Prospers.ORG Prosper Forum

Advanced search  

News:

Welcome to Prospers.ORG!   Login here

Pages: [1] 2   Go Down

Author Topic: Are you a new lender?  (Read 9064 times)

iLIE

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 693
    • View Profile
Are you a new lender?
« on: May 10, 2008, 10:11:57 am »
Please answer where you rank the prosper loan if you were short on cash & all the bills were due.

Here are the bills

Prosper loan
House payment
food
electricity
gas
telephone
internet
cell
credit card
daycare
school activity fees
car payment
insurance
television/cable
Logged
Some people are like slinkys; they really don't have a purpose in life , but they still bring a smile to your face when you push them down the stairs.

msava

  • Hero Member
  • *****
  • Karma: +39/-9
  • Posts: 28779
    • View Profile
Re: Are you a new lender?
« Reply #1 on: May 10, 2008, 03:59:04 pm »
Quote from: iLIE on May 10, 2008, 10:11:57 am
Please answer where you rank the prosper loan if you were short on cash & all the bills were due.

Here are the bills

Prosper loan
House payment
food
electricity
gas
telephone
internet
cell
credit card
daycare
school activity fees
car payment
insurance
television/cable
Borrowers should be asked to tell this lie.
Logged
" Ten percent of what you eat feeds you, 90 percent feeds your doctor."

Mtnchick

  • Hero Member
  • *****
  • Karma: +1971/-1063
  • Posts: 34374
    • View Profile
Re: Are you a new lender?
« Reply #2 on: May 10, 2008, 04:34:14 pm »
Hey, I will freely admit that if I had a P----r loan, it would be the last one paid. That's what I've been trying to say for several months - we are AT THE BOTTOM of the "to pay" list. The penalties for not paying a P-----r loan are nil compared to anything else.
Logged
Classic comment from Urbi to a poster who said they were leaving:

"Once again, we note that your threats are hollow and you come across like a sad, lonely blowhard.

I doubt anyone here gives a shit about you.  We pretty much all know that you are a vile and unethical parasite of a human being with an abnormal craving for attention."

Senator

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 1808
    • View Profile
Re: Are you a new lender?
« Reply #3 on: May 10, 2008, 06:38:27 pm »
And that fact that the lawsuits are taking sooooo looooong won't stop anyone from taking the money and run.
Logged
Stats as of 12/29/2010:
Total withdrawals: $3,488.87 minus (-) Total deposits: $3,600.00 = ($111.13)
Cash balance: $0
Principal value of active notes:  $0
Total active notes: 0 of 70.

Successful loans are made to persons who are on a clear path to financial stability. -Mjerryfirst May 18th, 2008.

I know that when I make my 10% those "unbelievers" will call it luck cause that will be the easiest way to excuse their mistakes. -Researchpro May 5th, 2009.

It's a great time to be poor and irresponsible in America. -PPT May 2009

Beachey

  • Sr. Member
  • ****
  • Karma: +0/-0
  • Posts: 298
    • View Profile
Re: Are you a new lender?
« Reply #4 on: May 10, 2008, 07:22:25 pm »
<poof>
« Last Edit: April 20, 2009, 10:38:09 pm by Beachey »
Logged

christoofar215

  • Hero Member
  • *****
  • Karma: +1/-0
  • Posts: 8033
  • YO. LIKE MY FRO.
    • View Profile
Re: Are you a new lender?
« Reply #5 on: May 11, 2008, 06:13:59 pm »
Personally, you could classify me as one of those CB'er people who is the 11th level of Purgatory and recognizes that paying the Prosper loan helps offset the credit score, each month of perfect payment history is one little teaspoon of help to fix the damage.

That said, I would put the Prosper loan below the house payment, below the water/gas/heat, but above the luxury utilities (satellite/cable, phone, etc).   Since my revolving debt is zero I'm not having hunger pangs over it.   I've already re-sized my life around voluntary carlessness (having a car where I live is a major pain).

But that's me.


If I was one of those countless suburbanites out there who think nothing of running up debt, then I'd be paying the Prosper loan up until the point where my careless spending finally catches up and you hit that day where you realize every card in your wallet comes up DECLINED, or you run a few days a week searching the car and the house for loose change so you can rub enough nickles together to put gas in the tank to get to work.

And then to make matters worse--just stop paying the Prosper loan entirely so that frees up some money to continue spending money on crap rather than spending the 3-4 hours it takes to come up with a quick budget and plan the spending.
Logged

cowdog

  • Guest
Re: Are you a new lender?
« Reply #6 on: May 11, 2008, 07:21:44 pm »
Anyone with a derogatory CR is a fool for paying a Prosper loan.

Collections are ineffective; Prosper does nothing to defaulters. About the worst thing they have done so far is report to the CRA, but I am betting they don't continue the reporting after a short time. In any case, disputing the debt is liable to get it right off since Prosper can't even manage to devote proper time to answering telephone calls, emails, or even verification of originations. In the worst case scenario, just telling them a bk is going to be filed would be enough for them to never pursue the case again.

