This is part of my ongoing series monitoring collections efficiency (February’s report for comparison). For a reminder on the methodology, I took a snapshot of all of Prosper’s loans on March 3 (yes, I’m a doofus and missed March 1) and compared their …
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March Prosper.com Collections Update
April 8th, 2008 — , Prosper collections report, collections, legal from Mike @ Prosperous Land
March Prosper.com Collections Update
April 8th, 2008 — , Prosper collections report, collections, legal from Mike @ Prosperous Land
This is part of my ongoing series monitoring collections efficiency (February’s report for comparison). For a reminder on the methodology, I took a snapshot of all of Prosper’s loans on March 3 (yes, I’m a doofus and missed March 1) and compared their …
Related StoresColor Me Stunned
January 16th, 2008 — collections, legal from Mike @ Prosperous Land
RateLadder posted late last night that Prosper has been e-mailing lenders regarding their new foray into collections via legal judgments. They have provided a process by which lenders may opt-in to the legal proceedings.
The purpose of this email is t…
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January 6th, 2008 — collections, legal, linkfest from Mike @ Prosperous Land
Why is it that all kinds of news start happening when I’m having to scrounge around for both time and a wireless connection (and CES starts tomorrow - it was nice having all this free time). So, I’m gonna knock this out and go have breakfast.
Prosper …
Related StoresProsper Approaching Nuclear War
December 30th, 2007 — Funny, community warfare, legal from Mike @ Prosperous Land
Lawsuits are like nuclear weapons, it’s the option of last resort and pretty much assures either destruction of MASSIVE damage to all sides involved. When lawsuits fly the only winners will be the lawyers. (”Churla”, Slashdot member).
Even though I’ve…
Related StoresProsper Updates On Loan Payment Fee Discrepency
December 12th, 2007 — Prosper, collections, legal from Mike @ Prosperous Land
Back in October, traveler505 observed that Prosper was pulling group and servicing fees from loan payments made for late loans and that this was against the terms of the lender agreement. Prosper followed up a few weeks later and noted that they were g…
Related StoresContinue reading → Prosper Updates On Loan Payment Fee Discrepency
Borrowers Allowed To Refinance Loans After all
November 14th, 2007 — Prosper, borrowers, forums, legal from Mike @ Prosperous Land
Prosper Shira has popped up and clarified that the previous interpretations were wrong and that borrowers can refinance their loans and that the agreement will be made more clear in the future. Points to Prosper for getting this one straightened out qu…
Continue reading → Borrowers Allowed To Refinance Loans After all
Prosper Violating The Lender Registration Agreement Again
November 14th, 2007 — Lenders, collections, legal from Mike @ Prosperous Land
As had been previously noted, Prosper is testing out a new collections agency. The fly in the ointment is that HollowOak spotted that it’s kinda, sorta, maybe against the lender registration agreement.
I know this is a touchy subject area, but are Pro…
Related StoresContinue reading → Prosper Violating The Lender Registration Agreement Again
Prosper Fixes Lender Agreement Violation
November 12th, 2007 — forums, legal from Mike @ Prosperous Land
About two weeks ago, traveler505 noticed that Prosper hasn’t distributing funds from borrower payments properly (or in compliance with their loan handling agreement). Prosper Shira has followed up with the explanation.
Thank you for unearthing this er…
