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[no-whammies]

When a borrower makes a payment, as a rule of thumb, how many days before the transaction clears to the Lender?  I'm feeling a distinct slow down in this metric, is it just me?  Is it perhaps a one-time occurence?

[gassman0102]

It used to be 4 business days.  Since the May 3rd platform change it has been my experience that it hs taking 6 business days.

gassman

[God-Father]

I had 4 loans that had an TRANSACTION EFFECTIVE DATE of 1/19/2011 clear today.  I have loans with TRANSACTION EFFECTIVE DATES of 1/15/2011, 1/16/2011, 1/17/2011 and 1/18/2011 that have not cleared.

I called the crack Prosper Customer Service Team and was told they were having some issues getting ACHs to process.  I asked if they would send me a status and was told if it was still broke in a few days give them a call back.      WTF?     


Lobby

[no-whammies]

GF: The question then is, "Were the borrower accounts drafted or not?"

[no-whammies]

Confirming the date range...  All notes in good standing originating on the 15th, 16th, 17th, and 18th are delayed; notes for the 19th just cleared, seven days in limbo.  Lobby? Nay.

[Xenon481]

Nominating to The Lobby!

[God-Father]

GF: The question then is, "Were the borrower accounts drafted or not?"

Don't know and don't care.  My back account is owed money and I am not receiving it. 

[God-Father]

Confirming the date range...  All notes in good standing originating on the 15th, 16th, 17th, and 18th are delayed; notes for the 19th just cleared, seven days in limbo.  Lobby? Nay.

I don't get your point.  Yes the 19th worked correctly.  The 15th, 16th, 17th and 18th obviously did not.  So are you happy that their crap works 1 day out of 5?

I now second for lobby.

[no-whammies]

It doesn't appear to be on-going and they are aware of the problem.

[Xenon481]

Confirming the date range...  All notes in good standing originating on the 15th, 16th, 17th, and 18th are delayed; notes for the 19th just cleared, seven days in limbo.  Lobby? Nay.

I don't get your point.  Yes the 19th worked correctly.  The 15th, 16th, 17th and 18th obviously did not.  So are you happy that their crap works 1 day out of 5?

I now second for lobby.

His point is to report the facts that Prosper messed up their ACH pulls for the 15th-18th and owes everybody a bunch of money and could potentially cause all kinds of things to be screwed up both within Prosper and potentially within the borrowers' accounts. Especially if (speculation) the borrowers' bank accounts have already been debited but Prosper hasn't properly processed the receipts.

[no-whammies]

Well, I don't think we know enough about this situation yet, though we have confirmed a problem.  We can get out our jump-to-conclusions mat about what is going to happen, but it is just speculation at this point.

[God-Father]

It doesn't appear to be on-going and they are aware of the problem.

If today they had gotten the 15th and 16th right and told be they would be catching up some everyday, I could kind of understand your point.  The fact that they got lucky today and don't know how to fix 4 previous days is not good.  

If they were really aware of the problem BEFORE I CALLED, I would have expect a good customer service department to tell me the plan for fixing it, not just call me back in few days.

OBTW are No-Whammies and I the only one experiencing this problem?  

[Xenon481]

They said they had a problem with their ACH processing, so that would indicate everyone that was owed money on loans that should have done an ACH pull between Jan-15th-2011 and Jan-18th-2011 would be experiencing the same problem. I don't have any loans that are currently doing automated ACH pulls, otherwise I'd check.

[Capital_Finance_Group]

It used to be 4 business days.  Since the May 3rd platform change it has been my experience that it hs taking 6 business days.

gassman

That is still a lot quicker that payments received on defaulted loans - 

[God-Father]

I had 4 loans that had an TRANSACTION EFFECTIVE DATE of 1/19/2011 clear today.  I have loans with TRANSACTION EFFECTIVE DATES of 1/15/2011, 1/16/2011, 1/17/2011 and 1/18/2011 that have not cleared.

I called the crack Prosper Customer Service Team and was told they were having some issues getting ACHs to process.  I asked if they would send me a status and was told if it was still broke in a few days give them a call back.      WTF?     


Lobby

The problem appears to have cleared up Jan-26-2011 8:19 PM.