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[xraider]

I have a loan which SHOULD be "payoff in progress" right now, but instead it shows <15 late, with an automatic payment processing and a $.05 balance owing to me.  All of the payments were automatic, and each was on time.  He's in for a rude surprise.... 

Listing #131229

[DCS]

I've got two of those.  $0.02 left on each, both automatic payments "processing."  Must be part of the enhancements from the last site update. 

http://www.prosper.com/invest/listing.aspx?listingID=129198

http://www.prosper.com/invest/listing.aspx?listingID=129184

[Xenon481]

So, Prosper is saying that the borrower is late even though all automatic payments have been successful?

Nominate to The Lobby.

[DCS]

Seconded.  I sent Prosper an e-mail about this and will post any response to this thread.

[cubbiesnextyr]

I'm confused by what is happening.  Xraider, can you paste the payment history?

[DCS]

Basically, even though there's an automatic payment processing, it's listing the payment status as late < 15d.  There's a small principal balance even though Prosper's automatic pull should have been for enough to cover the entire final payment.

Note share:     $50.00     Principal balance:     $0.02
Payment status:    Late (<15d)

2021080     May-14-2010     May-14-2010     Automatic     Processing     $1.53      -     -     -     -     -
5552588    Apr-14-2010    Apr-14-2010    Automatic    Paid    $1.66    -    -    $0.03    $1.63    $1.53
5491935    Mar-14-2010    Mar-14-2010    Automatic    Paid    $1.66    -    -    $0.05    $1.61    $3.16

For whatever reason, it looks like Prosper pulled less than it needed to and has made this loan late <15d.  All prior payments were on time.

[Beerbud1]

Well that explains why I suddenly have 11 loans in the 1-15 day late category. thanks, X.

[ira01]

I'm confused by what is happening.  Xraider, can you paste the payment history?

I read her post as saying that the borrower made 36 timely automatic payments, yet Prosper thinks he/she still owes a few cents.  In other words, if correct, that means that Prosper isn't properly calculating the monthly payment or the principal balance.  Typical Prosper incompetence.

[cubbiesnextyr]

Ah, now I get it.

Prosper really is pretty incompetent. 

[Beerbud1]

I checked those loans and xraider is correct. 10 cents, 24 cents, 12 cents..........

[DCS]

They replied pretty quickly.

Dear Dan,
 
Thank you for your email. You are correct in that the remaining balances are due to an account system change. We are addressing them as they come in. It will have no impact on the Borrowers credit. We appreciate any input you may have regarding your notes. If you need further assistance feel free to contact us.
 
For future reference, your Prosper support case number is 00410262.
 
Sincerely,
Prosper Customer Support

[Mtnchick]

They replied pretty quickly.

Dear Dan,
 
Thank you for your email. You are correct in that the remaining balances are due to an account system change. We are addressing them as they come in. It will have no impact on the Borrowers credit. We appreciate any input you may have regarding your notes. If you need further assistance feel free to contact us.
 
For future reference, your Prosper support case number is 00410262.
 
Sincerely,
Prosper Customer Support

Sometimes I sit and wonder how much worse they'd be if we didn't contact them about issues they should have found first.

[cowdog]

Dear Dan,
 
Thank you for your email. You are correct in that the remaining balances are due to an account system change. We are addressing them as they come in. It will have no impact on the Borrowers credit. We appreciate any input you may have regarding your notes. If you need further assistance feel free to contact us.
 
For future reference, your Prosper support case number is 00410262.
 
Sincerely,
Prosper Customer Support

So, they are hand picking which borrowers get dings on their credit reports and which don't? Reviewing each and every account for not only this but a host of other glitches in the system?

They can't even manage verification, open a pdf, manage an online forum that a 16 year old gamer kid could have done in his spare time, handle collections, win lawsuits, or even keep a proper loan accounting for lenders or borrowers.

I'm sorry, I have to take this to mean that no one is getting reported to the CRA.

[cwsswc]

My loan, which I paid in full as of October 1, 2008, now shows a "Principal balance" of $0.00 but a "Loan Balance" of $0.03. It has a status of "Paid".

For Prosper's sake, I certainly hope its accounting error does not result in a derogatory mark on my credit report.

[Cushie]

My loan, which I paid in full as of October 1, 2008, now shows a "Principal balance" of $0.00 but a "Loan Balance" of $0.03. It has a status of "Paid".

For Prosper's sake, I certainly hope its accounting error does not result in a derogatory mark on my credit report.

Where are you seeing this?  I want to check my account.