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[xraider]

I looked at my account last night and see that Prosper is no longer accurately reporting the status of my loans.  Two of my four "lates" are really more than a month late now.  One, World Series Pitcher, shows that he is less than 15 days late AND in collections.  However, he made two partial payments so really IS more than 30 days late.

A second is more than 30 days late (more than 45 now, in fact) yet shows between 1 and 30.

I sent the following to Prosper this morning:

Something seems to have happened to your computer programming!

Note 16437 says it's between 1 and 15 days late and in collections.  However, that 's more than a month late because the guy made two 1/2 payments.

Note 13248 says it's less than 30 days late when it's well more than a month late.

Please fix these.  I know collections are totally ineffective but I really would appreciate it if it my account were reported correctly. 

I would appreciate an update and an explanation.

Thank you.

I guess the best way to improve results is to stop reporting them?  If they're not reported accurately internally, the results will be inaccurate and so will Erics.  And, of course, Fred's charts will flatten out.

Anyone else having this problem?

[pioneer11]

I have a <15 in BK.

[onthefence]

Lobby.

[Xenon481]

I believe they calculate it by how much is outstanding late.  If it has been 45 days since the borrower became late, but they have made partial payments enough so that they still have a month or less of payments outstanding, then Prosper doesn't count it as 1-Month late.

[xraider]

Xenon, you may be right but why would it show >15 AND in collections???

[yankeefan]

Xenon, you may be right but why would it show >15 AND in collections???

I don't know if your loan fits the bill, but a loan that goes to collectrions stays there until it gets current, even if it's only a day late and a dollar short.

[Xenon481]

Xenon, you may be right but why would it show >15 AND in collections???

Because once an account goes into collections, it stays in collections until it is completely current.

I've had borrowers in collections make payments manually through the Prosper system (not going through collections) while just in regular old "Late" status (because they've made partial payments that got them back down) that had collections fees taken out.

[Cushie]

Lobby.

Seconded.

[Capital_Finance_Group]

I've notice the same thing with my account too - perhaps Prosper 3.0 needs some more upgrading.

[mothandrust]

Note 13248 says it's less than 30 days late when it's well more than a month late.

Please fix these.

Be careful what you wish for.

Some of us have had loans that were paying but were 4 months late placed in charged-off status, at which point most of them stopped paying anymore.

I would have liked it if one of those paying 4 month lates was being catalogued as a 2 month late, then it would not be charged off and would likely continue to pay.

[Pioneer]

Note 13248 says it's less than 30 days late when it's well more than a month late.

Please fix these.

Be careful what you wish for.

Some of us have had loans that were paying but were 4 months late placed in charged-off status, at which point most of them stopped paying anymore.

I would have liked it if one of those paying 4 month lates was being catalogued as a 2 month late, then it would not be charged off and would likely continue to pay.

I had a loan who was making payments late but never more than 2 months late.  She'd skip a month and then make two payments or maybe one payment, but was never shown as anything but 2 months late.  Propser sent it to collections and it has been charged off.  Now the loan is not paying at all.