|
bamalucky
|
 |
« Reply #15 on: May 21, 2009, 09:09:50 pm » |
|
Hey what a great idea..When will this be starting? Although you are registering as a lender, you may also register and participate in the Prosper marketplace as a borrower. If you obtain one or more borrower loans through the platform, amounts in your Prosper funding account are subject to set-off against any delinquent amounts owing on your loans. |
|
|
|
|
Logged
|
There are no stupid questions, just stupid people.
|
|
|
|
bamalucky
|
|
« Reply #16 on: May 21, 2009, 09:12:21 pm » |
|
Oh my.. Prohibited Activities. You agree that you will not do the following, in connection with any listings, bids, Notes, borrower loans or other transactions involving or potentially involving Prosper:. Include or display any personally identifying information, including, without limitation, name, address, phone number, email address, Social Security number or driver's license number, or bank account or credit card numbers of any Prosper member on your Prosper member web page, or elsewhere on or off of the Prosper website, including but not limited to on any forum, blog or website |
|
|
|
|
Logged
|
There are no stupid questions, just stupid people.
|
|
|
|
bankomatic
|
|
« Reply #17 on: May 21, 2009, 09:18:42 pm » |
|
Oh my.. Prohibited Activities. You agree that you will not do the following, in connection with any listings, bids, Notes, borrower loans or other transactions involving or potentially involving Prosper:. Include or display any personally identifying information, including, without limitation, name, address, phone number, email address, Social Security number or driver's license number, or bank account or credit card numbers of any Prosper member on your Prosper member web page, or elsewhere on or off of the Prosper website, including but not limited to on any forum, blog or website RULES OF PROSPER: 1st RULE: You do not talk about PROSPER. 2nd RULE: You DO NOT talk about PROSPER. |
|
|
|
|
Logged
|
|
|
|
|
pioneer11
|
|
« Reply #18 on: May 21, 2009, 09:22:22 pm » |
|
3rd Rule You do not talk about Prosper Borrowers
|
|
|
|
|
Logged
|
I don't think agent has dealt with very many collectors. They are the most crooked bunch of liars you will ever run into. You pay this one, and another one is likely to show up, with the same debt.
They will clean out your brother's account - they don't care whose it is - that's the problem. These people are crooks and liars. They are parasites on society.
I am blogging again |
|
|
|
Staneslav
|
|
« Reply #19 on: May 21, 2009, 09:38:14 pm » |
|
Prosper is not acting as your agent or fiduciary
Understatement of the year. |
|
|
|
|
Logged
|
I apologize for nothing and I'm sorry for less.
|
|
|
|
ira01
|
|
« Reply #20 on: May 21, 2009, 09:46:17 pm » |
|
Hey what a great idea..When will this be starting? Although you are registering as a lender, you may also register and participate in the Prosper marketplace as a borrower. If you obtain one or more borrower loans through the platform, amounts in your Prosper funding account are subject to set-off against any delinquent amounts owing on your loans. Wow -- only two years plus after lenders were expressly promised in writing that would happen.  |
|
|
|
|
Logged
|
|
|
|
|
onthefence
|
|
« Reply #21 on: May 22, 2009, 02:00:23 am » |
|
Prosper is not acting as your agent or fiduciary
That screws the pooch right there. Prosper is specifically stating that they will not work in the lender's best financial interest when it comes to addressing loans or payoffs. Also of interest, in all of the methods they have stated that they will modify loans, the one they will not do is to reduce the size of payments by lengthening the duration of the loan. |
|
|
|
|
Logged
|
 Lobby permission granted |
|
|
|
nonattender
|
|
« Reply #22 on: May 22, 2009, 09:54:42 am » |
|
Also of interest, in all of the methods they have stated that they will modify loans, the one they will not do is to reduce the size of payments by lengthening the duration of the loan.
