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[Fred93]

There seem to be some prosper loans that are "stuck" in the "late" state, and do not proceed to paid or charged off.

For example, look at loans originated in December 2006.  (ie use Dec 1 '06 as start date and Dec 31 '06 as stop date)  The stats show 6 late loans.  These loans should have made their last payment in Jan 2010.   Loans can be up to 4 months late before chargeoff, so you might expect to see some late loans in Feb, Mar, Apr, May 2010, but after that it seems the late numbers should all be zero, as all the loans should have moved to either "paid" or "charged off",eh?

Right now (using observation date of 11/23/2010), they show 1 loan in the 16-30D late, and 5 loans in the 30-60D late category.   If I use a 9/1/2010 observation date, they still show 1 loan 16-30D late  and 5 loans in the 30-60D late category.  If I use a 5/1/2010 observation date, I see the same numbers!  Loans are supposed to move out of the 16-30D category as time moves on, etc.  How can loans sit stuck in these late categories for 7 months?

Dec'06 is not the only month which contains loans that are stuck like this.   Jan, Feb, Mar, Apr'07 have some too.

I sent a message to prosper asking about this, but have not received a reply.

May 1 2010 observation date...
http://www.prosper.com/invest/performance.aspx?af=0&esba=233&gm=0&gr=0%2c1%2c2%2c3%2c4%2c5&hw=0&iba=255&ibid=0&ihide=0&iwatch=0&lc=0%2c1%2c2%2c3%2c4%2c5%2c6%2c7&lq=&maxAmt=100000&maxDTI=1000000&maxFund=1&maxGrpTLC=1000000&minA=0&minAA=0&minAmt=0&minB=0&minC=0&minD=0&minDTI=0&minE=0&minFund=0&minGrpTLC=0&minHR=0&minNC=0&occ=&od=05%2f01%2f2010&oer=12%2f31%2f2006&osr=12%2f01%2f2006&pbt=1&plcsd=&plp=0&pmr=0&prdTP=1%2c2%2c5&sf=10&sh=0&sn=&tg=0

Nov 1 2010 observation date...
http://www.prosper.com/invest/performance.aspx?af=0&esba=233&gm=0&gr=0%2c1%2c2%2c3%2c4%2c5&hw=0&iba=255&ibid=0&ihide=0&iwatch=0&lc=0%2c1%2c2%2c3%2c4%2c5%2c6%2c7&lq=&maxAmt=100000&maxDTI=1000000&maxFund=1&maxGrpTLC=1000000&minA=0&minAA=0&minAmt=0&minB=0&minC=0&minD=0&minDTI=0&minE=0&minFund=0&minGrpTLC=0&minHR=0&minNC=0&occ=&od=11%2f01%2f2010&oer=12%2f31%2f2006&osr=12%2f01%2f2006&pbt=1&plcsd=&plp=0&pmr=0&prdTP=1%2c2%2c5&sf=10&sh=0&sn=&tg=0

[onthefence]

Lobby.

[DCS]

Could these purgatory loans be Chapter 13's?

[yankeefan]

Notice the amounts in the "Delinquency activity" section-  only a few dollars each.  Could be the remaining principal at the 36th month when some of the payments were late.   Still a sloppy process.

[112233]

I sent a message to prosper asking about this, but have not received a reply.

Im feeling deja vu

[Mtnchick]

Notice the amounts in the "Delinquency activity" section-  only a few dollars each.  Could be the remaining principal at the 36th month when some of the payments were late.   Still a sloppy process.

That would be my guess.

Apparently posting an issue here is getting a faster response now than querying CS. So perhaps now Prosper will tell us

[Fred93]

Still no answer from Prosper.

[Mark12547]

Lobby?

[Fred93]

Could these purgatory loans be Chapter 13's?

I wondered same thing, so I looked at chapter 13 loans in my own account.   All of them are in the "charged off" state, so I assume that's what is supposed to happen to chapter 13 BK loans, rather than getting stuck in "16-30D late". 

I dunno.  Frankly I don't understand how they are handling chapter 13 these days. 

[nonattender]

Could we all chill out a bit on "escalating" stuff like this ("Lobby!!  It's been... almost 14 hours!"), please?

I'm kind of enjoying having a little interaction here with someone from Prosper who's taking an interest in
the community - which we've all been clamoring for, for like, 3 years - so, could we relax a bit on having
expectations of some kind of miraculous instant investigation of an issue, complete with public response?

Those of you who were around when Andrew was conversing with us in the old forums remember what I
am talking about...  I felt bad for the guy, after a while, because you could tell that the weight of all of
the different people wanting immediate answers to their posts (or else there'd be "trouble") took its toll.

(Maybe no one will know what I'm talking about, but, at this point I'd just like to say:  I miss Epictetus.)

-t

[112233]

fred, did you get an auto reply or some sort of response stating they are looking into the issue? perhaps a ticket #?

[Mtnchick]

NA - perhaps you misunderstand what the Lobby is for. It's for Google. If there's something that pertains to Prosper clearly like this that prospective lenders, borrowers, press, etc. would be interested in, why wouldn't it be put in the Lobby? The ONLY reason it didn't automatically go there is because Ferris made the (IMHO, right) decision to have it put elsewhere first and then. Putting things like this in the lobby also prompts others to join up and read the rest of the site - although I can see how you'd consider that a bad thing

In addition, from what I can tell Fred contacted Prosper - not one specific person at Prosper. They have more than one employee, right? "...the weight of all of the different people wanting immediate answers to their posts", LOL!! I sent an email to a company with one person running it this morning and got a response w/in an hour. Ditto to a company the size of Dell. Fred didn't say he sent an email the minute he posted here so I doubt it's just been 14 hours since he first tried to get an explanation.

Seriously, your cheerleader attitude for Prosper is making it where you can't even read and digest posts anymore.

And +1 for the Lobby

[Beerbud1]

2nd for The Lobby.

[ladeeda]

I'm kind of enjoying having a little interaction here with someone from Prosper who's taking an interest in
the community - which we've all been clamoring for, for like, 3 years - so, could we relax a bit on having
expectations of some kind of miraculous instant investigation of an issue, complete with public response?

Give an inch, take a mile.

[Mtnchick]

I'm kind of enjoying having a little interaction here with someone from Prosper who's taking an interest in
the community - which we've all been clamoring for, for like, 3 years - so, could we relax a bit on having
expectations of some kind of miraculous instant investigation of an issue, complete with public response?

Give an inch, take a mile.

In addition, from what I can tell Fred contacted Prosper - not one specific person at Prosper. They have more than one employee, right? "...the weight of all of the different people wanting immediate answers to their posts", LOL!! I sent an email to a company with one person running it this morning and got a response w/in an hour. Ditto to a company the size of Dell. Fred didn't say he sent an email the minute he posted here so I doubt it's just been 14 hours since he first tried to get an explanation.

I also didn't see where Fred asked publicly for anything nor where he asked for a public response. Reading his post is certainly seems to me that he sent an email to Prosper. Perhaps you and NA can show us where it happened since you both seem to see it that way?

Just an FYI in case NA hasn't clued you in yet - Fred used to be one of your largest lenders. Prosper not responding to him would be like Boeing not responding to Delta. Which unfortunately is SOP for Prosper.