Prospers.ORG Prosper Forum

Advanced search  

News:

Welcome to Prospers.ORG!   Login here

Pages: 1 [2] 3 4 ... 8   Go Down

Author Topic: Bankruptcy update  (Read 107227 times)

112233

  • Hero Member
  • *****
  • Karma: +4311/-5069
  • Posts: 28168
    • View Profile
    • Prosper Report
Re: Bankruptcy update
« Reply #15 on: January 12, 2011, 12:25:56 pm »

Ill reserve judgement for just a bit longer until someone reports on a executed action promised in this exchange.
Logged
If you're not outraged, you're not paying attention.

you're

Mtnchick

  • Hero Member
  • *****
  • Karma: +1969/-1062
  • Posts: 34374
    • View Profile
Re: Bankruptcy update
« Reply #16 on: January 12, 2011, 12:31:08 pm »

Quote
Per the following link, Prosper has apparently missed filing at the appropriate time the correct paperwork for a borrower filing Chapter 13 bankruptcy.

http://www.prospers.org/forum/bankruptcy_update-t22912.0.html

In the following accounts I was a lender and the status states collection attempts were suspended because of Chapter 13 bankruptcy but no followup (or payment) in several years. Please review them and let me know the status of Prosper filing as a creditor.

Loan #8098
Loan #5212
Loan #2139
Loan #1874
Loan #1549
Loan #899

The following 2 accounts show Chapter 7 filed, but no discharge date. Again, no updates in several years:

Loan #6924
Loan #1487

Thank you.
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."

Fred93

  • Hero Member
  • *****
  • Karma: +1/-1
  • Posts: 3914
    • View Profile
Re: Bankruptcy update
« Reply #17 on: January 12, 2011, 12:37:27 pm »

It is great that prosper has finally started communicating with lenders about old bk13's.  This subject has been discussed on .org on and off for a couple of years now.

I have 213 charged off notes.  Is there an easy way to go thru them, or am I going to have to pull the pages up one by one and read thru the details?   Seems burdensome.

I do have a spreadsheet where I've (usually) noted bk's.  Maybe I can use that to limit the work.

Mtnchick

  • Hero Member
  • *****
  • Karma: +1969/-1062
  • Posts: 34374
    • View Profile
Re: Bankruptcy update
« Reply #18 on: January 12, 2011, 12:39:43 pm »

It is great that prosper has finally started communicating with lenders about old bk13's.  This subject has been discussed on .org on and off for a couple of years now.

I have 213 charged off notes.  Is there an easy way to go thru them, or am I going to have to pull the pages up one by one and read thru the details?   Seems burdensome.

I do have a spreadsheet where I've (usually) noted bk's.  Maybe I can use that to limit the work.

That's what I did - and yes, it was. Took about an hour.
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."

God-Father

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 3189
  • Pay up!
    • View Profile
Re: Bankruptcy update
« Reply #19 on: January 12, 2011, 06:15:28 pm »

It is great that prosper has finally started communicating with lenders about old bk13's.  This subject has been discussed on .org on and off for a couple of years now.

I have 213 charged off notes.  Is there an easy way to go thru them, or am I going to have to pull the pages up one by one and read thru the details?   Seems burdensome.

I do have a spreadsheet where I've (usually) noted bk's.  Maybe I can use that to limit the work.

Click on the defaulted loans on investment page and sort by status descending.  That gets you the BKs to the top. 
Logged

onthefence

  • Hero Member
  • *****
  • Karma: +0/-3
  • Posts: 5736
    • View Profile
Re: Bankruptcy update
« Reply #20 on: January 13, 2011, 12:35:51 pm »

As we have always suspected, Prosper wasn't properly doing the paperwork on Bankruptcies and it has cost lenders many thousands of dollars! It is now Prosper's fiduciary duty to do a proactive review of ALL bankruptcies to see if they messed up any others.
Personally, I am shocked to hear they Prosper did anything with the bankruptcy.  Even a late filing is surprising to me.  I thought that they were letting these drop because they had very little short term financial incentive to follow up on these cases.
Logged
Lobby permission granted

Urbi_et_Orbi

  • Hero Member
  • *****
  • Karma: +194/-115
  • Posts: 9354
  • "Lock Him Up" - Suspended Since 9/3/2009
    • View Profile
Re: Bankruptcy update
« Reply #21 on: January 13, 2011, 01:10:48 pm »

As we have always suspected, Prosper wasn't properly doing the paperwork on Bankruptcies and it has cost lenders many thousands of dollars! It is now Prosper's fiduciary duty to do a proactive review of ALL bankruptcies to see if they messed up any others.
Personally, I am shocked to hear they Prosper did anything with the bankruptcy.  Even a late filing is surprising to me.  I thought that they were letting these drop because they had very little short term financial incentive to follow up on these cases.

