Have you searched for Lending Club in the search engine and you found terms like LendingClub scam or Lending scam? Well, this would surely scare you out. However, you should not immediately think that Lending Club is a fraud because it is not.
If you are looking to get a loan then you could surely apply one from Lending Club. The company has all the necessary requirements and legal documents that will prove that they are indeed running a legitimate business. In fact, they are offering competitive interest rates to borrowers depending on the credit score.
Now, if you are seeing keyword suggestions like “”Lending Club Scam”” or “”Lending Scam”” in Google and other search engines, this is because many people are searching for the term to know if the company is a fraud or not. Well, if you will read all the results closely, you will realize that the company is far from fraud.
When you are one the best, you often experience issues that could bring you down and Lending Club is not an exception. There was once an issue that Lending Club was a scam that is why on their website, Lendingclub.com complaints section, people can write about anything they have to say about the said company.
When you search on the web about lending club, the word scam always appears next to it. Saving their reputation as one of America’s Most Promising Companies per Forbes 2011, have adopted a complaint policy wherein the company’s employees and the clients can report illegal transactions or activities made.
Lending Club has been in the business for over five years now and is regulated by the US SEC. Rest assured that Lending Club is not a scam and if by any chance you are still in doubt, you can visit their website anytime; or you can do further research about the company.
From what I’ve heard over the articles circulating on the internet, a lot of people are hanging their complaints on this Lending Club firm. Some are saying that it’s a bogus company trying to scam every American to fall in their trap, while the others are saying that it is perfectly safe to invest and later on reap the rewards of the investment in due time.
Recent consumer reports are complaining other credential not being asked from them like any other legitimate lending firm would ask. Lending Club complaints range from unanswered questions to undeclared policies, limited reinvesting, and so on.
Well, from my point of view, Lending Club is only a few years young since it just started last 2006. I say we give time, some room to grow and prove itself before we purge it to oblivion. It might be unfair to its administration and developers that people are judging it already without any proper trial.