We collect fees from both borrowers and investors.
If you are an investor, the following fees apply:
When borrowers miss payments and loans become late, LendingClub uses best practices from the banking industry to bring delinquent loans back to “current” status.
Please note the collection fees described above are the collection fees currently in effect, which may be changed from time to time. The normal collection fee is a percentage of the amount recovered: up to 35% if a collection action must be taken in respect of a loan and no litigation is involved; or 30% of hourly attorneys' fees in the event of litigation, plus costs.