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[Senator]

Nora, Check your email for attachments.

[Nora_Lenderbee]

Nora, Check your email for attachments.

Ah! Thank you!

12602   Loan is receiving bankruptcy plan payments
15108   Pro rata distribution from any remaining plan funds
15417   Pro rata distribution from any remaining plan funds
6808   Pro rata distribution from any remaining plan funds
8651   Pro rata distribution from any remaining plan funds

[Xenon481]

Nora, Check your email for attachments.

Ah! Thank you!

12602   Loan is receiving bankruptcy plan payments
15108   Pro rata distribution from any remaining plan funds
15417   Pro rata distribution from any remaining plan funds
6808   Pro rata distribution from any remaining plan funds
8651   Pro rata distribution from any remaining plan funds

Are you actually receiving payments on any of these? Especially 12602?

[Nora_Lenderbee]

Nora, Check your email for attachments.

Ah! Thank you!

12602   Loan is receiving bankruptcy plan payments
15108   Pro rata distribution from any remaining plan funds
15417   Pro rata distribution from any remaining plan funds
6808   Pro rata distribution from any remaining plan funds
8651   Pro rata distribution from any remaining plan funds

Are you actually receiving payments on any of these? Especially 12602?

12602 paid 6 cents in "Recovery" on 3/11, net deposit of 4 cents on 3/18. Nothing from the others. Are you on that loan, too?

[lhsbandnurd]

Same here, but mine did not include any specific loan numbesr.

I can't quite figure out this sentence:

I am pleased to state that I did not
locate another incident which prompted you to inquire about the status of your
bankruptcies.

What does that mean? Prosper didn't locate any Chap 13 BKs OTHER than the ones I inquired about? Or Prosper looked up the BKs I asked about and decided they didn't need to give me any information?

It means they are happy that they didn't find any more loans where Prosper screwed up. I find it hard to believe that there was only one, and that it would be the first one they looked at, but whatever.

[Senator]

It means they are happy that they didn't find any more loans where Prosper screwed up. I find it hard to believe that there was only one, and that it would be the first one they looked at, but whatever.

+1

For loan #383, I asked if they filed the proper paperwork, and they countered with It doesn't matter since we claim that unsecured creditors got diddly. *whew* AFAIK I have no way to verify their claim.

[xraider]

I do know the name of one of my ch 7s, mandmboysfan.  I checked on him and his ch 7 was discharged in September.  Six months later, it still shows as an open bk in my default list.

It really wouldn't be that hard for Prosper to provide accurate records.

[Xenon481]

It means they are happy that they didn't find any more loans where Prosper screwed up. I find it hard to believe that there was only one, and that it would be the first one they looked at, but whatever.

+1

For loan #383, I asked if they filed the proper paperwork, and they countered with It doesn't matter since we claim that unsecured creditors got diddly. *whew* AFAIK I have no way to verify their claim.

Oh, that's a good point.

Prosper hasn't actually told us that they filed the paperwork properly and in a timely manner, they are just telling us that we weren't going to be getting anything anyways.

Prosper needs to tell us with certainty whether or not the paperwork was filed properly regardless of whether or not we would have gotten anything. Without that information, we cannot properly judge how bad Prosper was about their filings and thus have no baseline to see whether or not there has been any improvement.

[Cushie]

It means they are happy that they didn't find any more loans where Prosper screwed up. I find it hard to believe that there was only one, and that it would be the first one they looked at, but whatever.

+1

For loan #383, I asked if they filed the proper paperwork, and they countered with It doesn't matter since we claim that unsecured creditors got diddly. *whew* AFAIK I have no way to verify their claim.

Oh, that's a good point.

Prosper hasn't actually told us that they filed the paperwork properly and in a timely manner, they are just telling us that we weren't going to be getting anything anyways.

Prosper needs to tell us with certainty whether or not the paperwork was filed properly regardless of whether or not we would have gotten anything. Without that information, we cannot properly judge how bad Prosper was about their filings and thus have no baseline to see whether or not there has been any improvement.

Absolutely true.  It'd be interesting to see the Pacer report for some of these sevens and see if any creditors did file paperwork, and if so, what happened. 

[112233]

It means they are happy that they didn't find any more loans where Prosper screwed up. I find it hard to believe that there was only one, and that it would be the first one they looked at, but whatever.

+1

For loan #383, I asked if they filed the proper paperwork, and they countered with It doesn't matter since we claim that unsecured creditors got diddly. *whew* AFAIK I have no way to verify their claim.

Oh, that's a good point.

Prosper hasn't actually told us that they filed the paperwork properly and in a timely manner, they are just telling us that we weren't going to be getting anything anyways.

Prosper needs to tell us with certainty whether or not the paperwork was filed properly regardless of whether or not we would have gotten anything. Without that information, we cannot properly judge how bad Prosper was about their filings and thus have no baseline to see whether or not there has been any improvement.

how does prosper know what unsecured creditors will get before they file the paperwork and a judge makes a decision?

[shbl]

It means they are happy that they didn't find any more loans where Prosper screwed up. I find it hard to believe that there was only one, and that it would be the first one they looked at, but whatever.

+1

For loan #383, I asked if they filed the proper paperwork, and they countered with It doesn't matter since we claim that unsecured creditors got diddly. *whew* AFAIK I have no way to verify their claim.

Oh, that's a good point.

Prosper hasn't actually told us that they filed the paperwork properly and in a timely manner, they are just telling us that we weren't going to be getting anything anyways.

Prosper needs to tell us with certainty whether or not the paperwork was filed properly regardless of whether or not we would have gotten anything. Without that information, we cannot properly judge how bad Prosper was about their filings and thus have no baseline to see whether or not there has been any improvement.

They should come clean but in reality most Ch 7's will result in no payout and many Ch 11s will end up the same way.  I'm an unsecured creditor right now owed about 2700, I'm getting 3% of what I'm owed split up in quarterly payments over 5 years.  waste of my time to cash the check.


how does prosper know what unsecured creditors will get before they file the paperwork and a judge makes a decision?

[xraider]

shbl, the better question is, was the ch 7 discharged or dismissed?  If it was discharged and we lenders get nothing, tell us.  If it was dismissed, start collections and, again, tell us!

[xraider]

Prosper's as bad as my bad borrowers.  Prosper had agreed to make monthly payments on loan 7107 at the end of each month, as if the payments were made in the ch 13 proceeding.  It's now the 12th and no payment for March 31 yet.  (Anyone remember how to check to see if a payment has been scheduled?)

Off to email Prosper again. 

Unbelievable.  They can't keep their word even to this extent.

[shbl]

Xraider I see what you are saying.  I wonder if it's a legal/privacy/disclosure issue but I doubt it.

They routinely ran 3-4 months behind in reporting to the credit bureaus when I had a loan.  110 days after I had paid it in full I had to send a certified dispute to show it as paid.  Took 28 more days to get it to paid in full.

[xraider]

It seems to have been a glitch on Prosper's end.  I have been assured that it will be paid, and that future payments will be appropriately made.