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[xode]

xode, Prosper itself asked that the suit be dismissed.

Is this new information that you have?  Your previous posts didn't reference this at all.  If that is the case, then the question becomes: why did Prosper ask for the case to be dismissed?  In any event, it is good news in that the frdlnt^* court didn't get this chance to dump on Prosper and us lenders.  But, we really do have to know why Prosper asked for this dismissal.

^* Pejorative adjective disemvoweled.

[Fred93]

xode, Prosper itself asked that the suit be dismissed.

...If that is the case, then the question becomes: why did Prosper ask for the case to be dismissed?

I have sent an email to Prosper lender support asking "What happened?"

[xode]

(even though Prosper has every borrower fill out a physical postcard to verify their address and identity)

This is not true.  Since I made a listing, I received one of these postcards.  There is nothing to fill out and send back, there is merely a code on it that you have to put into a form on the website.

Same difference.  It is still a physical postcard that the borrower still has to physically read a code from and physically input into the site, meaning that Prosper has proven physical communication with the borrower.  However, this does give the frdlnt^* court more of an excuse to dump on Prosper, since this is a more abstract process and the frdlnt^* court can exploit that.  Online credit card transactions go through everyday and they have even less physical contact between the people involved than even this Prosper and borrower contact that you have referenced here, and those transaction are still recognized as valid.  Therefore, if the frdlnt^* court were to claim that Prosper's loans are not valid, it would be engaging in selective enforcement of the law and selective prosecution, no doubt in favor of parasitic degenerates (for about the nⁿth time).


^* Pejorative adjective disemvoweled.

[xode]

xode, Prosper itself asked that the suit be dismissed.

...If that is the case, then the question becomes: why did Prosper ask for the case to be dismissed?

I have sent an email to Prosper lender support asking "What happened?"

Thanks.  I think that I might even call the lender line as well to ask what happened.

[xraider]

Xode, in Los Angeles, where I practice and where this case was filed, cases get dismissed without prejudice in one of two ways, when the plaintiff (here Prosper) submits a request for dismissal without prejudice, or if plaintiff fails to appear at a status conference, then fails again to appear at an order to show cause hearing.  Typically, in limited civil cases in Los Angeles are on the slow track.  

Since the case was dismissed less than a month after the proof of service was filed, and no hearing dates had been set, I'm completely confident that Prosper requested the dismissal.

I agree that the question is, why?  

[SGriff]

(even though Prosper has every borrower fill out a physical postcard to verify their address and identity)

This is not true.  Since I made a listing, I received one of these postcards.  There is nothing to fill out and send back, there is merely a code on it that you have to put into a form on the website.

I never got one of those postcards.

[Senator]

I never got one of those postcards.

Me either, but then again, I don't have a Prosper loan.

Can we, as lenders, dispute our transfers into Prosper to try to get some of our money back? 

[SGriff]

  A subpoena should cost no more than a couple of hundred dollars.

Then that would make sense why the online PDL's are dying en masse - the max loan is $500 - if it costs them $200-300 just to subpeona the bank records, never mind filing fees, attorney's fees, service expenses, it just isn't worth it for them to try and sue.

Perhaps on the higher end loans ($10K+) Prosper has a shot at profit margin, but I'd say anything $3000 and under they're running into the same issue...

[xraider]

@ Senator 

[HollowOak]

The Lobby is not a place for non-Prosper related agendas. Should any person use their ability to post in the Lobby use it as an opportunity to convey a message related to a different agenda, such messages will be swiftly removed.  This include labeling US institutions with adjectives that are not usually associated with those institutions.

[SGriff]

I never got one of those postcards.

Me either, but then again, I don't have a Prosper loan.

You apparently didn't notice me saying "you lenders" - I do have a prosper loan - $1k, took it out 11/06. Proud to say, it's been 19 on-time payments with narry a hitch, even when I had to change my bank account early in the life of the loan due to AFLAC trying to initiate withdrawals after I cancelled my policies.

Point being, not every borrower got a postcard.

[Xenon481]

(even though Prosper has every borrower fill out a physical postcard to verify their address and identity)

This is not true.  Since I made a listing, I received one of these postcards.  There is nothing to fill out and send back, there is merely a code on it that you have to put into a form on the website.

I never got one of those postcards.

I'm not sure when this postcard scheme was implemented, but I think it was after Doug Fuller came on.

[xraider]

SGriff, that's exactly why I said Prosper has to invest the resources into prosecuting these cases.  Prosper has to be prepared to litigate the cases instead of, like Brave Sir Robin, turning tail and fleeing (to paraphrase poorly).

If Prosper won't enforce our rights, it shouldn't sue on them.  

[SGriff]

SGriff, that's exactly why I said Prosper has to invest the resources into prosecuting these cases.  Prosper has to be prepared to litigate the cases instead of, like Brave Sir Robin, turning tail and fleeing (to paraphrase poorly).

If Prosper won't enforce our rights, it shouldn't sue on them.  

Did anyone really believe that these "test cases" would be anything more than saber-rattling?

[xraider]

Silly me.  I thought Prosper would not go to the trouble of retaining counsel and paying filing fees if it didn't intend to prosecute these cases.