Whether you’ve paid off the balance, settled it, or the loan is sold, the charge-off status will stay on your credit report for 7 years. If your charged off loan hasn’t been sold yet and you would like to begin making payment, please contact us immediately at [email protected]lendingclub.com or call us at 844-227-5011.Click to see full answer. In this regard, what credit report does Lending Club use?It is calculated by credit scoring models such as FICO and VantageScore using credit information reported about you by lenders, banks and other financial institutions to the three main credit bureaus—Experian, Equifax, and Transunion. is the lending club a good idea? LendingClub has become one of the more reputable destinations for online personal loans, usually an ideal method to borrow for a special need or credit card debt consolidation. It helped to originate peer-to-peer marketplace lending, which matches borrowers with investors who are willing to fund the loans. Subsequently, one may also ask, what is the lending club scandal? Lending Club, which went public in 2014, has seen more than 80% of its market value wiped away since. The company saw an exodus of investors and a fall in revenue after a fraud scandal and the resignation of its chief executive, Renaud Laplanche, in May 2016.How long does it take for Lending Club to fund?The whole application, approval, and funding process takes on average 7 business days. In some cases, it can take a little longer. Once a loan is approved and backed by investors, the funds are electronically deposited into your bank account. Depending on your bank, this can take a few days.