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[Navy-slush-fund]

I had two messages from Prosper this morning regarding loans they had charged off, while I was reading those, two more messages came with additional charge offs.....Im glad,  these type of actions should reduce or eliminate income taxes on my false profits .....

[Navy-slush-fund]

Prosper is going at it, just got two more....

[beerbud1]

I got six e-mails over nite concerning charge-offs

[NewHorizon]

I got 12 Prosper charge-off messages - all with the same time stamp: 1:30am PT.

They have yet to hit my Email (gmail).

ETA: Either I mis-counted, or another just showed up - but still with the 1:30am time stamp.

ETA: OK, I'm not imagining things:  I have 17 charge-off messages now - all time-stamped 1:30am.  None yet hit my Email.  Maybe my Email preferences are blocking them.  But then, I'm getting the one-of-your-loans-is-paid-off messages.  Don't feel like trying to research this now...

ETA: OK, checked my Prosper preferences - I should have been getting charge-off notifications in Email too.  /shrugs

[Oak_Hill_Fire]

I still haven't gotten any messages or emails despite having 10 4+ month lates.  :'(

[112233]

I got one

Dear xxxx,

One of your Prosper loans has gone more than 4 months late, and is therefore charged-off. Once a loan is charged-off, it cannot become current again.

Unless the borrower has filed bankruptcy, Prosper will continue to collect on charge-off loans until the loans are packaged and sold to a debt buyer. Any recovery of the loan before sale will be credited to the lenders' accounts as a recovery payment.

Loan: FAST FOOD DRIV-THRU (Loan #8334)
Charge-off date: Oct-28-2008
Charge-off balance: $40.31
View loan details

Borrowers whose Prosper loans are charged-off will have their delinquency reported to a credit reporting agency, and will never be able to borrow money on Prosper again in the future. Learn more about charge-offs.

Regards,
Prosper

[big-al]

I don't see what's changed other than the new 'charge-off' designation beside them.  The full principal and accrued interest are still being included in the value of loans.

[beerbud1]

I got six e-mails over nite concerning charge-offs

Ugh I just went back to check the balances after reading other folks comments and I now have a total of 56 charge offs since yesterday... :'( :'( :'(

[beerbud1]

I nominate this thread for the lobby.

[arebelspy]

Second the lobby nomination.

I've gotten 43 chargeoff emails so far, with more coming in.

Two comments:
1) Does anyone doubt this has to do with the SEC stuff?
2) How much $$ would I have gotten for these loans had Prosper lived up to their own legal agreement and sold them at the last debt sale where they rejected all offers?  (Even $0.03 on the dollar would have been great.)

[112233]

Prosper will continue to collect on charge-off loans

is there any evidence of this?

[xraider]

I have 4 chargeoffs.  The email says Prosper will still try to collect on these loans, and will ultimately sell them to a junk debt buyer.  When I went to look at my account 3 of the 4 say they're in collections.

I guess this is something for the remaining Prosper staff to do while waiting for the shutdown?  (sheer speculation on my part.)

[yankeefan]

43 Charge offs-  balances removed from "loan value",

[beerbud1]

My 4+'s are now only bankruptcies and are now down to 8 loans

[Mtnchick]

47 so far.