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[kaimuki]

I woke up this morning and have two new charge-offs and 12 lates at differing degrees.

[Urbi_et_Orbi]

CS response "Rules is Rules"

Yes, the people at Prosper are sticklers for following rules.   

Still no messages regarding any of my charge-offs.

[bamalucky]

Charged off is still showing as late on lendingstats.

I think they should be moved to defaulted or a new category

[pjz]

Unless Prosper is going to list charge offs on the 1099 form, what is the difference between a charge off and a late loan from a lenders perspective?

Charged off is still showing as late on lendingstats.

I think they should be moved to defaulted or a new category

[bamalucky]

It misleads new lenders.

Using your logic,why not just move the defaults back to late?

[pjz]

Lates can still pay toward their loans but defaults cannot.
Both lates and charge offs can still pay towards the loan.
So what is the difference? Only that the borrower will no longer get credit for paying off a charge off. That does not help anyone. At least on the default the lender can deduct the loss.

It misleads new lenders.

Using your logic,why not just move the defaults back to late?

[bamalucky]

You think my Ch 7 BK that is now labeled as charged off is gonna be making any payments?

Wanna buy it?

ETA

Collection activity on this loan has been suspended due to Chapter 7 bankruptcy filing by the borrower on Mar-19-2008. Read Prosper's bankruptcy policy.

[pjz]

Prosper stated that they are not charging off BK loans but I see that they are. I agree that your loan in particular may not pay but I am willing to bet that at least one out of a thousand charged off loans would have at least made one payment in the next few years. 

Is the only advantage of the charge offs is to make it more clear to prospective lenders that a charge off is worse than a 4+ month late?

You think my Ch 7 BK that is now labeled as charged off is gonna be making any payments?

Wanna buy it?

[bamalucky]

The more information lenders have,the better rates you guys will get.I don't know why the "i love prosper" folks don't realize this.

[ira01]

It misleads new lenders.

Using your logic,why not just move the defaults back to late?

Prosper's decision to lump "defaults" and "charge-offs" together on its site was stupid.  These are two completely different things.  Prosper should count all of the loans that were sold to JDB's, and all Chapter 7 BKs, as "defaults," and report them separately from the "charge-offs."  Chapter 13 BKs could probably be reported with the charge-offs.

[Capital_Finance_Group]

Not only have I still not received an email, I received an email apologizing for sending one email per charge off (they were there in my messages on P-----r) and not just one combining them all.

I didn't even get the apology.   

I got one - I did not care.

[beerbud1]

I wake up this morning and have another new charge-off. After the last round all of my 4+'s were Bankruptcies. The're all still there, so this was a 3 monther that went straight to charge off.

[ira01]

I wake up this morning and have another new charge-off. After the last round all of my 4+'s were Bankruptcies. The're all still there, so this was a 3 monther that went straight to charge off.

Yeah, it looks like Prosper has abolished the 4+late category, and loans go right into charge-off after being in 3-months late for a month.

[BrassKnuckles]

prosper blows

(wow, I am getting tired of this reply, but anytime it works, I am using it)

later