Consumer complaint received 2021-01-29
Product: Payday loan, title loan, or personal loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: Lending Club Corp (DE)

I had a loan payment n XX/XX/XXXX which returned NSF from my savings account. I called into Lending company at the end of XX/XX/XXXX and made the payment from my checking account ending in XXXX for {$160.00} and was advised this was my final payment. In XX/XX/XXXX I received an email from Lending Club reminding me of a payment due. I called into the company on XX/XX/XXXX and spoke with a representative who told me that my payment that I made in XXXX had a final balance of {$1.00} due to interest owed so I made the {$1.00} payment. I then received an email on XXXX XXXX from Lending Club saying they still hadn't received my payment for {$1.00}. My loan should have already been paid off with my Number payment. I called into the company again on XXXX XXXX and was told that I owed more than {$1.00}, I owed {$1.00} so I paid {$1.00} and this drafted my account successfully. I called in and spoke with another rep the same day just to be sure and she advised me that both of my XX/XX/XXXX payments returned from XXXX  XXXX XXXX as NSF even the payment from my account ending in XXXX and that I still owed a full payment. I went to my XXXX  XXXX XXXX account and it did not show that my XXXX payment returned, it showed that it debited my account XXXX XXXX for {$160.00}. I logged into the Lending Club.com profile to make this payment she said I owed just to be sure I didn't have any late reporting to my credit report. I reached out to Lending Club while I was logged into my account through the chat feature to try and get the final payment resolved. The representative named XXXX said the loan pay off was {$160.00} so I made the final payment with the representative through chat on XXXX XXXX and he confirmed in the chat that the loan was fully paid off however that payment never drafted my account. I received a letter from Lending Club in the mail dated XX/XX/XXXX saying that I missed my XX/XX/XXXX payment which was due on XX/XX/XXXX. I called into Lending Club again on XXXX XXXX and was told I still owed another full payment. I paid another payment with a phone rep with LendingClub today XXXX XXXX even though I feel now that I have over paid because I don't want this to mess up my credit. She said they could report me late for missing my payments but I have tried everything I could to get this loan paid off. I told her that the payment I made in XX/XX/XXXX did not return my account NSF like she was saying and I emailed her a copy of my XX/XX/XXXX bank statement ending in XXXX  to her email XXXX showing that Lending Club drafted my account successfully. She said she was opening a request to have the back office look into that statement and possibly reversing any late reporting that may have resulted from their system showing that my payment was returned NSF. I also asked to have a manager return my call. I also emailed her a transcript of the online support chat I had with the representative from Lending Club on XXXX XXXX showing that I also tried to make sure this loan was paid off and resolved. I even confirmed with the rep in the chat if the loan would be paid off after my payment with him and he said yes. I have attached the conversation with the Lending Club chat representative below. 

XX/XX/XXXX, XXXX XXXX Chat started Agent Can we help you with making a payment today? We are here to support you and assist with getting your account back on track. 
Im try to pay off my loan XXXX joined the chat XXXX XXXX, XXXX XXXX. Thanks for chatting with me today. Give me just a moment to review your account so I can answer any questions you have. 
Before we start discussing your payments, I want to let you know that this is an attempt to collect a debt and any information obtained will be used for that purpose. This chat conversation will be saved for our records. 
The payoff good through XX/XX/XXXX would be for {$160.00}. Did you want to use your XXXX  XXXX XXXX checking account ending in XXXX to pay off the loan? 
Yes XXXX XXXX! To confirm, I understand that you, XXXX XXXX, authorize LendingClub to withdraw from your checking account ending in XXXX on XX/XX/XXXX for the amount of {$160.00} to pay off the loan. Do I have your authorization to ACH debit this account on the date ( s ) we have discussed? 
Chat ended XX/XX/XXXX, XXXX XXXX  Chat started Yes XXXX joined the chat XXXX Hi, XXXX XXXX. Thanks for chatting with me today. Give me just a moment to review your account so I can answer any questions you have. 
Before we start discussing your payments, I want to let you know that this is an attempt to collect a debt and any information obtained will be used for that purpose. This chat conversation will be saved for our records. 
Looks like we got disconnected. So moving forward : To confirm, I understand that you, XXXX XXXX, authorize LendingClub to withdraw from your checking account ending in XXXX on XX/XX/XXXX for the amount of {$160.00} to pay off the loan. Do I have your authorization to ACH debit this account on the date ( s ) we have discussed? 
Yes XXXX Awesome! You'll be getting an email confirmation for that payment soon. Our phone number will also be in that email. 
Just so you know, it can take up to 60 days to see your loan as " Paid Off '' on your credit report. If your payoff isnt showing after 60 days, please contact us again, and well be happy to help. 
XXXX Just so you're aware, since your making your XXXX payment beyond it's grace period, it will have the potential to be outsourced to a 3rd party company. Usually we'll charge a late fee, but we're not assessing any late fees during the pandemic. Also, you'll be marked internally late on your account, but no negative credit reporting will take place since you're making the payment within 30 days. 
The payment today will close your account. 
Sir I was told my last payment was the payoff which is the only reason its late I was never late with your company until there was an issue with the savings account on file for the month of XXXX XXXX I'm just letting you know where your account stands before you paid off your loan. The payment today will close your account. 
Yeah and Im trying to tell you thats an error because I called in XXXX to pay the loan off and was told that was my last payment Then I got an email notification saying I owed for XXXX so I called in and was told I had a {$2.00} balance I paid that XXXX I do see that. Well looks like you don't have to worry about it anymore. 

XXXX last thing. I just want to make sure your contact information is up to date. Has anything changed with your address and can you confirm your phone number please? 
Then I logged in just now and its showing another whole payment so thats why Im paying it..Im asking for this to be reviewed and updated so it doesnt affect my account in any way My info is fine XXXX XXXX! Just to recap, you paid off your loan today for {$160.00} out of your XXXX  XXXX XXXX checking account ending in XXXX. Your next due date is XX/XX/XXXX, but once the payment goes through for today, no further payments are due in full. 
Just to clarify this loan is officially paid off correct? 
XXXX XXXX. 
I just want you to know I told you about an issue and you said you dont have to worry it about it anymore..this will be my last loan with your company Take care XXXX XXXX XXXX XXXX Thanks for chatting with me today. If you need to chat with us again, our business hours are Monday Friday, XXXX XXXX  XXXX XXXX, or you can reach us by phone at XXXX Monday Thursday, XXXX XXXX XXXX XXXX, Friday, XXXX XXXX XXXX XXXX, and Saturday, XXXX XXXX  XXXX XXXX  PT. Have a great rest of your day! 
XXXX left the chat Chat ended Today XXXX XXXX Chat started Agent Can we help you with making a payment today? We are here to support you and assist with getting your account back on track. 
Chat ended