Hello! I’m looking for some good and honest help regarding a Lending Club loan. Please be kind as I have not had to deal with this before, and I am doing my best. I’ll try to include most of the details.
I took out a Lending Club loan in 2021 for about $11,000.00. I made payments regularly until February 2024 (this year), my last payment being 02/21/24. I had MAJOR issues financially (lost one of two jobs) and could not pay Lending Club my monthly payment for March. I emailed them in mid-April informing them that I want to make a payment. I emailed them 2x each month (April, May, June) and only received a response every time telling me to “call”- meanwhile I was working two jobs at that time and physically could not call them during their hours of operation, which is why I consistently emailed. For reference, when logging in at that time I was physically unable to make payments- there was a message on my account telling me to “call for more information on your account status” and no way to make an online payment. I asked for info on the status of my account, told them I was ready and willing to make payments, etc. I never received any phone calls, letters, or additional emails from them. They told me "call in" everytime. I am also HOH so calling in is not something that always works for me, especially if there are strong accents or spotty signals. I even said in my emails that I am HOH and it is easier for me to email, they said "find a trusted individual to call for you" and did not work with me at all. I let it go (yes, I’m aware it was not the best idea at the time). Meanwhile my missed payment continued.
Fast forward to July. On 07/29/24, I actually took a whole day off work to call them myself and figure things out. I spoke to a rep who immediately stated “We are trying to collect a debt" etc. but I had to speak with her because I was getting no responses via email since April. She was confusing and not answering my questions fully. She told me I was $1,880 behind in payments and that if I made a payment today, the account could be held off from being charged off. I agreed. I scheduled a $1,000.00 payment on that day to be pulled August 1st, which it was. I also asked about paying the rest of the balance (about $900) and she told me “You need to pay the balance, as well as your normal monthly payment, by 8/17 (which is my normal payment date). She even said "you're very lucky ma'am it hasn't been charged off yet, remember to call us back and pay the rest of your balance and it won't be charged off." I told her again, I cannot physically make a payment on my account because it is blocked, she said to call in before the 17th and schedule it. I said okay and planned to do so.This call is recorded in their end, I did not record it.
Yesterday, 8/7/24, I received a notice from my credit monitoring company that Lending Club put my account into derogatory status/charge off. I was so confused. I immediately called Lending Club who were totally unhelpful. The woman I spoke with told me the account was charged off on 07/31/2024, two days AFTER I spoke with them and scheduled over half the past due balance. I explained to the woman the same thing, I called before it was charged off and scheduled a large payment, and that the woman I initially spoke to told me clearly that I needed to pay the rest of the balance and my normal monthly payment by the 17th. She basically told me nothing helpful, and kept repeating that I was 134 days without payment, even though I scheduled and paid towards it before charge off. This call was recorded AND I recorded it for my own records.
How do I proceed with this? I am confused because after researching (just a little) I thought charge-off occurs when a lender is no longer expecting to receive payment and attempts to reach me were unsuccessful… I reached out to them six different times via email asking for assistance to make a payment, and I called them, spoke with them, and scheduled over half the past due balance two days before It was charged off, so how could they think they would not receive future payment? I even told them that the rep I first spoke to told me to make the rest of the past due by 8/17 and this would hold the account from being charged off, I feel I was tricked and given completely wrong information. I told the rep today, the entire phone call is recorded, please go back and listen to it because this is the information I was given, I did exactly what you asked me to. After a lot of holds and no help, she told me her supervisor will be reviewing the audio call (I doubt it) and would call me back in 24-48 hours, which I also doubt. Today, 8/8/24, I received emails that the charge off was reported to two bureaus already. I still haven't received any call from them.
Anyone have any advice on what my options are here? I still have a lot of questions:
-Will Lending Club remove the charge off at all? I was literally planning to pay the outstanding balance and a full monthly payment on 8/17, as I was informed to.
-I have not received any contact/mail from Lending Club or any other debt collector about this account. Should I expect it? Is paying a debt collector advised?
-Is the charge off amount normally for the past due balance? Or the entire loan balance?
I feel like it’s my word against theirs and I’m very upset because I made a lot of efforts to get on good terms with them. It seems very strange that it was charged off over 48 hours after I spoke with them and scheduled a payment. Just very confused! I've never had an account charged off. I was planning on leasing a new car next year and now I am afraid my credit will be shot over this, I don't believe it should have happened. Any help would be so, so appreciated.
Thank You all.
