Author Topic: borrower increased payment without ever having contacted LendingClub?  (Read 2319 times)

yojoakak

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How does a borrower increase their payment amount without ever having contacted LendingClub?

For example, here they've increased their payment but there's no payment plan and no record of any contact between LendingClub and the borrower.

If payments are all done through automatic ACH transfers, how is that possible?

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=715297&order_id=2809398

thezinfan

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Re: borrower increased payment without ever having contacted LendingClub?
« Reply #1 on: December 04, 2012, 11:19:22 AM »
I've had numerous loans paid off early with no notation. LC must not note these. There might even be a way via the borrower's LC account to request a larger ACH.

AnilG

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Re: borrower increased payment without ever having contacted LendingClub?
« Reply #2 on: December 04, 2012, 07:30:17 PM »
I recently read online (can't find link right now) an account of payment procedure as described by a Lending Club borrower. That article seems to indicate that borrower need to contact Lending Club customer service via email first to make larger payment than the amount scheduled through ACH. I have three loans in my portfolio that were fully paid very early, none of them had any notation about scheduling larger/full payment.
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Peter

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Re: borrower increased payment without ever having contacted LendingClub?
« Reply #3 on: December 05, 2012, 02:30:16 PM »
I don't believe there is any way to change your payment at Lending Club without contacting them. I have been a borrower and when I paid my loan off early I had to let them know via email or phone. Now, whether they notate everything on the account...that is a different matter. We know that not everything is included in the account log.
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