There is a new collections agency option for Prosper (AmSher). I just noticed that this collection agency was an option as a default collection agency. I have switched my default collection agency to AmSher.
AmSher is a family business. The firm started in 1939 as a credit-clothing store, later expanded into the credit furniture business and, in 1986, evolved into the nationally ranked receivables management firm. AmSher is headquartered in Birmingham, Alabama with a second collections location in Tulsa. They are licensed to collect in all 50 states.
Fee for collection services:
17% of funds recovered
Here is a screen shot…
Related Posts -
Prosper Risk RGF in the Prosper forums just made the best post I have seen as an introduction to risk on Prosper. I am reprinting the entire post. Here is a link. I've seen a lot of comments about the high risk associated with lending on prosper and "only lend what you...... -
Expanding Business -- Pimp My Listing #4 Welcome to the fourth installment of Pimp my Listing. Here we have a C Credit with super clean extended credit. Asking for 25K @ 25%. I have bid $50 at 24.94% and 22.94% and my standing order will bid again if 30% funded is reached. $25 Bonus For New Lenders...... -
Prime Borrowing on Prosper Hits Record Levels -- Febuary Marketplace Survey SAN FRANCISCO--(BUSINESS WIRE)--March 11, 2008--Spurred by the credit crunch, attractive rates, and lender demand for conservative assets, Prosper (www.prosper.com), America's largest people-to-people lending marketplace with over 600,000 members and $120 million in funded loans, reported that the number of prime borrowers (720+ credit scores) creating listings and obtaining loans continues...... - One Loan Late. Not supposed to happen to AA. What does that mean? Of my 46 loans. 1 is now late (less than 15 days). Here is what Prosper.com says will happen now: What exactly happens if I'm late? Below is the schedule that Prosper follows in the event of a borrower missing a payment due to insufficient funds (NSF). At any point......
-
New Loan Funded — Clearing a personal credit card used for business purchases — $9,500 at 18% — A Credit — DTI 46% A new loan funded (Clearing a personal credit card used for business purchases â $9,500 at 18%). I participated via an automatic bid Low AMT -- Extreme DTI -- Autofunding. Which means this funded at less than 15K less than 60% DTI and was autofunding.  The borrower had A credit and......
Related Websites -
The Many Benefits of Business Credit Cards. Credit cards often get a bad rap, especially on personal finance blogs, but they can be a powerful tool when used properly. For small and medium size businesses, they can be a tremendous help. I'm not just talking about the credit aspect. Being able to purchase equipment and services...... - Guerlain's Plus que jamais I hear good things about this fragrance, but I have not yet had a chance to smell it. I live in an area that gets things later, but also never gets fragrances such as this. To sample fragrances like this, I rely on friends or the rare trip. I have......
-
Starting a Baseball Card Collection There are more collectors of baseball cards than there are of any other type of sports card. It makes sense, when you think about the fact that baseball cards have been in production far longer than any other form of sports card. Baseball card collecting is a pastime rich with...... -
These Things are Hurting your Credit Score A person's credit score has become very important in this day and age. Your score is what creditors and lenders look at to quickly decide if you are a good or bad risk to lend credit to. It is important that you learn what types of actions hurt your score...... - Credit card bonuses coming back A year ago, Mrs. Rocket and I made almost $2,000 just from credit card bonuses alone. This year, the bonuses have been a little thin . . . I guess maybe we contributed to cc companies becoming a bit more stingy with free money from credit cards. Anyway, if you......
Categories:
4 comments ↓
Biggest problem with being the new collection agency, is that it takes hecka long for people to start choosing you in sufficient numbers to get loans coming your way
Just checked out new collection agency. They are charging 17% instead of 15% of the amount recovered and it doesn’t go down with the age of the loan as the other two do. So to me that’s a big disincentive to switch.
The current collection agency does not work. That is a big disincentive to keep them… I think Prosper has added this agency with a reason and purpose, I am switching.
[...] A few days ago I noticed a new default collection agency being available: New Prosper Collection Agency… [...]
Leave a Comment