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Author Topic: Amsher out?  (Read 20188 times)

TotoMMB

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Amsher out?
« on: February 17, 2010, 01:03:59 pm »
Quote
This loan has become delinquent and the Prosper In-House Post-charge-off Collections collection agency is attempting to recover unpaid balances....

Quote
0% of recovered funds will be paid to the agency as the service fee for their efforts.

I have a 3.0 loan now 30+ days late. (Made one payment, thanks future deadbeat). But I noticed the above verbiage. Is Amsher no more? Is Prosper doing more testing (some loans going to Amsher, some staying in-house)?

I'm not expecting any different results, but I just thought it interesting...
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DCS

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Re: Amsher out?
« Reply #1 on: February 17, 2010, 01:25:07 pm »
I currently have four loans in collections, all assigned to Amsher.  Maybe they're experimenting with doing some in-house?
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pioneer11

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Re: Amsher out?
« Reply #2 on: February 17, 2010, 01:40:54 pm »
My late shows Amsher getting 17% (of nothing, of course).  They sucketh mightily.
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TotoMMB

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Re: Amsher out?
« Reply #3 on: February 17, 2010, 01:43:45 pm »
I have two current lates, one about 20 months old, the other 2 months old. The older of the two has been assigned to Amsher. But the newer one is apparently in-house.

Big sigh of relief, I won't have to give anyone 17% of $0.
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brianguy

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Re: Amsher out?
« Reply #4 on: February 17, 2010, 01:57:03 pm »
I've donated a few cents to them here or there, but really nothing very substantial (not that they deserve anything substantial).

they definitely suck and I didn't really want much to do with them from the time I was bidding, knowing their success rate seemed precariously low already.   the problem is, most lenders had them as their Default at the time and either didn't think much or bother to change it, or even know how.  this I found greatly unfortunate, and made a thread on the Prosper forum about it.
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God-Father

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Re: Amsher out?
« Reply #5 on: February 17, 2010, 02:05:53 pm »
I have two 1 month late loans.

I have one that has been turned over to Firstsource

Quote
This loan has become delinquent and the Firstsource, LLC collection agency is attempting to recover unpaid balances. They have collected $0.00 after 2 weeks. 15% of recovered funds will be paid to the agency as the service fee for their efforts.


One has been turned over to Amsher

Quote
This loan has become delinquent and the AmSher collection agency is attempting to recover unpaid balances. They have collected $7.50 after 1 week 3 days. 17% of recovered funds will be paid to the agency as the service fee for their efforts.
 


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brianguy

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Re: Amsher out?
« Reply #6 on: February 17, 2010, 02:14:13 pm »
my 1 month late right now is some guy completely oblivious of the fact that if you keep making manual half payments every month, you'll eventually default.   another Amsher loan.

but hey a little is better than none at all, I figure.  and no 17% gouged out of my cut.
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xraider

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Re: Amsher out?
« Reply #7 on: February 17, 2010, 02:44:51 pm »
I have 2 loans that are between 1 and 4 months late, and AmSher is on both of them.

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cowdiddly

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Re: Amsher out?
« Reply #8 on: February 17, 2010, 04:13:53 pm »
Quote from: TotoMMB on February 17, 2010, 01:43:45 pm


Big sigh of relief, I won't have to give anyone 17% of $0.
     good one :D
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onthefence

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Re: Amsher out?
« Reply #9 on: February 17, 2010, 04:21:33 pm »
Quote from: TotoMMB on February 17, 2010, 01:03:59 pm
I have a 3.0 loan now 30+ days late. (Made one payment, thanks future deadbeat). But I noticed the above verbiage. Is Amsher no more? Is Prosper doing more testing (some loans going to Amsher, some staying in-house)?

I'm not expecting any different results, but I just thought it interesting...

Hmm... I expect that Prosper is taking their new 3.0 stats seriously.  This could be a good thing.  An inhouse Prosper collections staff is more likely to customize the collections efforts to this unique group.  They can play the guilt trip card of "Hey, you are screwing over real people who believed in you not some distant bank." 

Plus Prosper's real ass is on the line here.  They should be extremely motivated to go to the extra effort to get in contact with these individuals.  At the other companies, Prosper loans are just a few in a pool of many loans.  They are going to focus on those who have the best highest chance of pay off with the least amount of effort.  i.e. automated reminder calls and see who calls them back.
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Urbi_et_Orbi

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Re: Amsher out?
« Reply #10 on: February 17, 2010, 04:36:07 pm »
You mean they're FINALLY doing what lenders have been suggesting since the dawn of time?
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TotoMMB

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Re: Amsher out?
« Reply #11 on: February 17, 2010, 04:37:07 pm »
Quote from: Urbi_et_Orbi on February 17, 2010, 04:36:07 pm
You mean they're FINALLY doing what lenders have been suggesting since the dawn of time?

+1. I was just about to type the same thing. So, our current score (in terms of benefits):

Borrowers 34
Lenders 1
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Urbi_et_Orbi

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Re: Amsher out?
« Reply #12 on: February 17, 2010, 04:42:54 pm »
Effectiveness of their in-house collection obviously remains to be seen.  Considering Prosper's track record, I think we should still temper our enthusiasm for a while.

I'm guessing more money could have been recovered via right of Blender off-set than what has legitimately been collected by AmSher.
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bamalucky

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Re: Amsher out?
« Reply #13 on: February 17, 2010, 04:53:40 pm »
How much is Prosper Collection Agency charging?
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onthefence

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Re: Amsher out?
« Reply #14 on: February 17, 2010, 05:23:15 pm »
Quote from: bamalucky on February 17, 2010, 04:53:40 pm
How much is Prosper Collection Agency charging?
  See parent post.  Message says 0%.
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