LendingClub

I immediately called Lending Club and was told that I can't break up the payment, I can make an extra payment if I want to but it can't be broken up even if the amount is paid before the due date. Talk about a blow to the face, you get these emails saying take a loan to help pay off your debt and yes it all sounds good but nope that's not the case. So after making months of payments I applied for SCRA the Soldiers and Sailor's Act to try to lower the payments because these payments are killing me.

This company has said no every time I have applied. So last year I deployed to Iraq and even provided a copy of my orders to see if me being out the country works because that is how the benefits works. After sending the emails and not hearing anything for a while, I finally got my hands on a calling card and called this company. Again they denied this benefit, and I told them, "I'm not trying to get out of paying this, but lower the interest rate." She informed me that you can't refinance, nor can the interest rate be lowered. "We are not obligated to order the SCRA because you were already in the service when you took this loan."

So I'm finally back because I was overseas when COVID-19 took off, and again they are no help. I keep explaining to them now the money isn't coming right now and I need to lower these interest rates because I need to make up payments that my spouse can't make. I have other bills that are coming in and I need to pay those as well. I even asked if I could break the payments up instead of the payments being taken out all at once, and guess what. I was told no again. I have called and they said I could make payments late with no penalties but I don't want to be late, nor do I want to miss any payment, I would like the rates to be lower, or let me break the payments up.

Finally being home I was able to call to and asked how can I write a review and was told to send an email if I want to write a review. Any of my friends who are going through hardships due to COVID-19 I would not recommend this company, they are no better than payday loan stores if you ask me. I have so much to say but I doubt anything would be done. If you are Military do not work with this company. They are not military friendly at all. If I was trying to get out of making these payments then I would understand your company saying no, but I'm trying to do the right thing by making these payments. I took this loan to get out of debt, but now it's like what's the point since you don't have the money to pay your other bills.

A few weeks later, I get an email notice that my June payment is late, despite showing the large payment I made. I contacted LendingClub through the web site to find out why this was the case, and they let me know that I still had some deferred interest to cover. "Sure," I said, "but why am I showing that I'm late on a payment AND why does the site say I owe $0?" Before forking over more money, all I asked was for a statement so that I could have an official document showing that I owed what they said considering my account on the website showed no balance; they simply responded back with a dollar amount in the body of the email and no explanation.

I called directly, and stated that I was willing to pay whatever was legitimately owed, but I wanted to see some breakdown, and the online portal for my account had nothing on it, showing that I owed $0. I was told, "I'm sorry that's how our system works, I know it's a problem; our website kinda sucks." I could tell the customer service person was genuinely sorry but couldn't really help.

I also inquired about why I was showing a late payment when I paid a larger-than-required amount TWO DAYS BEFORE THE DUE DATE, as I take my excellent credit very seriously. The service rep said not to worry about it. Within two weeks, I got a threatening email stating I would be reported to the credit agency for being late on my loan payment. I called and again spoke to a customer service rep who was trying to help, but couldn't. She said I needed to speak to a manager, but unfortunately, there was no manager there that day! Please keep in mind, I was talking to her mid-afternoon on a Friday, not in the middle of the night! She said it did appear I was about to be reported to the credit bureau.

I decided to simply make the payment that I was told I owed without substantial documentation rather than fight with the credit bureau for months on end since no one at this organization could either explain why I was showing a late payment or provide even a remotely helpful financial statement showing what I still owed. This is without a doubt the most backward, useless lending organization I have ever interacted with, and throughout both my personal and professional life, I have interacted with quite a few. Marcus by Goldman Sachs, My Best Egg, Chase, SoFi, and many others are much more responsive, knowledgeable and helpful, and their sites actually work as advertised.

The customer support is slow and hard to access--I would make it hard to access to if the most basic elements of the website as dysfunction--so I haven't heard back. Needless to say, I never made any investments and I didn't want a loan so forcing the loan application down my throat didn't achieve anything. I don't understand how a company based in SF could have such incompetent people in control of the user experience and design--it is the front door of the business.

I understand that it doesn't add up to a lot, but this is not acceptable to me. I am guessing that they do this to many clients and it does add up to a significant amount. When I spoke with customer service at Lending Tree they told me that they processed the payment when they got to them and they do not back date the payment to date received. They also wait for my payment to clear my bank account before posting the payment to my account. When I asked to speak to a supervisor I was told none were available and that they couldn't do anything to help me anyways. This is absolutely not the way to treat your customers. I will never use this company again.