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Author Topic: Amsher out?  (Read 20195 times)

Capital_Finance_Group

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Re: Amsher out?
« Reply #15 on: February 17, 2010, 05:43:13 pm »
Quote from: onthefence 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%.

0% of -0- = -0-
17% of -0- = -0-
At least that's the way I see it.
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Senator

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Re: Amsher out?
« Reply #16 on: February 18, 2010, 09:36:31 am »
Quote from: bamalucky on February 17, 2010, 04:53:40 pm
How much is Prosper Collection Agency charging?
Prosper charges lenders a 1% fee, no?
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Stats as of 12/29/2010:
Total withdrawals: $3,488.87 minus (-) Total deposits: $3,600.00 = ($111.13)
Cash balance: $0
Principal value of active notes:  $0
Total active notes: 0 of 70.

Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.

I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.

It's a great time to be poor and irresponsible in America. -PPT May 2009

blue

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Re: Amsher out?
« Reply #17 on: February 18, 2010, 09:09:19 pm »
Quote from: Urbi_et_Orbi on February 17, 2010, 04:42:54 pm
Blender off-set

Any idea how many Blenders have defaulted?
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Senator

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Re: Amsher out?
« Reply #18 on: February 18, 2010, 10:42:32 pm »
Quote from: blue on February 18, 2010, 09:09:19 pm
Quote from: Urbi_et_Orbi on February 17, 2010, 04:42:54 pm
Blender off-set

Any idea how many Blenders have defaulted?
One of my blenders defaulted after charging back his last 2 payments, of course.

http://www.ericscc.com/lenders/eeemaan

http://www.ericscc.com/listings/3703
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Stats as of 12/29/2010:
Total withdrawals: $3,488.87 minus (-) Total deposits: $3,600.00 = ($111.13)
Cash balance: $0
Principal value of active notes:  $0
Total active notes: 0 of 70.

Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.

I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.

It's a great time to be poor and irresponsible in America. -PPT May 2009

ira01

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Re: Amsher out?
« Reply #19 on: February 19, 2010, 12:34:19 am »
Quote from: blue on February 18, 2010, 09:09:19 pm
Quote from: Urbi_et_Orbi on February 17, 2010, 04:42:54 pm
Blender off-set

Any idea how many Blenders have defaulted?

I think it is quite a few.  IIRC, there were 6 or 8 way back in mid-2007.  By now, I imagine it is dozens, if not hundreds.
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brianguy

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Re: Amsher out?
« Reply #20 on: February 19, 2010, 11:34:14 am »
Quote from: Senator on February 18, 2010, 10:42:32 pm
Quote from: blue on February 18, 2010, 09:09:19 pm
Quote from: Urbi_et_Orbi on February 17, 2010, 04:42:54 pm
Blender off-set

Any idea how many Blenders have defaulted?
One of my blenders defaulted after charging back his last 2 payments, of course.

http://www.ericscc.com/lenders/eeemaan

http://www.ericscc.com/listings/3703


there should be a special place in hell for these particular folks. 

charging back not one but TWO payments... and getting away with it?   my god Prosper sucks.
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Urbi_et_Orbi

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Re: Amsher out?
« Reply #21 on: February 19, 2010, 11:49:50 am »
Oh, I seem to recall there was some forum drama with eeemaan back in the days.
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

ira01

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Re: Amsher out?
« Reply #22 on: February 19, 2010, 11:55:17 am »
Quote from: brianguy on February 19, 2010, 11:34:14 am
Quote from: Senator on February 18, 2010, 10:42:32 pm
Quote from: blue on February 18, 2010, 09:09:19 pm
Quote from: Urbi_et_Orbi on February 17, 2010, 04:42:54 pm
Blender off-set

Any idea how many Blenders have defaulted?
One of my blenders defaulted after charging back his last 2 payments, of course.

http://www.ericscc.com/lenders/eeemaan

http://www.ericscc.com/listings/3703


there should be a special place in hell for these particular folks. 

charging back not one but TWO payments... and getting away with it?   my god Prosper sucks.

