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[Fred93]

He started the "New Agency Test" program to take legal action against gravely delinquent borrowers.  That was months ago.  Have any of you who frequent PACER or whatever seen evidence of legal action(s) yet?

[traveler505]

They would be filed in California state court, not federal, so they wouldn't be in PACER.  California state courts are a PITA to search, because you have to do it county-by-county, and some counties charge to use their websites. (I'm not even sure if all California counties are online.)  Eventually, cases will show up on Lexis or Westlaw, which xraider has access to, but that can take saveral months.

The last time xraider checked the more populous counties (during PD'08, I think), nothing showed up. 

[ira01]

They would be filed in California state court, not federal, so they wouldn't be in PACER.  California state courts are a PITA to search, because you have to do it county-by-county, and some counties charge to use their websites. (I'm not even sure if all California counties are online.)  Eventually, cases will show up on Lexis or Westlaw, which xraider has access to, but that can take saveral months.

The last time xraider checked the more populous counties (during PD'08, I think), nothing showed up. 

Has anyone looked at the NAT loans to see which have the City displayed?  Then we would at least know which counties to check in (although odds are that a bunch will be in Los Angeles, Alameda, San Francisco, Orange, San Diego, and Sacramento counties). 

[xraider]

If someone can post cities, I'll check again.

Only suit I can find through Lexis is the Vicki Crawford suit.

Nothing in San Francisco.

Nothing in San Diego.

Nothing in Sonoma.

Here's one in Riverside, filed 2/25/08: http://public-access.riverside.courts.ca.gov/OpenAccess/CIVIL/civildetails.asp?casenumber=494584&courtcode=A&dsn=&casetype=RIC

If the link doesn't work, search Riverside civil records, and type in "Prosper Marketplace" as a party.

Orange County search isn't working.

If someone can give me city information, I can search other counties.

[BigGulp]

Santa Clara County

Alameda County

San Mateo County

Locals to me.

...Gulp

[BigGulp]

I will say that Hunt & Henriques are damn good collection attorneys.

...Gulp

[xraider]

Nothing in Santa Clara

Can't search by name in Alameda

Nothing in San Mateo.

However, I'll check all again next week if reminded.

[BigGulp]

Anybody find the loan associated with the case?

...Gulp

[Fred93]

Here's one in Riverside, filed 2/25/08: http://public-access.riverside.courts.ca.gov/OpenAccess/CIVIL/civildetails.asp?casenumber=494584&courtcode=A&dsn=&casetype=RIC

One has been filed!  This is quite a landmark.

[lenderguy]

Here's one in Riverside, filed 2/25/08: http://public-access.riverside.courts.ca.gov/OpenAccess/CIVIL/civildetails.asp?casenumber=494584&courtcode=A&dsn=&casetype=RIC

One has been filed!  This is quite a landmark.

HELL HATH FROZEN OVER!

[ira01]

Here's one in Riverside, filed 2/25/08: http://public-access.riverside.courts.ca.gov/OpenAccess/CIVIL/civildetails.asp?casenumber=494584&courtcode=A&dsn=&casetype=RIC

One has been filed!  This is quite a landmark.

IIRC, someone posted in one of the PD08 threads that he claimed something like 5 cases had already been filed (not that 5 out of 66 or whatever is so great).  There could have been 1 or 2 each in several tiny counties that xraider hasn't checked yet.

[112233]

IANAL, but could they be trying one case at a time in order to improve the process each time?

[ira01]

IANAL, but could they be trying one case at a time in order to improve the process each time?

66 cases is going to take a mighty long time if they do them 1 at a time (and the statute of limitations will run out long before they finish).

[NPX]

My one New Agency Test loan is in Orange County, and x says their search isn't working.  Don't know if that's going to be fixed, but if/when it is, I'd be interested to know if anything's been filed on it.  The borrowers are pretty easy to find, and I'd post info on them, but I'm not sure if other peoples' PII is kosher in The Lobby.

[patio11]

If I were Prosper, I would bring out a few test cases to see how judges reacted to the whole notion of "So you bought this loan from a group of 120 private investors on the Internet?  What is the Internet?"  Then, after having ascertained that I had ready answers to the easy questions and after I had figured out which courtrooms were likely to be favorable to me, I would scale the process up like debt collectors do for default judgements against CC delinquencies. 

"Next case."  "Hiya your honor, Doug Fuller from Prosper.  Cindy Smith defaulted on a loan for $5,000.  Here's the supporting documentation, same as last week really."  "Is Ms. Smith or her representative here?"  ... "Default judgement entered against Cindy Smith for $5,000.  Next."