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[xraider]

With Ira.  These suits are public records, and it's very easy to check status.  Why these suits are idle is beyond me.

Also with MHS -- while I'm not happy with the results to date, I'm very happy that Doug is trying things, and even happier that he provides updates.  Thanks, Doug!

[112233]

With Ira.  These suits are public records, and it's very easy to check status.  Why these suits are idle is beyond me.

Also with MHS -- while I'm not happy with the results to date, I'm very happy that Doug is trying things, and even happier that he provides updates.  Thanks, Doug!

+1

it's one issue to have things fail and be ignored. it's entirely different issue to have things fail but know management is taking tangible steps to correct the situation, and at the same time let the community know what's going on.

[yankeefan]

RL allowed this comment through moderation

Yankeefan | May 22nd, 2008 at 11:29 am
Doug-
A couple of Mondays and Tuesdays have come and gone, along with a few other days. Any update on loan sales yet?

[mothandrust]

Lobby poll results from the dot-org site: Sell the 4+ lates NOW(50%); Try to get a better price(6.7%); Pursue legal action (33.3%); Undecided/Other(10%).

This comment is awaiting moderation to DF's blog.

[yankeefan]

DOug updated tonight.

[ira01]

DOug updated tonight.

http://www.prospers.org/forum/shouldnt_we_have_had_an_update_from_doug_fuller_by_now-t7466.0.html;msg117515#msg117515

[Mtnchick]

They are tripping all over themselves over there trying to make this make any sort of sense. Chrisfs doesn't understand that companies survive by making profits: "They generously offer to settle for 30-50 cents on the dollar, since they bought it for less than 1 cent of the dollar, it’s not clear why they do that." and doesn't understand what lenders have been asking for: "Right now they are moving the loan to a charge-off status, which in effect values them as worthless and allows a write-off while at the same time allows them to continue to make collection attempts.

Which is basically what a bunch of people have been asking for." 

And Rateladder just copies and pastes for no apparent reason.

P-----r really should appoint actual principles of the company to answer these questions.

[PPT]

At least they're suing people.  Many creditors don't even attempt it and just sell off the debts and then they fade away never to be collected.  If more lenders sued, we'd probably have less deadbeats trying to game lenders.

[ira01]

At least they're suing people. 

Sort of -- as of a few weeks ago, proofs of service had been filed in only a small number of the cases, and nothing further had happened in any case.

[xraider]

PPT, as Ira says, suits only count if they're served and prosecuted.  Since only two of the suits have been served, at least as of the last time I checked, I can't say that I'd trust Prosper with the new charge off proposal.