lending club questions

[del_lali]

i am in the process of getting a debt consolidation loan with lending club.  i have completed their "to do" list, its fully funded, and now i'm in the final review stage.  they have not (yet?) requested any documentation nor have any investors asked any questions.  is this a total longshot?   credit score of 678 with a higher dti ratio...thus the loan, to pay off credit card debt.  i also work for myself, and no one has called to verify my income or anything.  has anyone else in a similar situation gone through this and it worked out?  just wondering if this is a long shot....

thanks! 

[Anonymous]

if you say you are employed, they will call your employer to verify information. 

This is simply them calling into the office and verifying that you work where you say you work. They, to my knowledge do not ask your employer about your income.

If you claimed that you were self employed, I think they look elsewhere to verify income.

Lending club is a great service, many friends have utilize them and felt like they are an honest business. They fund within 14 days of application if everything checks out.

[Anonymous]

I applied for a debt consolidation loan for my boyfriend on 12/29. I immediately verified my email address and my bank account info. After waiting 9 days with no other request for information and no correspondence, I called to check the status. The guy was helpful, but basically said that I was all set and just had to wait for the final review.

I left for vacation on 1/9 and didn't return until 1/19. Still no word or correspondence. On the 20th, I called again to see what was causing the delay. The guy acknowledged that it had been an unusually long wait. Long story short, they gave me some vague answer about having a hard time verifying my employment. I don't buy it...I think I jut fell through the cracks.

Regardless, a quick email verification from my work account fixed that. My status finally changed on the website the next day and I had the money in 3 days. Start to finish, 25 days.

Oh well, sh** happens. Got the money, used it as intended and my first payment is due soon. All in all I'm happy. Got a great interest rate. 

Be patient, but don't be afraid to call and check if it drags out.

[del_lali]

thanks so much for your experience.  i'm still sitting in final review, and i actually just emailed them to check in and offer to provide anything they needed to finalize.  just ready to get this cc debt organized and paid off, so am antsy to get this taken care of! thanks!!