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[msava]

The Indians are waiting on their next Prosper check!

[rogerwaite]

Yep

[mothandrust]

The Indians are waiting on their next Prosper check!

Still calling tech support?  I thought your computer problems had been solved. 

[rogerwaite]

The Indians are waiting on their next Prosper check!

Still calling tech support?  I thought your computer problems had been solved. 

I took it to mean a "natives are restless" statement.

[yankeefan]

The Indians are waiting on their next Prosper check!

Still calling tech support?  I thought your computer problems had been solved. 

I took it to mean a "natives are restless" statement.

Or maybe she's talking about her next casino visit...   

[czach]

Wait, I am getting *another* check? Damn my ROI in Prosper is getting better and better.....

[cubbiesnextyr]

Wait, I am getting *another* check? Damn my ROI in Prosper is getting better and better.....

You should receive 2 more, one this year and one next year.

[rogerwaite]

Wait, I am getting *another* check? Damn my ROI in Prosper is getting better and better.....

You should receive 2 more, one this year and one next year.

IIRC it's 3 more.

[Urbi_et_Orbi]

There should be a total of four checks for the class members. The last two should be larger than the first two.

[cubbiesnextyr]

There should be a total of four checks for the class members. The last two should be larger than the first two.

Oh cool.  Thanks Urbi.

[czach]

Indeed, thank you for the clarification.

[faithful_steward2]

The proposed Settlement consists of four annual payments from Prosper into an escrow account (the “Settlement Fund”) out
of which an independent professional settlement administrator, Strategic Claims Services (the “Settlement Administrator), will
disburse funds to the Class Members. In exchange for a full release of claims as to all Class Members against all Defendants,
Prosper agrees to pay the total Settlement amount of $10,000,000, according to the following schedule:
• $2,000,000 within ten days of January 3, 2014, the date the Court entered its order granting preliminary approval of the
Settlement Agreement (the “Preliminary Approval Order”);
• $2,000,000 on the one-year anniversary of the Preliminary Approval Order;
3
• $3,000,000 on the two-year anniversary of the Preliminary Approval Order; and
• $3,000,000 on the three-year anniversary of the Preliminary Approval Order.

1) So did the preliminary date of Jan 3 change or why are we getting payments in the fall?

2) If Prosper goes bankrupt, would we be unsecured creditors for the last two payments?

3) What happened to the unclaimed funds from the first disbursement (due to inability to contact, non-cashing of checks, etc)? From reading the settlement, it was supposed to be allocated out to the rest of us that cashed our checks. Is it going to be added to the second disbursement or fourth and last disbursement?

[mothandrust]

2) If Prosper goes bankrupt, would we be unsecured creditors for the last two payments?

Lenders have ALWAYS been unsecured creditors of Prosper.  Anyone who gets a slice of an "AA" loan on Prosper is now an unsecured bondholder of whatever S&P or Moody's would rate Prosper's unsecured debt...if they sought such a rating.  CC?  CCC-?

[Fred93]

1) So did the preliminary date of Jan 3 change or why are we getting payments in the fall?

A good question.  If you call the lawyers and ask, please tell us what nonsense they give you for an answer. 

For the first payment, one could argue that there were tasks to perform.  Perhaps double-checking the lists, hiring somebody to do the bulk check distribution, determining proper audit (cover your ass) procedures, etc.  For the second payment, all this is already done, so all you gotta do is push a button.  This can't possibly take 7 months when performed by normal humans.

[msava]

1) So did the preliminary date of Jan 3 change or why are we getting payments in the fall?

A good question.  If you call the lawyers and ask, please tell us what nonsense they give you for an answer. 

For the first payment, one could argue that there were tasks to perform.  Perhaps double-checking the lists, hiring somebody to do the bulk check distribution, determining proper audit (cover your ass) procedures, etc.  For the second payment, all this is already done, so all you gotta do is push a button.  This can't possibly take 7 months when performed by normal humans.

Fred are you telling us Prosper hired aliens or abnormal beings to handle our money? Explains a lot.