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Sell them NOW at the best price

15 (50%)

Keep working to get us a better price

2 (6.7%)

Undecided

1 (3.3%)

WGAF

2 (6.7%)

Don't sell--take legal action.

10 (33.3%)

Total Members Voted: 28

[mothandrust]

If there are other options, let me know and I'll add them.

[Loan_shark_74]

If there are other options, let me know and I'll add them.

Does it really matter? They are worthless either way.

[Fred93]

If there are other options, let me know and I'll add them.

Here's another option: Become much more aggressive.  Bring the end-game inside Prosper.  Take legal action.  Recover what you can recover.  Return money to the lenders.

[Loan_shark_74]

If there are other options, let me know and I'll add them.

Here's another option: Become much more aggressive.  Bring the end-game inside Prosper.  Take legal action.  Recover what you can recover.  Return money to the lenders.

I like aggressiveness. 

[mhs505]

If there are other options, let me know and I'll add them.

Here's another option: Become much more aggressive.  Bring the end-game inside Prosper.  Take legal action.  Recover what you can recover.  Return money to the lenders.

+1

[Mtnchick]

Unfortunatly they've shownen they aren't agressove in verification, collections, debt sales or lawsuits. All things a financial company should be stong in. At the very least, sell them and get us out of here

[beerbud1]

Start more lawsuits in california and other states as well

[mothandrust]

I added a "Take legal action" choice but also clarified that this poll is regarding the CURRENT BATCH of 4+ lates, not a general poll about how Prosper should handle 4+ lates.

[mhs505]

People can't change their choice though if they already voted.

[mothandrust]

And I'm too stupid to know how to make it so you can change your vote, so I just reset it back to zero. 

Sorry about that.

[ira01]

Well, 2 of my 4+ month lates are showing activity today.  One (for one regular monthly payment) may just be Prosper's attempt to pull, so it may well fail.  But the other is an OP payment of interest only (which is just over half a monthly payment), which that borrower has made for the last four months.  Considering that the rate on that loan is 24%, it is clearly much better for the lenders to continue receiving monthly interest only payments, than to receive the few cents on the dollar that would be obtained from selling the loan in a debt sale.  If Prosper were smarter and more honest, that would be exactly the kind of loan that shouldn't be sold off; yet, I'm sure it will be at the next debt sale.

[mothandrust]

I think the legal action is pie-in-the-sky.  Maybe Prosper will do one for Georgia or a few states where there are a large number of loans.

DF's choice of action is to try to get us a better price, so if you voted for anything but that you are sending him a message that you don't approve of his choice of action.

[xraider]

OK.  Here's what I think after reading Ira's post.

I have never had any daggers on my really lates after the typical pulls, and I suspect they've instructed Prosper not to try to pull from their accounts any more.

Prosper has not been pushing the lawsuits -- and Prosper was aware of its obligation to lenders before initiating suits since Prosper asked the lenders to opt in to the NAT.

The LRA requires Prosper to sell late loans at 4+.

I demand that Prosper take action on my 4+ lates.  I have no objection to Prosper offering the lenders on those loans options, and letting the majority rule, but letting the loans sit there and wither, losing value by the minute, is a breach of the LRA and therefore a breach of Prosper's duties to me.

My vote is to sell these, since there's no assurance that there will be a better price on Prosper unsecured debt at any time in the future.

[iLIE]

I think the legal action is pie-in-the-sky.

We agree again

[beerbud1]

OK.  Here's what I think after reading Ira's post.

I have never had any daggers on my really lates after the typical pulls, and I suspect they've instructed Prosper not to try to pull from their accounts any more.

Prosper has not been pushing the lawsuits -- and Prosper was aware of its obligation to lenders before initiating suits since Prosper asked the lenders to opt in to the NAT.

The LRA requires Prosper to sell late loans at 4+.

I demand that Prosper take action on my 4+ lates.  I have no objection to Prosper offering the lenders on those loans options, and letting the majority rule, but letting the loans sit there and wither, losing value by the minute, is a breach of the LRA and therefore a breach of Prosper's duties to me.

My vote is to sell these, since there's no assurance that there will be a better price on Prosper unsecured debt at any time in the future.

Law-suits are better than nothing.
Prosper I demand that you start suing my 4+ lates that have no activity on them.
By June 1st I want to know that Prosper is suing deadbeat borrowers in Georgia, Illinois, and anywhere else where it makes sense.

Do It Prosper, Quit wasting time.......