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When it comes to LendingClub, there are two very strong opinions: it’s either a scam or it’s legitimate. So which is it? In this LendingClub review, we’ll take an in-depth look at the company and try to answer that question. We’ll also explore what kind of personal loans LendingClub offers, how the process works, and what you need to know before you apply.
This company has been in business since 2007. They offer personal loans between $2000 and $40,000, and the process of applying for a loan is relatively simple. You can get pre-approved in minutes, and if you’re approved, you can have the money in your bank account within days.
Lending Club is being accused of duping its customers by increasing the interest rates after they’ve agreed to take out a loan. The Federal Trade Commission (FTC) filed this complaint against them on April 25th, 2018 for violations related to bait-and-switch tactics and false advertisement at least according to what was announced during an awards ceremony where one recipient got $1 million dollars as compensation!
If you are considering taking out a personal loan from LendingClub, be sure to read the FTC’s complaint carefully so that you are aware of all of the potential risks involved. You may also want to consult with an attorney before signing any paperwork. Remember, if it sounds too good to be true, it probably is!
If you have already taken out a personal loan from…
