Loans that are in "Default" are loans for which borrowers have failed to make payments for an extended period of time.  In general, a Note enters Default status when it is 121+ days past due.
 
A loan becomes “Charged Off” when there is no longer a reasonable expectation of further payments.  Charge Off typically occurs when a loan is 150 days past due (i.e. 30 days after the Default status is reached) and there is no reasonable expectation of sufficient payment to prevent the charge off.  In certain circumstances, loans may be charged off at an earlier or later date.  Please note, loans for which borrowers have filed for bankruptcy may be charged off earlier based on the date of bankruptcy notification.
 
A loan that is in “Default” will still appear in your Notes, in the status of “Default,” while a loan that has been “Charged Off” will appear as charged off, and the remaining principal balance of the Note will be deducted from your account balance.  Learn more about what happens when a loan is charged off.

Learn more about the different loan statuses.
 
Learn more about historic loan performance on the LendingClub platform.