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[rogerwaite]

Thanks, I'll try to follow suite.

[ira01]

Have you tried calling Plaintiffs' Counsel? 

[Fred93]

Have you tried calling Plaintiffs' Counsel?

No.  I faxed Rosen, but they have not replied.

[mothandrust]

Fred, you might consider cutting and pasting the same info and submitting a BBB claim.

Or maybe several of us should do so.

When Prosper was not passing on collection payments on the eandr loan, I launched a BBB complaint and suddenly they were interested in a dialogue.

[Fred93]

I just got off the phone with Paul Mulholland, pres of Strategic Claims Services.  He swears that the checks were delivered to the Post Office on 9/11.  If that is true, then they should be arriving within the next day or so.

I went over with him the case documents which define when the payment is due, and surprisingly, he agreed with me that checks should have been mailed by January 23rd!  His explanation is that there were delays getting the first distribution done last year, involving reconciling addresses of class members etc, and this year they incorrectly scheduled the distribution on the 1 year anniversary of the distribution that was done last year.  He agrees that it should  have been done on the 1-year anniversary of the judge's preliminary order, which was January 3rd.  He further agrees that the settlement states that the checks will be sent within 20 days of that date.  His explanation is simply that his organization screwed up and entered the wrong date into the computer.  He promises to not make the same mistake next year.

He says anyone who hasn't received a check within the next day or so (I'd say couple of days) should  call him, and he'll cancel the check in flight and send a new one overnight.

Paul Mulholland, CPA
President
Strategic Claims Services
225 State Road
Media, PA 19063
610-891-9852

He also said that lawyers at Rosen were aware, although I note that they apparently decided not to respond to my fax about this.

[112233]

He also said that lawyers at Rosen were aware, although I note that they apparently decided not to respond to my fax about this.

are attorney fees paid on the same schedule as the settlement checks?

[mothandrust]

There's no "next year"--if they missed the deadline by 20 days, the entire amount of the settlement is due, along with 7% per annum interest.

[Fred93]

I'll have to reread the part of the docs where it talks about what happens when they miss.  I ignored that in my 1st read, as I was just trying to nail down when we should have received the money.

[yankeefan]

Received my check in today's mail.  Check dated 9/11.  No postmark.

[cubbiesnextyr]

There's no "next year"--if they missed the deadline by 20 days, the entire amount of the settlement is due, along with 7% per annum interest.

Are we going to have to file a class action to get the interest from our previous class action? 

[DCS]

Received my check in today's mail.  Check dated 9/11.  No postmark.

Same here. Got my $43.57. 

[mothandrust]

There's no "next year"--if they missed the deadline by 20 days, the entire amount of the settlement is due, along with 7% per annum interest.

Are we going to have to file a class action to get the interest from our previous class action? 

And lawyers get all their fees off the top and another 1/3 of the total? 

[Fred93]

Suggest you keep a photocopy of the check, as we may need the evidence of the 9/11 date on the checks, as we pursue whatever comes next.

[yankeefan]

Suggest you keep a photocopy of the check, as we may need the evidence of the 9/11 date on the checks, as we pursue whatever comes next.

Will do.

[Fred93]

There's no "next year"--if they missed the deadline by 20 days, the entire amount of the settlement is due, along with 7% per annum interest.

Not clear to me.  (I am not a lawyer.)  The settlement has this harsh penalty if Prosper fails to pay to the settlement escrow by 10 days past the anniversary of the preliminary order, but we don't know yet whether that in fact happened.  The settlement says that the checks must be sent to us by 20 days past the anniversary.  That clearly didn't happen, but as I read the settlement, there is no prescribed penalty for a failure to meet that deadline.

I sent an email to Paul Mulholland at SCS asking on what date Prosper made the 2nd $2,000,000 payment to the settlement escrow.  The escrow account is administrated by yet another party (a bank), so he may not even know the answer to this question.  I'm sure the lawyers have access to the information.

While I was doing this I noticed something else.  When Paul sent the earlier mail to me offering to cut a new check and overnight it, he cc'd Laurence Rosen (plaintiffs lawyer).  I noted that Rosen didn't respond to my earlier fax, but perhaps he contacted Mulholland as a result of my fax, and therefore ended up cc'd on Mulholland's email to me.   In any case, Rosen has received both faxes and emails at this point, so he clearly knows about the issue.

So I now know Rosen's email address, and I cc'd him on my question about Prosper's payment date.