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[xraider]

I have a loan that is 8+ months late.  For whatever reason, it wasn't sold in December.  When is the next debt sale?

Prosper folk, I know you read here.  Please update somewhere!

Thanks!

[Loan_shark_74]

IMO, they should have one every quarter.

[ira01]

IMO, they should have one every quarter.

They said they were going to have one every quarter. 

As I've noted elsewhere, though, this time I am glad for their lateness, since one of my 4+ lates just made more than a monthly payment a couple weeks ago.  Now that he apparently finally has some money and wants to pay on his loan, Prosper will undoubtedly sell it off for pennies on the dollar, and the JDB, instead of the lenders, will reap the benefit.

[112233]

xraider, I'm sure it's mentioned in this month's quarterly update from Doug Fuller.

[mjerryfirst]

Prosper should never sell loans, because a sold loan means the lenders have lost nearly all their money

[Navy-slush-fund]

Prosper should never sell loans, because a sold loan means the lenders have lost nearly all their money

90 some percent of the time they have lost anyways.....for tax purposes a sale means you can legally claim the loss...

[mhs505]

For the pennies on the dollar we get, I would rather they wait.  YMMV.

 

[xraider]

MJerry, if a loan hasn't paid in 8 months, what's the point in hanging on to it?

MHS, how long do you think Prosper should wait?  Since my 8+ should have been sold LAST year, waiting until the end of this tax year doesn't do much for me. 

Prosper:  This is turning into a serious TOS violation.  You're my fiduciary.  Please advise when the next debt sale will take place.

[112233]

For the pennies on the dollar we get, I would rather they wait.  YMMV.

 

I think some people are looking for the tax advantages

[zcommodore]

xraider, I'm sure it's mentioned in this month's quarterly update from Doug Fuller.

You mean this one?

[112233]

xraider, I'm sure it's mentioned in this month's quarterly update from Doug Fuller.

You mean this one?

lol yeah that one ..

[Roadhawk]

I tried searching in the old forums but got a server error. 

I thought I remembered though that they had said they sometimes would not be able to do the sales on a specific time-frame and instead had to wait until they had enough to make the sale salable.  With Amsher coming on board since the last sale, I would guess that they took out several of the 4+ that would normally have been in the pool to sell to see what Amsher could do about them first.

[Loan_shark_74]

Yeah, maybe they are giving Amsher some time to try and get some of the 4+ loans current.

[mhs505]

For the pennies on the dollar we get, I would rather they wait.  YMMV.

 

I think some people are looking for the tax advantages

And anytime on or before 12.31.08 would do that.

[zcommodore]

Yeah, maybe they are giving Amsher some time to try and get some of the 4+ loans current.

If you read the blog post I linked above, they're doing just that.