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Lending Club....do not even try if self employed

vanskills
Valued Member

Lending Club....do not even try if self employed

So for the heck of it i tried a Lending Club loan because they send me mail all the time

 

Info on me:

 

1. 715, 705, 701 FICO credit scores

2. $220,000 a yr income (only claimed $175,00)

3. One medical collection for $539 from 2011 (doing hippa process now)

4. 15 credit cards with $96,000 max (using $21,000 currently) "usually" pay off every month

5. Two car loans and Harley with $96,000 balance

6. Never pissed a payment on anything (except that medical collection of course)

7. last year had $125,000 W2s and $60,000 1099, Toal tax return $185,000 in 2015

8.2016 all 1099 (make $1010 a day consulting for oil company thorugh my LLC)

 

So basically last year around 7.1.15 offered a consutling job with pays 1099 and goes though your LLC (own business), been 1099 since than

 

Applied for Lending Club $25,000, sent in a BUNCH of paperwork they wanted, tax returns, W2s (last year) utility bill, etc etc..

 

Recieved a call from someone that sounded like he was 15 years old and he said " I can only verify $56,000 of your income" and rambled on about how im no longer a W2 worker (uh yea, duh, i know!)

 

Went to supervisor and said he couldnt verify my income this year because of no W2's (again...duh..i dont get W2s!)

 

Anyway im not mad at all, I didnt even need the money i just wanted to see if it was for real and wanted to post my experience here in case someone cares Smiley Happy

 

 

Message 1 of 5
4 REPLIES 4
Yes-Its-Me
Super Contributor

Re: Lending Club....do not even try if self employed

Sorry to hear.  You should look into SoFi.  They have great reviews.

Message 2 of 5
CAPTOOL
Senior Contributor

Re: Lending Club....do not even try if self employed

I'm self employed and had no difficulty getting a Lending Club loan.

Message 3 of 5
vanskills
Valued Member

Re: Lending Club....do not even try if self employed

Cool..

 

Just relating my experience

 

 

Message 4 of 5
Appleman
Valued Contributor

Re: Lending Club....do not even try if self employed

Thanks for sharing your experience. I am +1 for trying SoFi.com

Message 5 of 5
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