lending club remove if pay: Alternative Options for Debt Relief

If you're struggling with debt and considering Lending Club's "Remove If Paid" option, you may want to explore alternative debt relief strategies.

One option is debt consolidation, which involves combining multiple debts into a single loan with a lower interest rate and a single monthly payment, as seen in Lending Club's own debt consolidation loans.

Debt management plans can also provide relief, often negotiated with creditors to reduce interest rates and fees, but may require a credit counseling agency to facilitate the process.

By working with a credit counselor, you can potentially save hundreds or even thousands of dollars in interest and fees.

Broaden your view: What Happens If You Dont Pay Debt Collectors

If you're looking for alternative options to Lending Club's "Remove If Paid" feature, consider using a debt collection agency. These agencies can help you manage your debt and communicate with creditors on your behalf.

You can also try negotiating with your creditors directly, as some creditors may be willing to work with you to come up with a payment plan.

Worth a look: Refi to Pay off Debt

Writing a goodwill letter to your creditor can be a viable option for removing collections from your credit report. This is especially true if you've already paid your debt without any agreement in place.

You can send a goodwill letter to your creditor to remove negative marks, and it usually works better with delinquencies than collections. Your odds of getting your request granted improve if you have an otherwise spotless payment history.

Having the collection taken off the report can boost your score, even if late payment reporting information remains.

LendingClub agreed to pay $18 million to settle a three-year litigation with the FTC, which claimed some borrowers were charged origination fees of $1,000 or more.

If you're one of the 15,748 LendingClub customers who will receive a refund via PayPal, you have less than a month to accept it - until February 16, 2022. Any questions about your payment should be directed to the refund administrator, Rust Consulting, at 833-630-1417.

The FTC never requires people to pay money or provide account information to get a refund.