My Summary of Prosper's Problems

[BrassKnuckles]

poof

[Rich_Lather]

I was assigned a handler after lending on my first loan. I've not had any problems communicating with the handler via email, and I email quite a bit.

Your bitching would be more justified if the interest rates on your defaults were low, but they aren't. Your defaults have 3 things in common: high rates, high principle, and low credit rating. I wonder how they would stack up using the bid analysis currently in place.

I'm not saying .com doesn't have its problems. I see the Scientology-like defense of the corporate line to be a major strike against it, along with the rosier than reality return calculation. On the other hand, loan sharking is not exactly a high-brow profession historically.

[LoanChimp]

On the other hand, loan sharking is not exactly a high-brow profession historically.

I guess one could say Loan Chimping is a pronounced brow profession... 

[The_Cat]

You may want to converse with a certain rabbit here before you decide tricks aren't for kids.

I was assigned a handler after lending on my first loan. I've not had any problems communicating with the handler via email, and I email quite a bit.

Your bitching would be more justified if the interest rates on your defaults were low, but they aren't. Your defaults have 3 things in common: high rates, high principle, and low credit rating. I wonder how they would stack up using the bid analysis currently in place.

I'm not saying .com doesn't have its problems. I see the Scientology-like defense of the corporate line to be a major strike against it, along with the rosier than reality return calculation. On the other hand, loan sharking is not exactly a high-brow profession historically.

[ira01]

Your bitching would be more justified if the interest rates on your defaults were low, but they aren't. Your defaults have 3 things in common: high rates, high principle, and low credit rating. I wonder how they would stack up using the bid analysis currently in place.

I'm not sure if you are talking to me (the OP), but if you are, your statements contain numerous errors.  First, I'm not "bitching" about my portfolio -- as I note at the beginning, my projected ROI is ok (currently 7.68%).  I am complaining about Prosper's incompetent and unethical behavior.  Second, I don't have any defaults (yet).  Third, if you used "defaults" to refer to my lates, one of five was for $15K, and another was for less than $18K -- those aren't really that high for principal.  More importantly, my lates are 1 B, 3 C's, and 1 D -- certainly not a common "low credit rating."  Indeed, my 2 E's and 3 HR's are all current.  And my most maddening late is the B -- a clear case of fraud (B rated borrower with 14% DTI who took $24K and never even made the first payment).  Nor are all of my lates at high interest rates -- the D is at 20%, which is certainly not "high," and one of the C's is at 17%.

[ira01]

I think it is worthwhile keeping this thread on the first page of the Lobby, so newcomers can find it.  So . . . Bump!

[joezyz]

If you're writing for the Internet, you want to learn how to write an executive summary and then present the details that no one will read.  Sample.

1)  The default rate on Prosper is close to 20%.No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

2)  Prosper can't collect from deadbeat borrowers.No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

3)  Prosper suffers from identity theft and fraud, enabled by Internet anonymity.No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

4)  Prosper routinely fails legitimate customers through incompetance.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

5)  Prosper is fraudulent in its advertising.No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  You should really buy patio11 a cup of cocoa.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  And send him your life savings.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

6)  Prosper destroyed their own community and alienated their truest supporters.No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

7)  Prosper may not survive long enough for loans to be repaid.No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this.  No one is reading this. 

I also eliminated several of your points which were "inside baseball".  Nobody who is not on Prosper cares about MNH errors which have already been fixed.  Concentrate on what will most certainly be hitting them if they register.  And control for length -- the eyes glaze over, where a punchy, bullet pointed presentation would be more effective.

Damn It Patio,  I just spent 20 minutes reading all the "no one is reading this" details.
 

[Potter]

I was assigned a handler after lending on my first loan. I've not had any problems communicating with the handler via email, and I email quite a bit.

Could you explain more about this 'handler'? Who assigned it/them?

Potter

[ira01]

Bump.

[ira01]

Bump.

Time for another bump.

[nonattender]

Sometimes a particular topic not attracting any response is NOT a function of its perfection in stating all that there is to say on that topic.
This is one of those times.  No more bumps please.  Aside from being in poor taste, it, as may appeal to your reason, sets a bad precedent.

-t

[112233]

yes, but visiblity may be a function of response

.. more later about this, say in a month or so 

[ira01]

Sometimes a particular topic not attracting any response is NOT a function of its perfection in stating all that there is to say on that topic.
This is one of those times.  No more bumps please.  Aside from being in poor taste, it, as may appeal to your reason, sets a bad precedent.

Sorry, but I completely disagree.  Normally, I am not a "bumper."  In fact, this may be the only thread here that I have ever bumped.  But I strongly believe this thread belongs on the first page or two, and I intend to continue occasionally bumping it.  The lack of responses has nothing to do with its value; after all, there have been 1,226 views -- making it the sixth most read thread on the first seven pages of the Lobby.  The lack of responses is because this thread wasn't intended to generate responses.  It was intended to be a relatively concise overview of a littany of Prosper issues, to serve as a primer for new lenders that discover the Lobby. 

[nonattender]

Sometimes a particular topic not attracting any response is NOT a function of its perfection in stating all that there is to say on that topic.
This is one of those times.  No more bumps please.  Aside from being in poor taste, it, as may appeal to your reason, sets a bad precedent.

Sorry, but I completely disagree.

I am shocked and dismayed.

Normally, I am not a "bumper."  In fact, this may be the only thread here that I have ever bumped.

Is this an affirmative defense?  "Normally, I am not a speeder.  In fact, this may be the only time I have ever broken the speed limit."
"Normally, I am not a judge.  In fact, this may be the only time I have ever passed judgment.  Please pay the clerk on your way out."

But I strongly believe this thread belongs on the first page or two, and I intend to continue occasionally bumping it.

In the same way that some mothers believe their children should always go first, and become "room mothers" to make it so.

The lack of responses has nothing to do with its value;

Once again, the lack of response to your book report may not be due to your having stupefied the audience with your genius.

A standard of "lack of response having nothing to do with value" is like saying "I know I am right because they're ignoring me".
("How's the marketing campaign, Johnson?"  "It's going quite well, sir.  We haven't sold a thing, but everyone knows about us!")

after all, there have been 1,226 views -- making it the sixth most read thread on the first seven pages of the Lobby.

The Bible is the world's best-selling book - yet Christian charity remains in short supply?  Perhaps it is easier to bump and thump.

The lack of responses is because this thread wasn't intended to generate responses.  It was intended to be a relatively concise overview of a littany of Prosper issues, to serve as a primer for new lenders that discover the Lobby.

Sounds like you've not discovered the Wiki.  It's featured on the Prospers.org homepage, more prominently than the discussion forums.

-t

[Xenon481]

Sometimes a particular topic not attracting any response is NOT a function of its perfection in stating all that there is to say on that topic.
This is one of those times.  No more bumps please.  Aside from being in poor taste, it, as may appeal to your reason, sets a bad precedent.

-1

If bumps are really that bad, let the moderators handle it.  Putting this discussion in the public arena instead of in PMs is petty and openly hostile.