JammingJay I think pointed out a 4+ late loan that Prosper collected a 17% collections payment for itself, so if they can collect 17% on the entire principal balance paid, this will provide them with a huge amount of revenue.
Prosper 2.0 or 3.0 or future versions are unsustainable business models if the incentives are such that Prosper (or its business partners like AmSher and CPS) make profits when lenders lose their shirts.
Yes it
is was this loan.
http://www.prosper.com/invest/listing.aspx?listingID=130718Last payment Mar. 4th. He was making double payments until the loan went "charge off" I don't understand this because the 4 months he made payments every two weeks should have brought him almost current.
He made more payments afterward, I was hit with a collection fee on these.
I'd like to thank Prosper but now I don't know how. You see with the new prosper the records are gone.
Yup gone. I just looked, under 2.0 the only fee is when he went <1 late 09/07! The fee fields are now" - ".
Thanks prosper, I see you are getting desperate enough to buy your way into hell with nickels.