LendingClub does not offer a formal skip-a-payment program, but you can request a temporary payment deferral or modification if you're facing hardship
LendingClub personal loans do not come with a built-in skip-a-payment feature like some credit cards or buy-now-pay-later services do. However, if you're struggling to make a scheduled payment, LendingClub does have a hardship program that may allow you to pause or reduce payments for a set period. The program is not automatic—you have to contact them and explain your situation—but it exists specifically for borrowers who hit a temporary cash flow problem.
The key difference: skipping a payment usually means you don't pay that month and the payment disappears. A deferral or modification means you don't pay now, but the payment gets added to the end of your loan or spread across remaining months. LendingClub's approach is closer to the second option. Interest continues to accrue during the deferral period, so you're not erasing the payment—you're moving it.
Key Takeaways
- LendingClub has a hardship program for borrowers facing temporary financial difficulty, but you must contact them to request it—there is no automatic skip option.
- A payment deferral typically pauses your payment for one to three months, but interest keeps accruing and the balance grows.
- You will need to provide documentation of your hardship (job loss, medical emergency, reduced income) to be considered for a deferral.
- Missing a payment without requesting a deferral first will damage your credit score and may trigger late fees.
- If you are denied a deferral or it does not solve your problem, refinancing with another lender or a debt consolidation loan may be your next option.
How to request a payment deferral from LendingClub
Contact LendingClub's customer service before your payment is due. You can reach them through your online account, by phone, or by mail. The sooner you reach out, the better—calling after you've already missed a payment puts you in a weaker position and may result in late fees that have already been added to your account.
When you contact them, explain your situation clearly: job loss, medical expense, reduced hours, or another concrete reason for the shortfall. LendingClub will ask you to document the hardship. This might mean a termination letter, a medical bill, a pay stub showing reduced hours, or a letter from your employer. They want proof that the problem is real and temporary, not permanent.
Once you submit your request, LendingClub will review it and either approve a deferral, offer a modified payment plan, or deny the request. There is no set timeline for this review, but most decisions come back within one to two weeks. If approved, you'll receive a written agreement showing the new payment schedule and how long the deferral lasts.
What happens to your loan during a deferral
Your payment is postponed, but the loan does not stop accruing interest. If you defer for two months, those two months of interest get added to your balance. Your loan term may also extend—if you were supposed to finish paying in 36 months, the deferral might push that to 38 months. You are not erasing the payment; you are moving it forward and paying more overall.
Your credit report will not show a missed payment if you have an approved deferral in place. However, if you miss a payment without requesting a deferral first, that missed payment will be reported to the credit bureaus and will damage your credit score. The difference between a proactive deferral request and a missed payment is significant for your credit history.
Alternatives if LendingClub denies your deferral request
If LendingClub denies a deferral or offers one that does not cover your full shortfall, you have other options. Some borrowers refinance their LendingClub loan with another lender that offers better terms or a longer repayment period, which lowers the monthly payment. Others consolidate multiple debts into a single loan with a lower monthly obligation.
If you are facing a very short-term cash crunch (one or two weeks), a small personal loan from a credit union, a payday alternative loan, or a cash advance from your employer might bridge the gap without affecting your LendingClub account. If the hardship is longer-term, you may need to explore whether you may have access to for any local information programs or whether a debt management plan through a nonprofit credit counselor makes sense.
What not to do if you cannot pay
Do not straightforward skip the payment and hope LendingClub does not notice. A missed payment will be reported to the credit bureaus after 30 days and will stay on your credit report for seven years. Late fees will also be added to your account, increasing what you owe. The longer you wait to contact LendingClub, the more damage occurs.
Do not assume that because you are a long-standing customer or have never missed a payment before, LendingClub will automatically work with you. The hardship program exists, but you have to ask for it. Silence is treated as a missed payment, not as a request for help.
How LendingClub's deferral compares to other lenders
| Lender | Skip or Deferral Option | Interest During Deferral | How to Request |
|---|---|---|---|
| LendingClub | Hardship deferral (1–3 months typical) | Yes, accrues | Contact customer service with documentation |
| Upstart | Hardship program available | Yes, accrues | Contact customer service |
| SoFi | Unemployment protection (no payment for up to 6 months) | No, does not accrue | Automatic if you file for unemployment |
| Credit card (typical) | Hardship program or skip option | Varies by card | Call issuer or request through app |
LendingClub's hardship program is fairly standard for personal loan lenders. The main difference between LendingClub and some competitors is that SoFi offers unemployment protection that pauses interest accrual if you lose your job, whereas LendingClub's deferral still accrues interest. If you have a SoFi loan and lose your job, that protection may be more valuable. For other types of hardship, most lenders operate similarly to LendingClub.
Frequently Asked Questions
Will requesting a deferral hurt my credit score?
An approved deferral will not hurt your credit score because it is not reported as a missed payment. However, the lender may do a hard inquiry on your credit when you explore for the deferral, which can lower your score by a few points. The benefit of avoiding a missed payment far outweighs this small temporary dip.
How long can I defer my LendingClub payment?
Most deferrals last one to three months, depending on your situation and LendingClub's assessment of your hardship. Some borrowers receive a single deferral; others may request a second one if the hardship continues. There is no published maximum, but LendingClub will not defer indefinitely—at some point, you will need to resume payments or explore other options.
What if I cannot afford the payment even after a deferral ends?
If the deferral period ends and you still cannot pay, contact LendingClub again before the payment is due. You may be able to request a second deferral, a modified payment plan that lowers the monthly amount, or a loan modification. If none of those work, you may need to explore refinancing or debt consolidation with another lender.
Can I request a deferral if I have already missed a payment?
Yes, but it is harder. If you have already missed a payment, late fees have been added and the missed payment has been reported. Requesting a deferral at this point may still help stop further damage, but the missed payment will remain on your credit report. It is always better to request a deferral before the payment is due.
Does LendingClub charge a fee to request a deferral?
LendingClub does not charge a separate fee to request or receive a hardship deferral. However, interest continues to accrue during the deferral period, which means you pay more overall. There are no hidden fees for the deferral itself.