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re: Tell me about lendingclub.com - pretend I'm a 4-year old child
Posted on 1/19/15 at 1:58 pm to dantes69
Posted on 1/19/15 at 1:58 pm to dantes69
quote:
dantes69
How does it work as the borrower? An employee asked me to help him clear an irs lien. I suggested this type of loan and he applied right in front of me in my office. It said something g like "no match" or whatever.
Btw...he has 650 credit which is lowered by the lien which be immediati released when he pays the 12-13 k.
I do NOT want to lend a rep money. Where else or how else should he be approaching thru loans like the site you invest in?
This post was edited on 1/19/15 at 2:19 pm
1
Posted on 1/19/15 at 3:00 pm to GeeOH
LINK
Borrowers reduce their rates by an average of 30%1!
Borrowers who used a personal loan* via Lending Club to consolidate debt or pay off high interest credit cards report in a survey that the interest rate on their loan was an average of 6.6 percentage points lower than they were paying on their outstanding debt or credit cards.
How can Lending Club offer better rates to borrowers?
The loan application process through Lending Club bypasses many of the costs and the complexity of a traditional bank loan. These savings are passed through in the form of lower rates. Lending Club does not have the high administrative, marketing, and infrastructure costs of a traditional bank loan program and therefore can reward members with an efficient process and cost savings.
lots of info, to much to put here, follow link and read up on it.
Borrowers reduce their rates by an average of 30%1!
Borrowers who used a personal loan* via Lending Club to consolidate debt or pay off high interest credit cards report in a survey that the interest rate on their loan was an average of 6.6 percentage points lower than they were paying on their outstanding debt or credit cards.
How can Lending Club offer better rates to borrowers?
The loan application process through Lending Club bypasses many of the costs and the complexity of a traditional bank loan. These savings are passed through in the form of lower rates. Lending Club does not have the high administrative, marketing, and infrastructure costs of a traditional bank loan program and therefore can reward members with an efficient process and cost savings.
lots of info, to much to put here, follow link and read up on it.
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