LendingClub does not offer a formal skip-a-payment program
LendingClub personal loans do not include a built-in skip-a-payment or payment deferral option. If you miss a scheduled payment, the loan enters delinquency rather than moving into a structured pause. However, you can contact LendingClub directly to discuss hardship options, and the company may work with you on a temporary arrangement—but this is handled case-by-case and is not a may provide program.
The key difference: skip-a-payment programs are automatic options you can request before or as a payment comes due. LendingClub's approach is reactive. You have to reach out, explain your situation, and negotiate. There is no published timeline for approval, no standard fee structure, and no may provide they will agree.
Key Takeaways
- LendingClub personal loans do not have a formal skip-a-payment feature you can activate on your own.
- If you cannot pay, contact LendingClub's customer service before the payment due date to discuss options; waiting until after you miss a payment limits your negotiating position.
- Any arrangement LendingClub agrees to is handled individually and may extend your loan term or adjust your payment schedule rather than simply skipping a month.
- A missed payment will be reported to credit bureaus if it reaches 30 days late, so acting quickly is important for your credit score.
What happens if you miss a LendingClub payment
LendingClub reports payment status to the three major credit bureaus: Equifax, Experian, and TransUnion. A payment that is 30 days late appears on your credit report as a delinquency. At 60 days late, it is reported again. At 120 days late, LendingClub may charge off the account, meaning they write it off as a loss and may sell the debt to a collection agency.
The company also charges late fees. LendingClub's late fee is typically a percentage of your monthly payment (the exact amount depends on your loan agreement), and it is added to your balance. If you fall behind, the fee compounds the amount you owe.
Because of this escalation, contacting LendingClub before your payment is due—not after—gives you the strongest position to negotiate. Once you are already late, the company has less incentive to work with you.
How to contact LendingClub about payment difficulty
Call LendingClub's customer service line at the number on your loan statement or account page. Have your loan number and account details ready. Explain your situation clearly: whether the hardship is temporary (job loss, medical emergency, reduced hours) or longer-term, and when you expect to resume normal payments.
LendingClub may offer options such as a temporary reduction in your monthly payment, a brief pause with interest still accruing, or an extension of your loan term to lower the monthly amount. None of these are automatic, and the company will review your account before deciding. If you have been a reliable borrower with a good payment history, you may have better luck negotiating.
Get any agreement in writing. If the representative offers a temporary arrangement, ask them to email you a confirmation that includes the new payment amount, the dates it applies, and what happens when the arrangement ends. Do not rely on a verbal promise alone.
Alternatives if LendingClub cannot help
If LendingClub declines to work with you or the arrangement they offer does not solve your problem, you have other options. A personal loan from another lender with a skip-a-payment feature can sometimes be used to refinance your LendingClub loan, though this depends on your credit score and income at the time of application.
You can also explore a personal line of credit, which gives you access to funds you can draw on as needed and may have more flexible payment terms. Some credit unions offer hardship programs or payment assistance for members, so if you belong to one, contact them to ask what they offer.
If your hardship is severe and long-term, a credit counselor can help you understand whether a debt management plan or other restructuring makes sense. The National Foundation for Credit Counseling (NFCC) offers free or low-cost counseling; you can find a counselor through their website.
How a missed payment affects your credit score
Payment history is the largest factor in your credit score, accounting for about 35% of the total. A single 30-day late payment can lower your score by 100 points or more, depending on your starting score and credit profile. The damage is steepest if you have a short credit history or few accounts.
The late payment stays on your credit report for seven years from the original due date. However, its impact weakens over time. A late payment from two years ago hurts less than one from two months ago. If you do miss a payment, getting current as quickly as possible limits the long-term damage.
Comparing LendingClub to lenders with skip-a-payment options
Some personal loan lenders do offer skip-a-payment as a built-in feature or add-on. Lenders like SoFi, Earnin, and some credit unions allow you to skip one or two payments per year without penalty, though interest usually still accrues. These programs are designed for exactly the situation you are in—a temporary cash flow problem that you know will resolve.
If you are considering a LendingClub loan and payment flexibility matters to you, compare their terms to lenders that offer skip-a-payment as a standard feature. The interest rate and loan term matter most, but the ability to pause without damage to your credit can be worth a slightly higher rate if you know you face irregular income or seasonal hardship.
If you already have a LendingClub loan and are facing hardship, refinancing to a lender with skip-a-payment may be possible if your credit score has stayed strong. However, refinancing involves a new application and closing costs, so weigh whether the benefit of skip-a-payment outweighs the cost of refinancing.
Frequently Asked Questions
Can I skip a payment if I have a LendingClub personal loan?
LendingClub does not offer a formal skip-a-payment program. You can contact the company to discuss hardship options, but there is no automatic feature. Any arrangement is negotiated individually and not may provide.
What happens if I miss a payment by accident?
Contact LendingClub immediately. If you pay within 15 days of the due date, it may not be reported to credit bureaus, depending on LendingClub's policy. After 30 days late, it will appear on your credit report. Late fees apply once you are past the due date.
Will contacting LendingClub about hardship hurt my credit score?
Contacting customer service to discuss options does not hurt your score. Only a missed or late payment is reported to credit bureaus. Reaching out before you fall behind is the best way to protect your score.
Can I refinance my LendingClub loan to get skip-a-payment?
Yes, if your credit score is still strong. You can refinance with a lender that offers skip-a-payment as a feature. However, refinancing involves a new application, credit check, and closing costs, so compare the total cost against the benefit.
What if LendingClub refuses to work with me?
If the company declines to help, explore refinancing, a personal line of credit, or credit counseling through the NFCC. If your hardship is severe, a debt management plan may also be an option to discuss with a counselor.