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[112233]

Finally, a non-answer has arrived:


Thank you for your e-mail regarding your credit bureau reporting. Please allow a week for this information to process and show up on your report.  We apologize for any inconvenience this may have caused.


For future reference, your Prosper support case number is 00394329.

Sincerely,
Prosper Customer Support

to be fair, this thread was not sent to the lobby right away so prosper didnt have a lot of time to discover the problem

[misssalaska2000]

I disputed my positive prosper tradeline to see what would happen.  (The open one, not the closed one.)

I'll let you know if I hear of anything.

[cowdog]

This is really messing up borrowers though... if I saw a CR that showed a missed or late payment and then no further reporting after that, I would assume the account is a dq. I might assume the company went out of business right after reporting non-payment, so the deadbeat got away with it.

Even an account that shows paid, if the lender hasn't been reporting every month, I will assume has a problem. At the least, a borrower shouldn't be dealing with a slimy company that only reports every few months. Every one of my loans, credit cards, and other obligations report EVERY SINGLE MONTH. In fact, last time I had a change of address, all my creditors knew it before I even contacted them... I reported the change to one lender (Citibank) who put it into my CR, and within TWO DAYS I was getting notices from other companies wanting to either verify my address, or with instructions on how to access my account and provide an address correction.

[Cushie]

Finally, a non-answer has arrived:


Thank you for your e-mail regarding your credit bureau reporting. Please allow a week for this information to process and show up on your report.  We apologize for any inconvenience this may have caused.


For future reference, your Prosper support case number is 00394329.

Sincerely,
Prosper Customer Support

Well, shoot, do we all need to email so ours update in a week?  And how far are they updating - to October or Jan/Feb?

This issue ticks me off in more ways than I can count.

[God-Father]

Finally, a non-answer has arrived:


Thank you for your e-mail regarding your credit bureau reporting. Please allow a week for this information to process and show up on your report.  We apologize for any inconvenience this may have caused.


For future reference, your Prosper support case number is 00394329.

Sincerely,
Prosper Customer Support

Well, shoot, do we all need to email so ours update in a week?  And how far are they updating - to October or Jan/Feb?

This issue ticks me off in more ways than I can count.

[christoofar215]

Update:


Prosper has sent an update to Experian.   If you go in the EX backdoor you should now see your updated information.


Two of my credit reports (EX and EQ) are now finally showing my total debt as $0.00.    TU hasn't updated yet.  Maybe Monday it will process.

[Xenon481]

Yet another case where if it wasn't for .org, Prosper would continue to screw its customers with no checks nor balances.

[baeventures]

My Transunion report updated but only from 9/2009 to 10/2009. Can't pull other reports for a bit yet...

BAEVentures

[misssalaska2000]

Worth mentioning that Prosper hasn't updated my credit report for almost 10 months:  (This is from today, 8/15/10, btw)...

[christoofar215]

Worth mentioning that Prosper hasn't updated my credit report for almost 10 months:  (This is from today, 8/15/10, btw)...

It's time to complain to Prosper support again.

And probably start a nasty blog post.   Prosper seems more motivated to update the credit reports when someone writes something nasty on them on a Google-able site.

Why do they keep falling behind on this?   They have to scan all the accounts, build a file, and then secure FTP it to the 2 CRAs they report to.   It's not rocket science, and every lender seems capable of doing it.   Why can't Prosper?    It's not like Prosper has millions of accounts to update.

[christoofar215]

I hate to say this, but if Prosper has such a big problem with just updating CRs, can you imagine how many people are getting Prosper tradelines deleted off their reports with just a simple online dispute?

The CRAs have to delete a tradeline in 45 days if the data furnisher does not respond.   Anybody with a defaulted Prosper note could probably get a nice FICO jump by disputing them off.

Some companies will do a re-insertions if they discover a valid account is missing, but that costs money to reinsert a T/L on a credit report.  Prosper wouldn't be willing to pay that fee.

[112233]

misssalaska2000 , I noticed you paid off your loan a few weeks ago. It really sucks that you have this large balance still on your credit report.

9 months? really? nobody over there noticed anything or received any complaints in 9 months?

[Xenon481]

How much do you want to bet that Prosper doesn't even respond to debt validation requests?

[christoofar215]

How much do you want to bet that Prosper doesn't even respond to debt validation requests?

It doesn't really matter because Prosper is the original creditor.  DV's only matter to debt collector companies and junk debt buyers who have to prove assignment when they sue you (and you fight it), and that the amount owed is correct and justified under your state's laws.  DV'ing an original creditor is kind of pointless because they'll just repeat what they told you last time---you owe this much.

Plus if you have an arb clause in your contract that makes your almost totally powerless, even if your complaint is that the amount is wrong.  You'd have to take it to arbitration, prove the amount is wrong, and when the arb sides with the original creditor >90% of the time you'd need to also disagree with the outcome and continue fighting all on your own dime.   It will cost way more than whatever it was you were disputing.

If the original creditor is the one pursuing, a lot of the FDCPA law doesn't really apply to them since it's not an assigned debt.   The only things that really matter are the phone-call provisions on what times to call and harass the borrower and making contact at the borrower's workplace, and 3rd party calls.


If the original account is due to fraud/ID theft then it's different.  You'd need to file a police report and then you can bypass arbitration and sue the original creditor directly because your claim is that under the account the original creditor has, you're not bound by that contract or terms because you never entered an agreement to begin with and the account is fraud.   Very few borrowers can make that claim to begin with.

[Xenon481]

How much do you want to bet that Prosper doesn't even respond to debt validation requests?

It doesn't really matter because Prosper is the original creditor.  DV's only matter to debt collector companies and junk debt buyers who have to prove assignment when they sue you (and you fight it), and that the amount owed is correct and justified under your state's laws.  DV'ing an original creditor is kind of pointless because they'll just repeat what they told you last time---you owe this much.

Plus if you have an arb clause in your contract that makes your almost totally powerless, even if your complaint is that the amount is wrong.  You'd have to take it to arbitration, prove the amount is wrong, and when the arb sides with the original creditor >90% of the time you'd need to also disagree with the outcome and continue fighting all on your own dime.   It will cost way more than whatever it was you were disputing.

If the original creditor is the one pursuing, a lot of the FDCPA law doesn't really apply to them since it's not an assigned debt.   The only things that really matter are the phone-call provisions on what times to call and harass the borrower and making contact at the borrower's workplace, and 3rd party calls.


If the original account is due to fraud/ID theft then it's different.  You'd need to file a police report and then you can bypass arbitration and sue the original creditor directly because your claim is that under the account the original creditor has, you're not bound by that contract or terms because you never entered an agreement to begin with and the account is fraud.   Very few borrowers can make that claim to begin with.

I'm probably using the wrong terminology. I meant, not responding to the CRAs (saying the debt really is valid) when a late borrower tries to get the DQ off their CR.