A late filing is pretty incompatible with the public statements of Mr. Doug Fuller - and it appears the late filing had a direct and negative impact on the lenders.
Logged
Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

nonattender

  • Hero Member
  • *****
  • Karma: +1/-1
  • Posts: 1348
    • View Profile
Re: Bankruptcy update
« Reply #22 on: January 13, 2011, 02:04:25 pm »

Logged
Nothing that I ever say is "professional advice" - principally, because I suffer from an infinitely inescapable prinicipal/agent problem, in that I am, in principle, always acting as my own agent.

Peer-to-Peer Lending & Personal Loan Information

ira01

  • Hero Member
  • *****
  • Karma: +143/-10194
  • Posts: 48102
    • View Profile
Re: Bankruptcy update
« Reply #23 on: January 13, 2011, 10:12:06 pm »

I have three Ch.13 BK's -- not one has made a single payment:
Loan 18252  Listing 185107  filed 1/11/10
Loan 15955  Listing 143499  filed 4/19/10
Loan 13217  Listing 118349  filed 9/8/08   >:(

I also have two Ch. 7 BK's filed long ago with no discharge yet:
Loan 16015  Listing 148555  filed 2/27/10
Loan 13033  Listing 115947  filed 8/21/09

I wonder how many of these Prosper has screwed up?  Time to email Prosper in an effort to find out (I'm sure Prosper will be overjoyed to hear from me  :ninja:).  

ETA:  I just emailed Prosper.  We'll see what they say. 

Well, after almost two business days -- no response yet.   >:(

Quote
Also, +2 (or whatever) on Lobby -- this thread is 100% Lobby-worthy.

How come this thread isn't in the Lobby yet?  It is clearly Lobby-worthy, and there has been no opposition.
Logged
If you're not outraged, you're not paying attention.

God-Father

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 3189
  • Pay up!
    • View Profile
Re: Bankruptcy update
« Reply #24 on: January 13, 2011, 10:35:41 pm »

How come this thread isn't in the Lobby yet?  It is clearly Lobby-worthy, and there has been no opposition.

It is hard to get good help.   ;)
Logged

Cushie

  • Hero Member
  • *****
  • Karma: +4/-3
  • Posts: 9714
    • View Profile
Re: Bankruptcy update
« Reply #25 on: January 14, 2011, 10:00:05 am »

How come this thread isn't in the Lobby yet?  It is clearly Lobby-worthy, and there has been no opposition.

It is hard to get good help.   ;)

Sorry about that - I was iced in for two days and then worked most of yesterday and didn't get online but for a brief moment.  If, in the future, you all want something in the lobby and it's not moving, hit the Report to moderator button where we'll all see it.  Or do as one person did and send me a PM.

Again, sorry guys.
Logged

ira01

  • Hero Member
  • *****
  • Karma: +143/-10194
  • Posts: 48102
    • View Profile
Re: Bankruptcy update
« Reply #26 on: January 14, 2011, 10:55:26 am »

How come this thread isn't in the Lobby yet?  It is clearly Lobby-worthy, and there has been no opposition.

It is hard to get good help.   ;)

Sorry about that - I was iced in for two days and then worked most of yesterday and didn't get online but for a brief moment.  If, in the future, you all want something in the lobby and it's not moving, hit the Report to moderator button where we'll all see it.  Or do as one person did and send me a PM.

Again, sorry guys.

Eh, what do we want for free?   ;D  Seriously, you guys do a great job, and we don't expect you to be here 24/7. 
Logged
If you're not outraged, you're not paying attention.

Senator

  • Hero Member
  • *****
  • Karma: +0/-0
  • Posts: 1808
    • View Profile
Re: Bankruptcy update
« Reply #27 on: January 14, 2011, 11:46:48 am »

In addition, Prosper owes the lenders on xraider's loan interest on that 31 months of back payments.  And since Prosper loves to advertise its supposed 10.4% returns, that should be the interest rate Prosper uses in calculating the amount of interest to pay lenders.   :ninja:

They've lowered their advertised returns

Quote
Our actual lender returns continue to be best in class at 10.1%* and our loss performance continues to be better than expectations.

Also, I sent a similar message to prosper about loan #383.
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

Faithful_Steward1

  • Full Member
  • ***
  • Karma: +0/-0
  • Posts: 119
    • View Profile
Re: Bankruptcy update
« Reply #28 on: January 18, 2011, 06:25:21 pm »

Hi guys, I had asked prosper about a few bankruptcies before and was told certain info (which chapter etc). Not that I don't believe prosper, but how can I check the chapter of the bk and get other info on the loan independently of asking prosper. I have seen posts about a certain loan being in chapter 13 or 7, but how can we confirm this? Is this in a database somewhere?
Logged

xraider

  • Hero Member
  • *****
  • Karma: +1/-0
  • Posts: 6805
    • View Profile
Re: Bankruptcy update
« Reply #29 on: January 18, 2011, 06:54:11 pm »

There is a database, PACER, but it's useless without the debtor's name.  I was forced to email Prosper because there's no other source of information.

FWIW, Prosper still hasn't posted the past due amount on my loan.  I guess they're too busy investigating the other stale bankruptcies.
Logged
Prosper missed me.  They lifted my suspension a day early.
Pages: 1 [2] 3 4 ... 8   Go Up