I received a rather substantial recovery payment on Saturday morning from one of my long-defaulted borrowers. This was quite unexpected for me, as it has been three years since his last payment.
Actually the payment he made was credited on December 12, 2011.
Is Prosper not crediting you with the 8 recovery payments he has made from November 2, 2010 to today?
The actual payment was made in October 2010, but Prosper delayed the reporting so as to put the loan into a Charge-Off status so they could charge lenders
both a "Service fee"
and a "Collection fee" for the same payment.
Prosper never reversed this, but the next few recovery payments were processed correctly.
But then on the December 21, 2011 payment, Prosper again charged double fees.
Maybe a case of the right hand not knowing what the left hand was doing, but lenders are missing money from both pockets.