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[God-Father]

Hopefully they paid in BITCOINS.

[ResearchPro]

I think the most important lesson they learned is that lenders need to be happy. If lenders are not happy, Prosper will fail and I think they know that now.

Have they learned that? If so, it would go against all my experience with them.

I'm sure we saw it from here, but did they learn it too? What you consider as indication that they did?

The biggest indicator is current lenders' returns. Also, the fact that the returns that Prosper advertises are now based on real data and the fact that their calculations of those returns are transparent are also big indicators.  Now you can actually see how they calculate their returns and I think in certain blog post they walk you through the calculation. I'm not sure, but maybe they do that in the risk analysis reports. In those reports it is quite apparent to me that they are not attempting to fool anyone or pull any wool over anyone's eyes. But that is just my opinion and my own analysis of their data seems to verify their findings.

The biggest anti-indicator for me are the stories like that that are still occurring:
http://www.prospers.org/forum/help_prosper_withdrew_four_4_times_in_a_month_not_refunding_the_money-t24494.15.html
I don't want to find myself calling their customer support on any matter influencing my returns, and I still see a significant possibility of these calls if I choose to continue doing business with Prosper.

[312lender]

Quote from: kenL on June 08, 2011, 11:06:06 pm
Quote from: ResearchPro on June 08, 2011, 10:38:34 pm
Quote from: Mark12547 on June 08, 2011, 09:10:23 pm
Quote from: kenL on June 08, 2011, 08:52:45 pm
I think the most important lesson they learned is that lenders need to be happy. If lenders are not happy, Prosper will fail and I think they know that now.
Have they learned that? If so, it would go against all my experience with them.

I'm sure we saw it from here, but did they learn it too? What you consider as indication that they did?
The biggest indicator is current lenders' returns. Also, the fact that the returns that Prosper advertises are now based on real data and the fact that their calculations of those returns are transparent are also big indicators.  Now you can actually see how they calculate their returns and I think in certain blog post they walk you through the calculation. I'm not sure, but maybe they do that in the risk analysis reports. In those reports it is quite apparent to me that they are not attempting to fool anyone or pull any wool over anyone's eyes. But that is just my opinion and my own analysis of their data seems to verify their findings.


The biggest anti-indicator for me are the stories like that that are still occurring:
http://www.prospers.org/forum/help_prosper_withdrew_four_4_times_in_a_month_not_refunding_the_money-t24494.15.html
I don't want to find myself calling their customer support on any matter influencing my returns, and I still see a significant possibility of these calls if I choose to continue doing business with Prosper.

I doubt these incidents happen often.  They're probably quite rare.

[yankeefan]

I doubt these incidents happen often.  They're probably quite rare.

It's not that Prosper makes mistakes, or drafts the wrong amounts, it's that they say they'll fix it, andmake it worse, or, more often, don't respond at all until after they read about it here, rather than listening to their voicemails.

[ira01]

Quote from: kenL on June 08, 2011, 11:06:06 pm
Quote from: ResearchPro on June 08, 2011, 10:38:34 pm
Quote from: Mark12547 on June 08, 2011, 09:10:23 pm
Quote from: kenL on June 08, 2011, 08:52:45 pm
I think the most important lesson they learned is that lenders need to be happy. If lenders are not happy, Prosper will fail and I think they know that now.
Have they learned that? If so, it would go against all my experience with them.

I'm sure we saw it from here, but did they learn it too? What you consider as indication that they did?
The biggest indicator is current lenders' returns. Also, the fact that the returns that Prosper advertises are now based on real data and the fact that their calculations of those returns are transparent are also big indicators.  Now you can actually see how they calculate their returns and I think in certain blog post they walk you through the calculation. I'm not sure, but maybe they do that in the risk analysis reports. In those reports it is quite apparent to me that they are not attempting to fool anyone or pull any wool over anyone's eyes. But that is just my opinion and my own analysis of their data seems to verify their findings.


