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[yankeefan]

oops

[cubbiesnextyr]

I haven't gotten mine yet.  Now I'm starting to wonder if my address was ever updated.  We moved in May 2014, so I think when the 1st check was paid it was still during my mail forwarding period and I'm starting to think I never updated the address with them.  How do I get that fixed?

[Flying Missle]

We're really supposed to believe that Prosper pays out $2,000,000 and no one follows up with where the money goes?

Prosper assumed that Strategic Claims would properly handle the payments, but SC dropped the ball.

We don't know for sure.  From what people are saying, it appears that Prosper paid on time and SC dropped the ball.  I don't have any tangible evidence.  I would prefer to have evidence.  I believe it is reasonable for class members to see some evidence of Prosper's on-time payment, as we waited 8 months for payment and do not know why.

I explicitly asked the CEO of SC (via email) when Prosper paid the escrow account, and he declined to answer.  That alone is a little suspicious. 

Presuming that Prosper did pay on time, the next question is... Are there any repercussions of SC dropping the ball and delaying payment for 8 months?   I don't find any explicit penalty on SC in the settlement or the judge's order.  That doesn't mean there shouldn't be some.

SC failed to carry out the actions that the settlement said they were supposed to.  It explicitly said within 20 days of..., and SC missed that by 8 months.  It appears that they only woke up after I sent them email telling them I thought they were late.

I think a reasonable remedy would be to cut their fee for this payment in half.

SC would never initiate their own punishment.  I don't think plaintiffs lawyers will initiate it.  They do too much work with SC.  No upside for them.  One of us would have to write the judge.

This is by no means proof, but Prospers 3/31/15 10-Q Balance Sheet shows a decrease in the Class Action Settlement Liability from $7.861MM to $5.880MM between 12/31/14 and 3/31/15. That would indicate that the payment was made at some point during that period.

[yankeefan]

I haven't gotten mine yet.  Now I'm starting to wonder if my address was ever updated.  We moved in May 2014, so I think when the 1st check was paid it was still during my mail forwarding period and I'm starting to think I never updated the address with them.  How do I get that fixed?

http://www.prosperclassaction.com/

[mothandrust]

Looks like that's what happened.  Prosper assumed that Strategic Claims would properly handle the payments, but SC dropped the ball.

If that's what happened, then after Prosper pays the Class the full $8,000,000 plus 7% interest that's due, Prosper will have a good case against Strategic Claims to recover from them.

Why is it fair that the Class suffers the harm because Prosper makes a faulty assumption?

[rogerwaite]

I haven't gotten mine yet.  Now I'm starting to wonder if my address was ever updated.  We moved in May 2014, so I think when the 1st check was paid it was still during my mail forwarding period and I'm starting to think I never updated the address with them.  How do I get that fixed?

http://www.prosperclassaction.com/

Just fill in your name and my address and voila. The check will show up in no time. 

[ira01]

Looks like that's what happened.  Prosper assumed that Strategic Claims would properly handle the payments, but SC dropped the ball.

If that's what happened, then after Prosper pays the Class the full $8,000,000 plus 7% interest that's due, Prosper will have a good case against Strategic Claims to recover from them.

Why is it fair that the Class suffers the harm because Prosper makes a faulty assumption?

Because Prosper had no legal duty to do more than it did.  The settlement agreement incorporated into the final court order required it to pay the $2M by a certain date, and that was it.  If it did so, its duty was done at that point (until the next payment is due). 

[artjunkie]

I just got a check for $4.44, about 5% of my loss.

That brings my total Prosper loss to about $83.50.

[faithful_steward2]

Any update on this? I would hope one of our representatives that got paid thousands of dollars to lead the class would make a simple phone call to one of their contacts at the law firm and get clarification from our counsel, who could file a discovery request from either prosper or the distribution company, etc (to get information on the delinquent payment and the repurcussions).

[ducks]

I got my check in September, too. $9.73.

Edit: I finally looked up my bank records from 9/20/14 and I received $9.03. I forgot about that.

[Fred93]

   I just sent a note to Strategic Claims reminding them that our distributions are due in January, about a month from now.  I mentioned that as they made the prior distribution eight months late, we'd like this one a little early.

[Mtnchick]

  I just sent a note to Strategic Claims reminding them that our distributions are due in January, about a month from now.  I mentioned that as they made the prior distribution eight months late, we'd like this one a little early.

 

[rogerwaite]

Thank you Fred.

[Fred93]

Strategic Claims chose not to respond to my email of a couple of weeks ago.

If any of you want to send them a polite reminder about the checks due to us in January 2016, their email address is:  info@strategicclaims.net

A reminder might seem like an odd thing, but they were eight months late delivering the checks in 2015, and claimed that was due to a clerical error, specifically a botched entry in their tickler system. 

[James01]

I sent a polite reminder.  Thanks, Fred93.