P2P Lending -- News, Information, Borrowing and Lending Strategy


New Agency Test Results

Another interesting note from the official forum… New Agency Test Results

Prosper is testing a collection law firm and is recording this on member accounts as “New Agency Test”.  This is a limited pilot to test the process of collecting more aggressively on Prosper Accounts.  Thus far, in approximately one month, we have seen an uptick in payments and promises to pay in almost 10% of the accounts and the law firm has had direct contact with more than 1/3 of the accounts in the test. These results are encouraging.  Actual suits will be initiated on the non-payers in early January.  We expect an additional  5% of the accounts to come to terms once they receive service of process.

If “post service” payments are strong, we will move to expand the legal pilot into additional states.  The long-term goal of this test is to create the reality and recognition of serious consequences of not re-paying Prosper loans.

https://connect.prosper.com/t/1092.aspx

December 22, 2007 | Filed Under Uncategorized 

Useful Info:
Related Articles
Prosper Collections Test In Progress
Quicken ROI Update = 8.11%
Quicken Updated To Reflect Borrower Loans In Lawsuit
Doug Fuller Update Legal Test
Quicken ROI Update = 11.22%
Update to Prosper Lawsuit Notice
How to Switch to AmSher for Prosper Collections
New Prosper Collection Agency
RateLadder IRR/ROI 3/08 Update — (2.11%) to 13.06%
Another Step in the Prosper Lawsuits Against Borrowers


comments

Leave a Reply




Prosper America's Leading Online Lending Marketplace

Financial Web - The Independent Financial Portal
Need a loan before payday? Trying hard to settle debt? Get back on track, learn all about consolidating your debt and find out where to get credit cards for bad credit.