any kind. My wife and I both work, but they only consider one persons income. I have 6 accounts open with credit cards, and none of them are maxed out nor do they have late payments associated with them.
The lawmakers of this country need to take a long hard look at what is going on out here. But I think most of the lawmakers condone this behavior, and probably participate in it. The Greed is Good mentality is running rampant in our society, and in my opinion, will be the end of our free society.
Sorry about the ranting, but this really upset me to the core. We will get out of this on our own, but I thought it prudent to report this activity and maybe save others from the Predatory Lending Practices of this company.
If it sounds too good to be true, it probably is!!!
Signed,
An Angry Consumer!
I've received calls from several different 347 area code numbers. Each representative has what I'd consider an Indian accent, and all have what could be assumed fake names. Mark Wardson was the last, but all of the names are very ""American"", yet all reps have a heave accent. They offer $1000+ loans with no collateral, no paperwork, just ""income verification"". What they really want is the upfront money they have you put on a card or wire, for $150-$400, depending on the amount of the loan requested. They advertise a low 10%-12% interest rate on an installment loan, but I've read SEVERAL reviews and complaints, all reporting being scammed out of the upfront money. The company will take that money and then ask for more processing fees and the like, that they don't tell you about at first. If you refuse to pay the additional, they keep what you sent to initiate the loan and prove your payment ability. It's a load of crap, and I'm not falling for it. These vultures prey on people with bad credit, and those in tight situations.
They just keep calling from different numbers, but the M.O. remains the same, as do the accents, the fake sounding names, and the fake business names. I've heard ""Lending Club"", ""United Cash Advance"", and a couple more. Fake website listings too, but they'll never give you a website of their own to verify who they are. Direct lenders have more to back up their claims and offers. Credit ratings under 620 would not qualify for interest rates under 29%, unfortunately, and ESPECIALLY without collateral or asset consideration. Anybody else in a bad credit situation, DON'T BELIEVE THE HYPE! Find a local credit union and plead your honest case. There are installment loans out there with interest rates in the APR 60% and up range that are more legit, albeit pricey. CREDIT RATING 600 or BELOW, NO COLLATERAL: You'll be lucky to find a 130%-200% APR, or in that range. Anything less could very likely be bullsh*t, so do some research and DO NOT FALL FOR UP-FRONT FEES!!! I've taken out 2 installment loans with APR 135% to 220% in desperation, but those rates are WAY better than what some of these companies will stick you with, and my credit is below 600. Don't settle for the robbery out there until you shop around.