Now a few lawsuits have been filed, but they are only against a very select group of borrowers in a test group (ones they thought they could get something from), and Prosper had to rebuy the loans to even accomplish this feat. They won't be repurchasing other loans, nor will they continue to sue borrowers when it becomes obvious they are holding worthless judgments. The entire sue the borrower campaign is a misdirection to keep lenders at bay.
Logged

ira01

  • Hero Member
  • *****
  • Karma: +145/-10509
  • Posts: 48298
    • View Profile
Re: Are you a new lender?
« Reply #7 on: May 12, 2008, 12:44:06 am »
Quote from: cowdog on May 11, 2008, 07:21:44 pm
Anyone with a derogatory CR is a fool for paying a Prosper loan.

Collections are ineffective; Prosper does nothing to defaulters. About the worst thing they have done so far is report to the CRA, but I am betting they don't continue the reporting after a short time.

Although this may be true, eventually the loan gets sold to a JDB, whom I bet DOES report to all 3 CRA's.  And plenty of JDB's use tactics of questionable legality to harass borrowers into paying, so I doubt the borrowers get off scott free (not that any of this helps the lenders, of course).
Logged
If you're not outraged, you're not paying attention.

iLIE

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 693
    • View Profile
Re: Are you a new lender?
« Reply #8 on: May 12, 2008, 12:44:43 am »
Quote
eventually the loan gets sold to a JDB

Say's who?
Logged
Some people are like slinkys; they really don't have a purpose in life , but they still bring a smile to your face when you push them down the stairs.

hoosier500

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 1505
    • View Profile
Re: Are you a new lender?
« Reply #9 on: May 12, 2008, 01:01:28 am »
Quote from: ira01
so I doubt the borrowers get off scott free

Who's this scott dude?

Seriously - isn't it supposed to be scot-free?

http://en.wiktionary.org/wiki/scot-free

More internet cut and paste:

And contrary to popular belief, it has nothing to do with Dred Scott or the Scottish.  Sceot is the Old English for "a tax." Scot and lot was a medieval municipal tax levied on residents.  Someone who managed to avoid paying this medieval tax got off "scot free."  Eventually, the word evolved to describe getting away without any kind of punishment, fiscal or otherwise.

Oh well, maybe it's just a mute point.
Logged
Rah Rah Maconaquah!

Loan_shark_74

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 1661
    • View Profile
Re: Are you a new lender?
« Reply #10 on: May 12, 2008, 01:31:31 am »
Quote from: iLIE on May 10, 2008, 10:11:57 am
Please answer where you rank the prosper loan if you were short on cash & all the bills were due.

Here are the bills

Prosper loan
House payment
food
electricity
gas
telephone
internet
cell
credit card
daycare
school activity fees
car payment
insurance
television/cable
1. food
2. House payment
3. electricity
4. insurance
5. daycare
6. car payment
7. gas
8. credit card
9. Prosper loan
10. school activity fees
11. cell
12. internet
13. television/cable
telephone
14. Loan from Bama
Logged

GoBrowns2007

  • Full Member
  • ***
  • Karma: +0/-0
  • Posts: 158
    • View Profile
Re: Are you a new lender?
« Reply #11 on: May 12, 2008, 01:48:54 am »
Quote from: hoosier500 on May 12, 2008, 01:01:28 am
Quote from: ira01
so I doubt the borrowers get off scott free

Who's this scott dude?


Scott Free - http://en.wikipedia.org/wiki/Mister_Miracle
Logged

Xenon481

  • Hero Member
  • *****
  • Karma: +843/-87
  • Posts: 12201
  • Feeling Gassy
    • View Profile
Re: Are you a new lender?
« Reply #12 on: May 12, 2008, 08:29:56 am »
Logged

big-al

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 869
    • View Profile
Re: Are you a new lender?
« Reply #13 on: May 12, 2008, 08:46:05 am »
Logged

Cushie

  • Hero Member
  • *****
  • Karma: +4/-3
  • Posts: 9714
    • View Profile
Re: Are you a new lender?
« Reply #14 on: May 12, 2008, 09:30:45 am »
Quote from: iLIE on May 10, 2008, 10:11:57 am
Please answer where you rank the prosper loan if you were short on cash & all the bills were due.


That's actually a good question to ask.  Here's my list:

House payment
Car payment
Prosper payment
Electric
Gas (hubs travels for work)
Food (I can usually scrouge up enough pantry items to feed us)
Internet
Telephone
Credit card
Insurance
Medical bills
School stuff

(of course, the first three come out of one paycheck and the rest out of another and is pretty well budgeted, but that's my priority list)
Logged
Pages: [1] 2   Go Up
« previous next »