The biggest anti-indicator for me are the stories like that that are still occurring:
http://www.prospers.org/forum/help_prosper_withdrew_four_4_times_in_a_month_not_refunding_the_money-t24494.15.html
I don't want to find myself calling their customer support on any matter influencing my returns, and I still see a significant possibility of these calls if I choose to continue doing business with Prosper.

I doubt these incidents happen often.  They're probably quite rare.

And what are you basing that belief on, other than your Kool-Aid consumption?  IIRC, Mtnchick recently had a double-debit on her loan as well.  In any event, as Yankeefan pointed out, the biggest issue isn't that "stuff" occasionally happens -- it is that Prosper's CS response is consistently terrible. 

[112233]

they're a start up company. give them some time.

[312lender]

it is that Prosper's CS response is consistently terrible.

I don't think anybody can claim it's consistently terrible.  My experiences with them have been fine for the most part.  Could it have been better? Of course.  But to say its CONSISTENTLY terrible I think is a gross exaggeration. 

[Xenon481]

it is that Prosper's CS response is consistently terrible.

I don't think anybody can claim it's consistently terrible.  My experiences with them have been fine for the most part.  Could it have been better? Of course.  But to say its CONSISTENTLY terrible I think is a gross exaggeration. 

I have had several interactions with Prosper's Customer Support and have never had a single instance where things were resolved without further issues. Often times, they would completely forget to do what they told me they would do.

[Beerbud1]

it is that Prosper's CS response is consistently terrible.

I don't think anybody can claim it's consistently terrible.  My experiences with them have been fine for the most part.  Could it have been better? Of course.  But to say its CONSISTENTLY terrible I think is a gross exaggeration. 

I have had several interactions with Prosper's Customer Support and have never had a single instance where things were resolved without further issues. Often times, they would completely forget to do what they told me they would do.

How about the time I sent an e-mail to the Customer Service Manager and my e-mail ended up in his spam folder.

[312lender]

I have had several interactions with Prosper's Customer Support and have never had a single instance where things were resolved without further issues. Often times, they would completely forget to do what they told me they would do.

Your interactions with Prosper CS were years ago, Xenon.    

[Xenon481]

I have had several interactions with Prosper's Customer Support and have never had a single instance where things were resolved without further issues. Often times, they would completely forget to do what they told me they would do.

Your interactions with Prosper CS were years ago, Xenon.    

Actually, I've had a few fairly recently (within the past 12 months) that still had all the exact same types of problems.

[ira01]

I have had several interactions with Prosper's Customer Support and have never had a single instance where things were resolved without further issues. Often times, they would completely forget to do what they told me they would do.

Your interactions with Prosper CS were years ago, Xenon.    

How about xraider's issues with her BK payments that Prosper promised to make to her and other lenders on that loan (since Prosper apparently forgot to file a timely proof of claim with the BK court on that loan)?  As she has posted here recently, Prosper has forgotten to make nearly every payment, until she calls Larsen to remind him. 

Then there was my issue only a few months ago in which I noticed that several of my BKs were showing information that was long out of date -- It took Prosper something like a week to reply with a boilerplate "we'll look into it" email, and then another month to come up with a substantive response. 

[God-Father]

In the last two years I have had 4 opportunites to interact with Prosper CS via email.

• 1 - totally satisfactory outcome
• 1 - got a response, but was very unhappy with the answer
• 2 - never got a response

During my first year of dealing with Prosper CS, most here were complaining and I was getting near perfect response.  Maybe there is a .org list, which I am now on.



ETF Typo

[havastat]

Early investors who have chosen not to pony up more have gotten their investment diluted into a tiny sliver. The round was at the same price as the D round, but since it's less than a tenth of the C round and less than half the A round it reflects a belief that Prosper is a much riskier investment than it appeared to be in 2007.  

On the other hand, it means Prosper will be around for a while and has a chance of increasing its base to the point of viability. Its short term viability, a serious issue in the last few months, has been settled for the time being. This gives it some breathing space.

[God-Father]

So how long does 17.2 million last?