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[xraider]

The following loans of mine are 30+ late.

I would appreciate very specific updates, as follows:

Loan 16494 is late, and in collections.  What has AmSher done to collect on it?

Loan 7107 is late, and says it is in bankruptcy.  What chapter?  If anything other than a 7, what is Prosper doing to make sure I'm getting repaid?  Has Prosper verified the bankruptcy?  I did a federal docket search and see no sign that this borrower has filed for bankruptcy.

Loan 9557 is 6+ months late.  Can you please let me know with specificity what AmSher is doing with this loan?  Since there hasn't been a single payment on this since it went late, I would bet that AmSher has not been successful with it.  Could you please let me know what success, if any, AmSher has had?  Is there an open promise to pay?  When will it be sold?

Loan 6840 is almost 9 months late.  Again, what is AmSher doing with this loan, how successful has it been, and when will the loan be sold?

Thank you!

[SGriff]

I did a federal docket search and see no sign that this borrower has filed for bankruptcy.

As soon as someone contracts with an attorney to begin the filing process, the attorney's office, as a matter of courtesy, allows them to refer all collection agents to the attorney. This courtesy is extended even before the full filing fee has been paid - and no attorney will do the actual filing until their fee is paid up front (otherwise, the client could just add them to the bankruptcy papers)

[xraider]

If bankruptcy has NOT been filed, why would Prosper show the bankruptcy as being filed?  Doug, can you explain that, too?

[NewHorizon]

Well many loans are virtually in default (while we wait for the sale) but not shown as defaulted.
So it all evens out.   
(Sorry, couldn't resist.)

[cowdog]

If bankruptcy has NOT been filed, why would Prosper show the bankruptcy as being filed?  Doug, can you explain that, too?

I seriously doubt Doug will answer, so I'll provide the answer...

Borrower who can't pay calls and says they are declaring bk. Guess what? Prosper doesn't verify as this would mean using their limited resources, and so the loan is moved to bk status.

Here's another one... borrower registers dispute with the credit reporting agency, Prosper can't be bothered to verify it and so it comes off their report.

Prosper's limited resources means they won't answer the phone, respond to emails, affirm disputed loans, properly verify originations, or provide a couch.

 

[Xenon481]

If bankruptcy has NOT been filed, why would Prosper show the bankruptcy as being filed?  Doug, can you explain that, too?

Maybe because a borrower got ahold of a family member's letterhead and sent in a CB form letter telling PMI about a non-existent bankruptcy?

[GoBrowns2007]

Collections from just about anyone stop as soon as a debtor notifies the creditor of the intention to file BK and provides an attorney's information. At this point, most creditors, not just Prosper, would flag the account BK and wait for the official paperwork. If the BK filing doesn't happen, they'll contact the attorney for a status update. Only when the attorney tells them the BK is off will they go back to the debtor.

[bamalucky]

If i were a lawyer in California I believe i could get answers.

[xraider]

bama, I can certainly get answers.  Asking is the first step toward getting an answer.  I'll try this first, and see what response, if any, I get.  I do intend to get complete answers to my questions, though.

[bamalucky]

bama, I can certainly get answers.  Asking is the first step toward getting an answer.  I'll try this first, and see what response, if any, I get.  I do intend to get complete answers to my questions, though.

You asked weeks ago in lender verified & said you would send a letter then.Did you ever get a response before.

[xraider]

I accepted Doug Fuller's blog post as a response to my last question.

Now I'm asking more specific questions.

[bamalucky]

You think posting it here or sending an email is gonna get you any answers?

[beerbud1]

You think posting it here or sending an email is gonna get you any answers?

Yes She does! He (DoFu) Knows she's an attorney. He knows she's a determined individual and he knows several us are unhappy. As you know We didn't come here (Prosper Marketplace, Inc.) to lose money, or to be cheated out of Our money. although He may not answer here, he may write about it in their Blog. Is that so hard for you to understand? Duh

[Nora_Lenderbee]

You think posting it here or sending an email is gonna get you any answers?

Yes She does! He (DoFu) Knows she's an attorney. He knows she's a determined individual and he knows several us are unhappy. As you know We didn't come here (Prosper Marketplace, Inc.) to lose money, or to be cheated out of Our money. although He may not answer here, he may write about it in their Blog. Is that so hard for you to understand? Duh

Did Doug, xraider, and the rest of Us get elevated to deities?

[beerbud1]

You think posting it here or sending an email is gonna get you any answers?

Yes She does! He (DoFu) Knows she's an attorney. He knows she's a determined individual and he knows several us are unhappy. As you know We didn't come here (Prosper Marketplace, Inc.) to lose money, or to be cheated out of Our money. although He may not answer here, he may write about it in their Blog. Is that so hard for you to understand? Duh

Did Doug, xraider, and the rest of Us get elevated to deities?

Yes!

A deity is a postulated preternatural or supernatural being, who is always of significant power, worshipped, thought holy, divine, or sacred, held in high regard, or respected by human beings