Prosper does suck, but in this case, the payment chargebacks are not Prosper's fault.  Federal law allows people to dispute EFTs (electronic fund transfers, which includes Prosper's ACH pulls) with their bank for 60 days, and while as I read it, the bank only needs to reverse the charge if there was an "error," because banks are liable for wrongfully failing to decide such claims, I suspect banks tend to just reverse any disputed EFT in which the customer claims an "error" without requiring proof that it was an error.  
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If you're not outraged, you're not paying attention.

brianguy

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Re: Amsher out?
« Reply #23 on: February 19, 2010, 12:18:05 pm »
you're probably right from a technical basis, but I admit it's kind of de rigueur (and just plain easier) to blame Prosper.  does this stuff happen on LendingClub?   :ninja:

a lender not only defaulting on a loan but reversing multiple good payments, essentially stealing back what they promised to pay their fellow man they bid side by side with.  it's just all kinds of wrong.
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Urbi_et_Orbi

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Re: Amsher out?
« Reply #24 on: February 19, 2010, 12:27:17 pm »
The establishment of an in-house collections unit would seem to be a lobby-worthy development.
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

TotoMMB

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Re: Amsher out?
« Reply #25 on: February 19, 2010, 03:32:39 pm »
Quote from: Urbi_et_Orbi on February 19, 2010, 12:27:17 pm
The establishment of an in-house collections unit would seem to be a lobby-worthy development.

Out of the two lates I mentioned...Amsher has gotten squat 5 days after loan went to collections, Prosper on the other hand has a pending payment after 6 days in collections. Out of 6 charge-offs, I had received $0 once the loan went to collections. The lone in-house account has already shown potential to be more effective (yes, .0001% isn't huge, but it's still an increase. And payment made and payment clearing are two different animals. I'll keep everyone posted).

Since I have not benefited at all from Firstsource/Amsher/Penncro...do the fees come out of my end (no pun intended)? If borrower X pays $1 towards my chunk of his loan, do I receive $.83 (using Amsher rates)? Or does he pay $1.20 and I'm made whole (on that payment, getting my $1)?
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brianguy

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Re: Amsher out?
« Reply #26 on: February 19, 2010, 03:51:35 pm »
assuming it's a full payment: they pay the regular amount, plus any late fees for the lender, and Amsher (or whomever) takes their 17% cut out of the principal + interest payment.

IOW, no the borrower doesn't pay an extra 17%.  you just receive less.
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Mtnchick

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Re: Amsher out?
« Reply #27 on: February 19, 2010, 05:15:06 pm »
Quote from: Urbi_et_Orbi on February 19, 2010, 12:27:17 pm
The establishment of an in-house collections unit would seem to be a lobby-worthy development.

2nd
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Mark12547

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Re: Amsher out?
« Reply #28 on: February 19, 2010, 07:24:17 pm »
Quote from: Mtnchick on February 19, 2010, 05:15:06 pm
Quote from: Urbi_et_Orbi on February 19, 2010, 12:27:17 pm
The establishment of an in-house collections unit would seem to be a lobby-worthy development.

2nd

I'm not so sure, but I don't see any contra-indicators. (How's that for a weak concurrence?)
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Senator

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Re: Amsher out?
« Reply #29 on: February 20, 2010, 03:45:55 pm »
Quote from: Urbi_et_Orbi on February 19, 2010, 11:49:50 am
Oh, I seem to recall there was some forum drama with eeemaan back in the days.
All I remember is us (well, me) bitching about him.
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Stats as of 12/29/2010:
Total withdrawals: $3,488.87 minus (-) Total deposits: $3,600.00 = ($111.13)
Cash balance: $0
Principal value of active notes:  $0
Total active notes: 0 of 70.

Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.

I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.

It's a great time to be poor and irresponsible in America. -PPT May 2009
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