Lending Club is awesome! From start to finish, less than a week! They kept me informed of what was going on and I was able to watch investors invest in me! This was a terrific experience!!!
I have nothing but good things to say about this company. I applied this morning and was approved by lunch time. The customer service is great. The lady I talked to on the phone was very helpful and friendly. I received email updates and not only did I receive an email when I was approved but I also received a text message. The application process was very easy and didn't take long.
The only thing that I would say that was a negative thing was that they took an origination fee that seemed a little high. But it was worth paying since I think this company was great and I should receive the funds tomorrow (they said that the funds should be deposited the next business day as long as I accept the offer by 5 pm EST).
Thank you for everything! Because of this loan, I will be able to get my deposit in for my wedding venue by the deadline so they can reserve my wedding date.
Please, these reviews are clearly sponsored and not accurate at all. They charge you close to double what you are originally lender. You are not able to pay off your loan early either. I regret this completely. I have paid off more than 1500 of my 2700 yet it still shows I've paid 599 of principal balance. What a fraud.
The only negative about the experience was not being made aware (unless I missed it elswhere by not reading carefully :) that the approval/rejection process could actually range from about 2-6 weeks---until I was already well into the application process. I also feel that some of the language used on the website is somewhat misleading in terms of my thinking I was already approved, when I actually had not yet been. The process was easy to follow, and the communication from the company was prompt. :)
I applied on a Sunday night and was approved by Tuesday afternoon. They sent a verification email to my work email and asked for a copy of a bank statement that was it. You can select your terms as far as how many months which changes payment amount. The only thing I did not like was they base your amount that you can borrow based off of your credit report. One credit card balance was a lot higher than credit report showed so I would have had to wait another 30 days to see if company updated credit report. But other than that no issues and a smooth process
As someone with student debt, I've been considering refinancing my student loans to avoid the high interests I have been paying for years. My husband recommended I check out "Earnest" as it was given positive reviews on Reddit. Excitedly I went onto their website, filled out the forms, and waited to hear back. Now on their website it says: "Get your estimated rate and savings in 2 minutes without affecting your credit score" which let me tell you, that's a load of BS! It took me approximately five days just to hear back and once I finally did, they said I was denied. So inbetween those five days of waiting, I had to continually answer all these random questions they kept sending me about when I had transferred schools, etc. They even went so far as to having me send them a recent paystub which I did. Apparently what I was told by Ariel on their customer service chat, if you transfer schools and had taken loans out from those schools but did NOT graduate from said school, Earnest will NOT refinance those loans. So basically, you have to have graduated from the school your loans were taken out from (which is not public information) in order for them to be refinanced. So after all that hassle I went through with these people, my loan application was denied because of three reasons:
1. According to Earnest, apparently I "did not" graduate college even though it shows on my application I did, just not from the school my loans originated from. Why that matters I DON'T KNOW! Other companies don't give a hoot but yet little old Earnest does?
2. Apparently my "debt-to-income ratio" is too high even though I make $32,000 a year, have no credit card debt, a credit score of 785, and SHARE a mortgage payment with my husband. Even my husband calculated what I pay each month for bills, etc and found I only have a 30% debt-to-income ratio which is minimal. Heck, when I got my car loan, I was giving an interest rate of 3.2% because of how good my credit score is!! Earnest, I think someone in your accounting department needs to go back to school ;)
3.Acorrding to them, I also have a "low positive cash flow" even though I live comfortably, have never missed a payment on ANY loan or bill, and have over $12,000 combined in both my savings and bank account. But yet I have a "low" positive cash flow? How is that possible when I make $32,000!!
Please, please, please do NOT use this crap-hole of a company and waste your time by answering all their BS questions. It's not worth it when they're really not taking everything into account and don't make it known what they can and cannot refinance. Oh and don't even mention to their customer service department the whole "get your rate in 2 minutes" crap, they'll just argue it and say it only takes "2 minutes to fill out the application and then another day or so to get the rate". Well don't put that on your site then if it's not true. FALSE ADVERTISING!
I have applied for $10500 personal online, After Salary and address verification document submitted online July2014, after verification Loan was approved with 3 years term. I have paid off this loan this month (June 2016) without any additional prepayment penalities added to loan. when I was applying loan i had only less than 2 years credit history and approved with decent interest rate.
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