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[nonattender]

I am speaking based on the comments I read from borrowers that posted their experience after having gone late (Gen 1 loans at least). Almost none were ever called by prosper or the 3rd party collectors.

Uh.  Consider the source.

What are people who stiffed you going to say?  "Yes, they call all the time, and I tell them to get lost,
even though I realize they're acting on your behalf and that I'm really telling YOU to go piss up a rope."

Is there a better way to, after ingratiating yourself with lenders - and then stiffing them - absolve the
personal guilt, than shifting the blame to another party?  Ever see a kid "playing" their parents against
each other?  Lenders and Prosper are mommy and daddy.  Do something bad, kiddo?  "But Dad said...!"

... and then the parents fight - and the kid walks.

-t

[Mtnchick]

NA, there were plenty of borrowers posting on Creditboards that they never heard from Prosper regarding late loans. I'd hardly think they were in any way, shape or form trying to buddy up with their lenders. 

[nonattender]

NA, there were plenty of borrowers posting on Creditboards that they never heard from Prosper regarding late loans. I'd hardly think they were in any way, shape or form trying to buddy up with their lenders. 

No, they're involved in a massive group hug facilitated by people who are fleecing them by providing a
forum for them to mutually/indirectly assuage one another's guilt by blaming people who trusted them.

"Oh, they never call.  Rarely.  Either way, -they- should do more, and we shouldn't pay until they do."

And you know as well as I do that that line always moves.

Once again:  "consider the source".

-t

[Mtnchick]

The sources are giving us statements regarding how collections have worked in their situations. Prosper hasn't ever rebutted them. Perhaps Prosper could finally do what has been suggested for over 3 years and give us some sort of transparency into the inhouse collections process?

[ira01]

The sources are giving us statements regarding how collections have worked in their situations. Prosper hasn't ever rebutted them. Perhaps Prosper could finally do what has been suggested for over 3 years and give us some sort of transparency into the inhouse collections process?

Exactly.  Moreover, we hear the same story from borrower after borrower, again and again.  I doubt they are all making up the same lies.  Never do I recall hearing from a borrower that Prosper hounded them over their late loan.

[nonattender]

The sources are giving us statements regarding how collections have worked in their situations. Prosper hasn't ever rebutted them. Perhaps Prosper could finally do what has been suggested for over 3 years and give us some sort of transparency into the inhouse collections process?

Exactly.  Moreover, we hear the same story from borrower after borrower, again and again.  I doubt they are all making up the same lies.  Never do I recall hearing from a borrower that Prosper hounded them over their late loan.

Uh.  Ok, so, you won't believe it until you hear it, directly, from someone who is hiding from their debt?
(Do you begin to see the damned and incredible problem with that logic?  I certainly hope that you do.)

-t

[Xenon481]

The sources are giving us statements regarding how collections have worked in their situations. Prosper hasn't ever rebutted them. Perhaps Prosper could finally do what has been suggested for over 3 years and give us some sort of transparency into the inhouse collections process?

Exactly.  Moreover, we hear the same story from borrower after borrower, again and again.  I doubt they are all making up the same lies.  Never do I recall hearing from a borrower that Prosper hounded them over their late loan.

Uh.  Ok, so, you won't believe it until you hear it, directly, from someone who is hiding from their debt?
(Do you begin to see the damned and incredible problem with that logic?  I certainly hope that you do.)

-t

We are going off of the only information that we have. Information that appears to fall in line with observations. Information that Prosper refuses to refute.

[Shenandoah]

NA, there were plenty of borrowers posting on Creditboards that they never heard from Prosper regarding late loans. I'd hardly think they were in any way, shape or form trying to buddy up with their lenders. 

No, they're involved in a massive group hug facilitated by people who are fleecing them by providing a
forum for them to mutually/indirectly assuage one another's guilt by blaming people who trusted them.

"Oh, they never call.  Rarely.  Either way, -they- should do more, and we shouldn't pay until they do."

And you know as well as I do that that line always moves.

Once again:  "consider the source".

-t

Actually, one of the most popular threads on CB is "XYZ creditor won't stop calling me.  How do I get them to stop?"
I would love to see XYZ filled in with "Prosper," but alas, it never is.

[xraider]

NA, I had some communications with several of my late borrowers, including one who filed for ch 7 and repaid the loan.  They said there were no communications with Prosper either.

Ladeeda, we appreciate your comments and your joining us here.  Yes, there is a lot of anger, but you do help mute it.

[SamuelPickwick]

They took 27.5% from one of my recovery payments last week ($4.95/$18.00).  It was not indicated in any fee column; things just didn't add up.

For the record, in this thread, it was actually 30% of the recovery ($5.40/$18.00).  I was set straight on accounting at Prosper, those unreclaimable blaygairds.

[Beerbud1]

I noticed a recovery payment today in the History transactions. I went to the borrower page and the borrower is from California. I also noticed that there was "no recovery fee" taken. Are the loans that there is a recovery fee, is it possible that the borrowers are from some place other than California?

[God-Father]

I believe there are no fee for loans that are in bankruptcy.  Could that be what you are seeing.

[Beerbud1]

I believe there are no fee for loans that are in bankruptcy.  Could that be what you are seeing.

No! I looked for that and she is not in Bankruptcy!

Title:      RE-LISTED/DETERMINED SOMEONE LISTEN
Loan #7633 | Note #7633-34 | View listing | View promissory note
Original loan:    $2,700 @ 24.00%
36 month loan
   Origination date:    Feb-21-2007
Note share:    $100.00    Principal balance:    $28.80
Payment status:    Charge-off
In collections
      
Charge-off date:    Aug-22-2009    Charge-off balance:    $38.28

[God-Father]

Did you look on the LENDER ACCOUNTING tab?

[Beerbud1]

Did you look on the LENDER ACCOUNTING tab?

Yes! there was a Collection Fee($1.00/$3.89 and service fee of .06) back in June and a small service  fee(.02) back in May, but nothing since then.