Agency charged the company with deceiving loan applicants about hidden fees Online lender LendingClub Corporation agreed to pay $18 million to settle Federal Trade Commission charges that the company deceived consumers about hidden fees that it charged and about whether their loan applications were approved. In addition, the settlement bars LendingClub from making misrepresentations to …
Question: Dear Steve, I owe a personal loan for 5,000 dollars. I was able to put all other debt in a credit counseling program. But Lending Club would not participate. I am on SSI and can’t work. LendingClub won’t work with me by lowering payments or interest rates. I am 90 days late. What can …
Question: Dear Steve, I have a couple of credit cards and 2 personal loans 1 is with Lending Club for 500. Would lending club give me a consolidation loan even if I have a loan there sounds stupid who knows? Richard Answer: Dear Richard, Damon Day and I answered your question yesterday on our podcast. …
For the most part the announcement from the Office of the Comptroller of the Currency (OCC) are painful boring. Sorry fellas. But this one looks like it could provide some innovative changes to the banking industry that could disrupt things for the better. The OCC says: “On December 2, 2016, Comptroller of the Currency Thomas …
Question: Dear Steve, I have $40,000 in credit card debt (accruing interest) and about $10,000 currently on 0% promotions. Tried to consolidate via credit union or with Wells Fargo a several times over the years. They all declined for the same reason: too many high balances on revolving debt. Well duh, that is the point …
The Consumer Financial Protection Bureau (CFPB) has ordered Springstone Financial, LLC to provide $700,000 in relief to victims of deceptive credit enrollment tactics. Many consumers who signed up for Springstone’s deferred-interest loan product at dental offices to pay for dental work were led to believe that the product was interest free. In fact, interest accrued …
“Dear Steve, I applied at LendingClub.com and at Prosper.com for a loan to consolidate my debt. I was declined at both. I have been trying to find a solution to consolidate my debt and eventually eliminate it. No places simply want to provide a loan. My credit score is good (690 ish). What other steps …
“Dear Steve, In debt to my eyeballs, starting with under-employment and day care for three kids, including infant twins, 10 years ago. Paid cash for day care and put everything else on credit particularly when husband was unemployed. Snowballed from there. Now have a loan from credit union (less than $10,000), two massive credit card …
“Dear Steve, We own our home, have kept all of our monthly bills up to date and have not defaulted on anything, (maybe a little late but always paid) I have a mortgage, home equity, personal loan a student loan, a auto loan and 2 high credit card bills. We are pretty much at a …
“Dear Steve, I have two lines of credit and one credit card and my husband has an ATV loan all totalling approx. $32000.00. The two line APY’s are great but the credit card APY is outragious and the ATV APY could be better. Is there a way that we could consolidate these four debts into …