What to do when a LendingPoint account holder dies

Contact LendingPoint's Member Services team at (888) 969-0959 or by email at customerservice@lendingpoint.com. LendingPoint services its personal loans and point-of-sale financing directly, so Member Services is the correct contact even when the loan was originally funded by a partner bank. LendingPoint does not publish a separate deceased-borrower phone line or estate page.

No. A personal loan and point-of-sale financing are debts, not assets, so there is no payable-on-death, transfer-on-death, or beneficiary designation. When the borrower dies, the obligation becomes part of the estate, which resolves it by paying the balance from estate assets.

A LendingPoint personal loan is unsecured and belongs to the estate, not to surviving family members individually. Unless a person co-signed or was a joint borrower on the loan, they are generally not personally responsible for the balance; it is paid from estate assets through the creditor-claim process. Consult a licensed attorney for questions about a specific estate.

Have the deceased borrower's account number and a copy of the death certificate ready when you contact Member Services. To establish authority over the estate, LendingPoint may ask for Letters of Testamentary or Letters of Administration (certified court-issued documents appointing the executor or administrator), or a small estate affidavit where the estate qualifies under the state's dollar limit.

Request the exact payoff amount from Member Services at (888) 969-0959 or customerservice@lendingpoint.com, then confirm where to send payment. LendingPoint accepts money orders, cashier's checks, and certified checks made payable to LendingPoint at a payment address it provides on request; it asks that payments not be sent to its Kennesaw headquarters to avoid posting delays. The estate pays the balance according to your state's creditor-claim priority.

LendingPoint does not publish a policy that forgives a loan on death. Whether any part of the balance is cancelled depends on the loan agreement and on any optional payment-protection or debt-cancellation product the borrower may have purchased. Absent such a product, the balance remains due and is settled by the estate.