Good catch - they should definitely add that in, as it's another good tool to use to get a lender paid. For the rest of you complaining about this - well, jesus - having the ability to negotiate settlement is something every single credit card company and collection agency have the power to do - for a good reason... something is ALWAYS better than nothing. (No cheers that setoff is finally included? sigh) (I do still think, in general, it's not a good idea to tie the loans, so explicitly, to just the one platform) -t |
|
|
|
|
Logged
|
|
|
|
|
xraider
|
|
« Reply #23 on: May 22, 2009, 10:55:27 am » |
|
NA, I agree that it's better to get paid than not, but Prosper's performance on the defaults, and the collection agencies, and the NAT lawsuits, has hardly inspired confidence or trust in Prosper doing the right thing for lenders.
|
|
|
|
|
Logged
|
Prosper missed me. They lifted my suspension a day early.
|
|
|
|
bankomatic
|
|
« Reply #24 on: May 22, 2009, 11:02:44 am » |
|
Also of interest, in all of the methods they have stated that they will modify loans, the one they will not do is to reduce the size of payments by lengthening the duration of the loan.
Good catch - they should definitely add that in, as it's another good tool to use to get a lender paid. For the rest of you complaining about this - well, jesus - having the ability to negotiate settlement is something every single credit card company and collection agency have the power to do - for a good reason... something is ALWAYS better than nothing. (No cheers that setoff is finally included? sigh) (I do still think, in general, it's not a good idea to tie the loans, so explicitly, to just the one platform) -t The bottom line is that the lenders and the borrower had an agreement, now some 3rd party comes in and starts negotiating with the borrower and doesn't even ask the lenders what they think of the new terms? That sounds like a hell of a shitty deal for lenders. |
|
|
|
|
Logged
|
|
|
|
|
xraider
|
|
« Reply #25 on: May 22, 2009, 11:40:43 am » |
|
But but but Prosper CARES about the lenders, and goes to great lengths to protect our interests.
|
|
|
|
|
Logged
|
Prosper missed me. They lifted my suspension a day early.
|
|
|
|
Beerbud1
|
|
« Reply #26 on: May 22, 2009, 11:44:55 am » |
|
|
|
|
|
|
Logged
|
"Keep your thoughts positive because your thoughts become your words.
Keep your words positive because you words become your behavior.
Keep your behavior positive because your behavior becomes your habits.
Keep your habits positive because your habits become your values.
Keep your values positive because your values become your destiny."
-Gandhi
|
|
|
|
ira01
|
|
« Reply #27 on: May 22, 2009, 11:54:01 am » |
|
NA, I agree that it's better to get paid than not, but Prosper's performance on the defaults, and the collection agencies, and the NAT lawsuits, has hardly inspired confidence or trust in Prosper doing the right thing for lenders. Exactly. I remember this idea being discussed here more than a year ago, and as I said then, Prosper is far too incompetent and unethical to allow it to exercise discretion regarding loan modifications. Don't forget, it isn't Prosper's money at stake. So what does Prosper care if it writes down the interest rate to 0%, or the principal down to 10% of what it was? The slight decrease in servicing fee is largely irrelevant. If Prosper were required to hold a significant portion of each loan -- perhaps 25% -- then at least Prosper's interests would be more alligned with those of the lenders. But it doesn't, and they aren't. |
|
|
|
|
Logged
|
|
|
|
|
JammingJAY
|
|
« Reply #28 on: May 22, 2009, 06:14:44 pm » |
|
Huh? The referral of a delinquent borrower loan to a collection agency on the 31st day of its delinquency shall be deemed to constitute commercially reasonable servicing and collection efforts. Prosper and any loan seller or third-party servicer servicing a borrower loan shall have the right, without your consent, at any time and from time to time and subject to the foregoing servicing standard, to change the payment date or reduce the principal amount or the rate of interest or the place and manner of making loan payments on a borrower loan, or amend or waive any other term of such borrower loan, or charge off any borrower loan that Prosper or the loan seller or third-party servicer servicing the borrower loan deems uncollectible. I like the honesty, finally. Anybody who thinks Prosper will do anything more, well your a crack team sockpuppet or too stupid to "invest" your inheritance. |
|
|
|
|
Logged
|
I am now NoPay-Jay on Prosper
"Those who won't fill your pocket will fill your ears". Warren Buffet.
|
|
|
|
okie
|
|
« Reply #29 on: May 22, 2009, 09:10:54 pm » |
|
Credit card companies and banks are allowed to alter the terms of their loans because they are THE LENDER.
Prosper will not be the lender on any of these loans, and should not have the power to change any terms or negotiate any settlement without THE LENDER'S authorization. Any lender signing anything giving this power to Prosper is a fool.
|
|
|
|
|
Logged
|
|
|
|
|
