When you first sign your contract with Lendtable, there are a few requirements we ask each customer to meet while using our service. These requirements are set to ensure you are getting the most value from our service, as well as maintaining the best circumstances for an easy repayment process in the future.
While using Lendtable, please ensure you are doing the following:
-Setting your 401(k)/ESPP contribution to the correct percentage to maximize your employer match.
When you sign your contract, you are asked to set your contributions to the maximum percentage your employer will match you at. Please ensure this amount is maintained for the duration of your service, and please do not decrease your contribution lower than the required amount. If we detect a contribution change lower than what is required, your payouts will be paused.
-Abstaining from taking out a 401(k) loan / Withdrawing funds from your 401(k) account.
While you are using Lendtable's service, we ask that you do not make withdraws from your 401(k) account, or take out a loan against your 401(k). This is to ensure that your 401(k) balance continues to grow at the projected rate while you are working with Lendtable. We understand that financial situations are always changing, so if you find yourself needing to make a withdraw for any reason, please contact our support team as soon as possible and we'll be glad to assist you further.
-Repaying your Lendtable Balance.
Your Lendtable balance becomes due when one of the following events occur: when you retire, when you leave your employer, or when you cancel your Lendtable service. After any one of these events, your full Lendtable balance will become due, and payable through your account under the "repayment" tab. You can use a debit/credit card, 401(k) withdraw, or a 401(k) loan if eligible to repay your balance.
If you need further support with your repayment, please contact our support team through chat or scheduling a phone call as soon as possible. From here, we can assist you directly with completing your repayment, or creating a payment plan that works best for your circumstances.
These are all the requirements Lendtable asks of our customers while using our service. Financial situations can change very quickly, and in these cases, we’re more than happy to speak with you directly for further assistance. If something arises that makes it difficult to meet any of these requirements, please reach out to our team as soon as possible and we’ll be glad to support you as best we can.
Please sign in to leave a comment.