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Your point is valid, but LendingClub’s numbers are bullshit. People keep quoting that press release like it’s science.
LendingClub’s business is in person to person loans (they act as a middle man between the investors and borrowers). Person to person loans are risky because the kind of people taking them out tend to be desperate and have no money, so unless everything goes right, they end up defaulting on the loan.
LendingClub puts out this bullshit article inflating the number of people “living check to check” to try and make it seem like their person to person loans are less risky. They want you to think you’re lending money to people with a 6 figure income could just sell one of their Teslas to pay you back, not people who took out the loan because their 1991 Chevy Corsica needed repairs and without it they can’t get to their job at Burger King.
They're not the only source. If you want to equivocate, cool, but your experience isn't everyone else's.
Sorry, LendingTree and LendingClub are two companies in the same business selling the same narrative. Their names are as similar as their business models, so it’s easy to get them confused.
I don’t think if somebody posted links to articles from McDonalds and Burger King talking about the health benefits of eating more French fries, you’d consider them more credible for having two different sources.