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[LoanChimp]

I guess this is for Bama / iLie and anyone else interested. I had 3 loans flip to "late" status this month (from <15 days late") without a 10 day pull. These were the only loans I had in <15 day status.

It's interesting that all of them did not have the pull made.

I am just throwing this out there, but I think Prosper might be trying the "late pulls on the 15th and 30th" trick again this month.

We'll find out what happens over the next few days. If I see daggers on all 3 at the same time around the end of the month, it would only reinforce my suspicion...

[Senator]

Either that or they broke their software during the last upgrade. 

[iLIE]

Good luck with that..Maybe PMI is using a new collections tactic

http://en.wikipedia.org/wiki/Salvia_divinorum

[LoanChimp]

As far as I can tell, this tactic was used once late last year as an experiment, with improved results, as reported by Doug Fuller in the Prosper Days 08 Collections Panel. Video is somewhere.

Also, as far as I can tell, this tactic hasn't been used since. But these 3 lates have raise my suspicions that it is in effect again this month...

[Mark12547]

I am just throwing this out there, but I think Prosper might be trying the "late pulls on the 15th and 30th" trick again this month.

That's better than another reason for no automatic pull: authorization for the pull had been removed or the bank account had been closed.

[112233]

As far as I can tell, this tactic was used once late last year as an experiment, with improved results, as reported by Doug Fuller in the Prosper Days 08 Collections Panel. Video is somewhere.

Also, as far as I can tell, this tactic hasn't been used since. But these 3 lates have raise my suspicions that it is in effect again this month...

so they went through the effort of having an experiment which resulted in finding something that works, but then decided to stay with the status quo?

[LoanChimp]

As far as I can tell, this tactic was used once late last year as an experiment, with improved results, as reported by Doug Fuller in the Prosper Days 08 Collections Panel. Video is somewhere.

Also, as far as I can tell, this tactic hasn't been used since. But these 3 lates have raise my suspicions that it is in effect again this month...

so they went through the effort of having an experiment which resulted in finding something that works, but then decided to stay with the status quo?

recent 3 lates not included, that (to me) has appeared to be the case...

[ira01]

As far as I can tell, this tactic was used once late last year as an experiment, with improved results, as reported by Doug Fuller in the Prosper Days 08 Collections Panel. Video is somewhere.

Also, as far as I can tell, this tactic hasn't been used since. But these 3 lates have raise my suspicions that it is in effect again this month...

so they went through the effort of having an experiment which resulted in finding something that works, but then decided to stay with the status quo?

Given the wide variation in pay schedules reported in Mark's various polls, I wonder just how "improved" the results really were.  If Prosper were really smart, they would record each borrower's payday from the check stub submitted during PFV to use if the borrower missed a payment.  That would probably work a lot better than assuming the borrower gets paid on the 15th and last day of the month, or whatever it is that Prosper assumes.

[christoofar215]

As far as I can tell, this tactic was used once late last year as an experiment, with improved results, as reported by Doug Fuller in the Prosper Days 08 Collections Panel. Video is somewhere.

Also, as far as I can tell, this tactic hasn't been used since. But these 3 lates have raise my suspicions that it is in effect again this month...

so they went through the effort of having an experiment which resulted in finding something that works, but then decided to stay with the status quo?

Given the wide variation in pay schedules reported in Mark's various polls, I wonder just how "improved" the results really were.  If Prosper were really smart, they would record each borrower's payday from the check stub submitted during PFV to use if the borrower missed a payment.  That would probably work a lot better than assuming the borrower gets paid on the 15th and last day of the month, or whatever it is that Prosper assumes.

ira they're not even asking for pay stubs.   My credit repair loan; all they did was setup a johnny-on-the-spot 3-way call with my bank.

I called my HR dept and they've never heard of Prosper and I was having drinks with the head HR girl from California last night--neither her or the other two HR girls [that's the whole HR dept, just 3 people] ever got a call from Prosper.    They never emailed or called me to ask for my paystubs, tax returns or W-2s.

I know these are unsecured signature loans; but a bank won't setup a signature loan without this level of verification unless the people at the bank really know you very well.

[beerbud1]

I have 3 2-monthers and 2 3-monthers showing double daggers this morning. Maybe loan chimp is right.

[Oak_Hill_Fire]

Hey! I have a double dagger on one of my 2 month lates.  The only dagger of any type I've ever seen past "late." I'm not going to hold out any great amount of hope yet.

[MsTabbyKats]

Two of my "3 months late" have double daggers
I just hope the borrowers don't find out 

Even if the payment goes thru...after they take out the late fees etc...we probably will see $0.  And it's not like the borrower is going to suddenly start paying regularly...so it's really not such a big deal.

[Senator]

I've got 2 4+m, 2 2m, 2 L, 1 L(<15), but no daggers what so ever.

[NewHorizon]

I'm seeing a dagger combo on my 1 month late.
They did a pay cycle pull on this same loan on 11/30/07.
There've been 3 payments since then - which was keeping the loan current.
But the last payment was 2/12/08.

Today's pull is only a standard payment, however.
So it won't bring the loan current like the 11/30/07 pull did.

[Chamatrain]

I have 5 double daggers on loans from 2-7 months late.  Gotta admit, that "appears" to be an improvement.  Couple more days will tell if it's for real.