Consumer complaint received 2020-06-03
Company: Lending Club Corp
State: MD
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
My formal complaint is as follows : Due to the Coronavirus Global Pandemic devastating our nation, my account with Lending Club was placed on COVID-19 Disaster Relief program which entails, I will not be charged late fees or reports of any missed payments during the program to credit reporting agencies. 
Lending Club has admitted their error and has agreed to remove the false reporting however, there are two late payments have yet to be removed, as a result I am unable to receive Paycheck Protection or any SBA Disaster Relief Loan for my business. 
My company XXXX XXXX is headquarted in XXXX XXXX ; California and was government ordered shut down in XX/XX/2020 and our Govenor XXXX XXXX extended the stay at home order another 3 months. As a law abiding citizen of the United States who fell victim to the global pandemic, along with millions of Americans ;  there should be a Emergency Law for a moratorium for all consumers who have a loan, mortgage or credit card from negative reporting being placed on a consumers credit file starting in XX/XX/2020 until the COVID-19 Coronavirus is no longer a threat to our entire country and small businesses. XXXX XXXX has a Re-Opening in 5 Stages. XXXX XXXX is currently in Stage 1 and my business falls under Stage 4. My account was placed on Disaster Relief with Lending Club in XX/XX/2020, therefore there should NOT be any negative reporting of any late payment after my account received a disaster relief modification. A late payment was reported on my credit file in error in XXXX and XX/XX/2020. 100 % unacceptable. It is a sheer courtesy to forgo any negative reporting to their clients during this global crisis yet ; It is irresponsible for Lending Club to not protect its clients credit rating during this unprecedented pandemic. As a result, my business has been unable to receive Paycheck Protection since XX/XX/2020, in addition to my company not being allowed to make a profit since XXXX and Lending Club has ruined my business ' opportunity to receive any business loan as well as receive first round funding for a commercial acquisition. My business is 100 % social gathering and tourist dependent, the industries involving 10 or more patrons to generate an income were hit the hardest. Receiving Paycheck Protection and other  business funding will help aid my company to rebound when XXXX XXXX reopens. I'm seeking legal counsel, it should be illegal for such disregard of the effects of the devastation a late payment has caused my family. To add insult to injury, it is 100 % the responsibility of Lending Club agents to inform me when a late payment would be reported to the credit bureaus while I am on a recorded call to ensure I am protected. The phone records will prove I was never informed as I frequently remained in contact with Lending Club to prevent any late payments adversely tanking my score. If I was informed properly and in time, I would have avoided this crisis. The responsibility of an agent avoiding to inform me of the correct balances to avoid a negative reporting is just as NEGLIGENT as a doctor not informing a patient they have cancer and then the patient finds out from another doctor they are about to die. My husband 's prolonged illness and current hospitalization in addition to Covid-19 has caused discrepancies with my account and must be corrected due to the agents failure to inform me of my status. This is the same negligence with my complaint and now I feel XXXX, it's only so much one person can take. I have been in contact with Lending Club from the onset of my business being government ordered shut down to avoid any negative reporting as my company is in current negotiations to purchase its second property and a late payment may halt the acquisition in its tracks, therefore it is imperative these reporting errors be removed immediately. I have never had a reported late payment with Lending Club until XXXX 2020 in the heart of the Covid-19 Pandemic which is an atrocity. I would never purposely make a payment late, knowing the crucial importance to my business current acquisition? If this late payment causes loss to my company, I will have no choice but to sue Lending Club for loss damages to my company. My account was place on Disaster relief on XX/XX/2020, therefore there should not be a negative reporting in XXXX. Both negative items must be removed from my credit report immediately. The devastation this has caused my company and family is in the multi-millions. Thank you for your swift attention to this matter. XXXX XXXX

Company response to consumer: Closed with explanation