Lending Club Corporation Consumer Loan Complaint

Lending Club Corporation Consumer Loan department,

Installment loan Problems when you are unable to pay California

I had a loan from Lending Club in the amount of $35000.00. It has recently been charged off and now I owe around $37000.00 to them. My financial situation became dire last year due to some increased financial obligations to family members and house that we recently took over. Prior to these sudden changes, I had made - successful payments on time with this current loan, as well as several on time payments with another Lending Club loan before I had it paid off. Due to falling delinquent around - of last year, I attempted to make several arrangements to catch up but fell short. As a result of that, around - of last year the loan was referred to a collection agency called - -. I began working with them to establish a


my loan. When I was told that, I was extremely upset and placed a stop payment on the - payment as I got tired of getting the running around from them. Every time I called Lending Club they they said I could n't speak to them and I needed to speak to -. When I called -, they could not give me any more details other than the delinquent balance. Today is - and I have sent - emails and made several calls to Lending Club ( to which I finally got a call back ). I wanted to discuss settlement options with them to alleviate the balance owed as my credit score dropped to the - range from around -. The settlement option they gave me was over a 12 month period for a balance of about $24000.00. I told the representative on the phone that I fell behind on my monthly payment of $1000.00 and for them to expect me to pay double that per month over 12 months was assanign. I had to ask the representative the following question twice, " how can a person who ca n't pay -, now be expected to pay double the balance at Y? '' I need assistance here for this matter as I 've never had a delinquency before. I am a single income supporting my wife and - children and I want to make this right. To add insult to injury, I just got into a car accident last week and I feel my car might be deemed salvaged by the insurance company given how old it is. So my only form of transportation to work might be taken away, and now that I have a horrible credit score, I would n't be able to get a car lease or a loan to purchase a new car if I wanted to.