Sep 20, 2018 04:49 PM
1329 Views
Lendbox is worst P2p platform.Initially they give you all sort of assurances but once you lend money then its better you forget your money and this platform(Lendbox) and start thinking of your future in other platform(roadside) if you still get addicted and continue investing here.
LendBox gives recovery assitance but to the best of my experience is that they just sit in office and try calling the defaulted borrower and finally update the comments as "Number does not exist".Fact is Lendbox doesnt initiate any recovery as its a loss for the company.
Compared to other p2p sites I have seen Lendbox having greater default rate as the borrower profiles are not validated as per the standard protocol and if they reject any borrower profile its a loss for them as they lose the processing fee.
I had come accross a borrower profile which was rejected by other p2p lending platform(Lendenclub) but the profile was accepted by Lendbox and to no surprise the borrower defaulted and there were no signs of recovery since the details furnished was not verified by Lendbox.
And to speak about the support team of Lendbox, If you call them once and raise the issue you will get the response as "we are trying". The day you ask whats the effort they have put in recovery the next moment your number is blacklisted(Never answered)
About the website, it is outdated website where you still have to depend on your computer excelsheet to keep track of investments since you cannot find history here and even you have to do your calculations outside this site as there is very minimal info ab
So investors kind advise, there are lot other ways you can think of making profits or may be other better p2p platforms where these losses can be avoided as they have different strategies to overcome these defaults . But LendBox I would say a big no for investing.
