Cancel LendingClub account with zero effort

LendingClub is an American peer-to-peer personal loan marketplace that matches borrowers and investors across the nation. LendingClub is the world’s largest peer-to-peer lending platform that accounted for $8.987 billion in loans back in 2017.

More than 40% of loans acquired through LendingClub were used for home refinancing, while under 20% of them were used for paying off credit cards.

Most LendingClub borrowers have excellent credit scores, typically around 700, alongside a low debt-to-income ratio.

Do you need to delete your LendingClub account?

In case you were wondering if you need to delete your LendingClub account after you have repaid your loan, the answer is no.

As soon as your loan is completely paid off, LendingClub will automatically shut down your account. The same goes in case you get turned down for a loan.

After you have paid off your loan, LendingClub will report the payoff to the bureaus within 30 days. If you want to receive a payoff statement, you can do it by:

1. Contacting LendingClub’s customer service by phone
2. Requesting the payoff statement by filling out a form on the company’s website

Canceling your LendingClub loan application

What happens if you change your mind regarding the borrowed loan from LendingClub?

You have the right to change your mind, of course, but you will have to notify the company as soon as you possibly can. According to the LendingClub, you have five calendar days to cancel your loan from when it gets funded.

It is advised that you keep the whole amount on your account, and the company will try to withdraw the money within five to seven business days.

What about balance transfer loans?

When it comes to canceling balance transfer loans, the process is a bit more difficult. Since the LendingClub cannot retrieve funds from your creditors, you will have to do it yourself. The company grants you thirty days to recover the funds to your account and notify them about it.

Note that you will be responsible for repaying the loan, including the fees and interest if you fail to retrieve the money within a month.

Canceling personal loan applications

In order to cancel a personal loan application, you need to call 844-557-2551, Monday to Friday, from 6 am to 5 pm Pacific Time.

Canceling auto refinance loan applications

If you have changed your mind about the borrowed auto refinance loan, call 888-845-0010, Monday to Friday, from 6 am to 5 pm Pacific Time.

Canceling small business loan applications

For canceling small business loan applications, you have two options at your disposal:

1. You can contact your Client Advisor directly
2. Call 855-846-0153, Monday to Friday, from 7 am to 5 pm Pacific Time

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Best LendingClub alternatives

If the LendingClub has failed to meet your expectations or needs, there are plenty of other peer-to-peer lending platforms you could turn to. Some of the best ones are:

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