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Author Topic: Which is it; payoff in progress or 15+ late?  (Read 5023 times)

xraider

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Which is it; payoff in progress or 15+ late?
« on: July 02, 2010, 06:56:51 am »

The last payment was due on loan 15941/listing 145121 on June 12.  The borrower shut off the automatic payment option.  She made a manual payment on June 21, which failed two days later.  Even though it failed, for the past 10 days Prosper has listed this as "payoff in progress."

I emailed Prosper about this several days ago, with no response.

So, my current Prosper score is 3 current, 1 late (which is REALLY a payoff in progress because the only thing that's "late" is the extra $.02 that Prosper seems to take a week to catch), 1 60+ late and 1 "payoff in progress" which is really 15+ late.

On the plus side, after almost three years, I'm finally up almost $8 on this stellar experience.

Go Prosper!
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NPX

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Re: Which is it; payoff in progress or 15+ late?
« Reply #1 on: July 02, 2010, 07:16:25 am »

It really amazes me that, now two months after the big upgrade, they haven't worked out some of what appear to be rudimentary bugs.  As you note, for loans that should be making their final payment, that final automatic pull seems now only to be pulling the remaining principal on the loan, leaving a smattering of pennies (the final month's interest) to be taken care of a week or two later.  So each loan passes through a brief purgatory in <15d late status before finally reaching the nirvana of payoff in progress.

Not even going to touch the issue with the not-really-payoff-in-progress loan (I'm on that one, too).
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cowdiddly

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Re: Which is it; payoff in progress or 15+ late?
« Reply #2 on: July 02, 2010, 08:17:43 am »

I now have four loans that are Late but they are in fact processing the final payments. None of the loans have ever been late so I assume its another stall tactic by Prosper. Its already taking 10 days to receive payments. Money is due on all but 3 of my 16 remaining loans.Getting your payments is starting to be like pulling teeth. Prosper, I cannot express the amount of love I feel for you these days.

SCI

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Re: Which is it; payoff in progress or 15+ late?
« Reply #3 on: July 02, 2010, 10:13:04 am »

I have 2 Lates, both are $0.01...
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TotoMMB

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Re: Which is it; payoff in progress or 15+ late?
« Reply #4 on: July 02, 2010, 03:24:33 pm »

I have a payment like this, although it's not final...which leads me to be believe Prosper hasn't figured out where its ass ends and its head begins. On my loan, the payment was due on the 27th. On the 28th, the account status changed to "Late <15", but the payment still shows as processing. I'm assuming the payment side of Prosper knows the payment failed, but the account side (payment detail) hasn't quite heard the news. On another loan, the opposite happened in my favor...the payment showed as "processing" until 2 or 3 days AFTER the amount was credited to my account.

I'd say we're on about Day 50 of this crap. Again, they did very few things right before, and now they have managed to screw those up.
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TotoMMB

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Re: Which is it; payoff in progress or 15+ late?
« Reply #5 on: July 02, 2010, 06:10:20 pm »

I have a payment like this, although it's not final...which leads me to be believe Prosper hasn't figured out where its ass ends and its head begins. On my loan, the payment was due on the 27th. On the 28th, the account status changed to "Late <15", but the payment still shows as processing. I'm assuming the payment side of Prosper knows the payment failed, but the account side (payment detail) hasn't quite heard the news.

Turns out, I was wrong, but Propser isn't acquitted of anything...My payment from the 27th has now cleared, apparently never went late, but status still shows as such. And if it turns out this payment really doesn't exist, that's too bad for Prosper, as I've already withdrawn it. So they can give me a negative balance, or wait, or whatever.
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xraider

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Re: Which is it; payoff in progress or 15+ late?
« Reply #6 on: July 15, 2010, 08:30:55 am »

Still says payoff in progress and now 30+ late.  Not that it matters, since Prosper isn't reporting its statistics any more, but still.

So, I now have two heading toward default with all payments but one made.  Further proof that no loan on Prosper is ever safe.
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pioneer11

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Re: Which is it; payoff in progress or 15+ late?
« Reply #7 on: July 15, 2010, 09:40:28 am »

Lobby!
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searaylover

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Re: Which is it; payoff in progress or 15+ late?
« Reply #8 on: July 15, 2010, 09:57:27 am »

Second for the Lobby.
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xraider

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Re: Which is it; payoff in progress or 15+ late?
« Reply #9 on: July 21, 2010, 07:03:12 am »

The latest:  The loan STILL shows payoff in progress.  I emailed Prosper again over the weekend asking that they fix this.

The borrower emailed me over the weekend, too, telling me that she has provided Prosper with new bank account information but Prosper hasn't updated it yet. 

I wonder if Prosper can't get past the fact that the status is payoff in process so there's no need to do anything more?
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