Initial Business Response /* (1000, 5, 2015/07/02) */
Thank you for reaching out and addressing your concerns. A senior agent has been assigned your case and will be in contact with you directly.
Once we receive the funds that were placed into your bank account Prosper will consider the...
loan closed. You will not be responsible for the origination fee nor accrued interest. We regret the negative experience in submitting a request to cancel your application without follow up and follow through. We hope that any future interaction with us, including Customer Service, meets or exceeds your expectations. We appreciate your business.
Initial Business Response /* (1000, 5, 2015/08/13) */
We thank you for reaching out to address your concerns. Excellent Customer Service is a top priority for Prosper, and it appears we could have made a better attempt in resolving this issue. We regret hearing your negative...
experience.
For an unknown reason, the payoff payment amount was scheduled for only the principal balance and did not cover the entire loan balance (principal balance plus accrued interest). Prosper loans have fixed rates with simple interest and are fully amortized with interest accruing daily. This is why a balance was still left on the loan - interest that accrued from the last monthly payment at the time of payoff.
Please accept our sincere apologies for the negative treatment through Customer Service. Our Quality Team will review all calls associated with this transaction. As a courtesy for the issue, a refund in the amount of the remaining balance you had paid will be submitted back to the primary bank account on file. We appreciate your business and hope you consider Prosper Marketplace in the future for your personal loan needs.
Initial Business Response /* (1000, 5, 2015/08/26) */
Thank you for reaching out to us. We apologize for the difficulties you experienced in making your loan payment. We strive for each customer to have an excellent experience and appreciate you being a valued member of the Prosper...
Community. A senior agent has been assigned to your case and will be reaching out to you soon by phone to better assist you with this matter. Please don't hesitate to reach out to us if you have any questions or concerns. We value your business and thank you for choosing Prosper for your personal loan needs.
Thank you,
Initial Consumer Rebuttal /* (3000, 7, 2015/08/28) */
(The consumer indicated he/she DID NOT accept the response from the business.)
No contact from the Senior Agent as promised.
Final Business Response /* (4000, 9, 2015/08/31) */
We apologize for any inconvenience. An email was sent on August 28th detailing the action and resolution of your issue. Let us know if you did not receive this message at [redacted]@prosper.com. Thank you.
Initial Business Response /* (1000, 5, 2016/01/05) */
Ms. [redacted],
We're sorry to hear about this ordeal. Prosper has escalated this complaint to our Fraud department for investigation. A customer service agent will reach out to you and provide you with an update on your situation....
Prosper takes issues with fraud very seriously. If you haven't already done so, please report this to your local law enforcement. They should be able to assist you with this issue.
Regards,
Prosper Client Services
[redacted]
Initial Business Response /* (1000, 5, 2015/08/07) */
Thank you for reaching out. We regret the negative experience as well as confusion with applying and accepting a loan through Prosper. When you went through the process of getting a rate and term for a loan, you had both selected a set...
amount and rate, as well as accepted the terms and conditions for that loan electronically. A copy of the legal agreements can be located in your online Prosper account. You also received two emails confirming that the loan had originated on July 15th, which is also visible in your online account.
As a one time courtesy, the origination fee amount of $320.00 will be refunded directly back to your bank account on file. Please allow 5-7 business days to reflect in your bank account. We appreciate your business and feedback, and hope you consider Prosper in the future for your personal loan needs.
Initial Consumer Rebuttal /* (2000, 7, 2015/08/10) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Initial Business Response /* (1000, 5, 2014/05/22) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. We apologize for Ms. [redacted]'s discontent. We strictly adhere to all Federal and state regulations and rules, including assessing a consumer's ability to...
repay a loan.
In Ms. [redacted]'s case, we received several documents, including a bank statement. Unfortunately, we could not accept this latter document as valid. The numbers therein did not reconcile.
In regards to her documentation, under Regulation B, "for 25 months after the date that a creditor receives an application, the creditor shall retain all written or recorded information in its possession concerning the applicant, including any notation of action taken." However, Prosper has extensive information security protocols to protect any and all consumer information.
In regards to the credit inquiry, Prosper only performed a "soft" inquiry which is only visible to Ms. [redacted]. This inquiry will not affect any future credit applications by Ms. [redacted].
We appreciate Ms. [redacted]'s business, and we are sorry that we can not be of service. If she has any further questions, she may contact Client Services at XXX-XXX-XXXX.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/05/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I will not dignify this ridiculous response from Prosper with a answer. We have had bank accounts with both Chase and Citi for the last 15 years. Your staff can not reconcile a statement because they are is.
The bottom line is that Prosper is deceptive you lure the consumer in approve the loan, request personal documentation and than turn around and decline a loan with no reason. Please consider the matter closed, I am glad that I posted this complaint as hopefully it will help another unsuspecting consumer.
Final Business Response /* (4000, 9, 2014/05/28) */
We are in receipt of Ms. [redacted]'s rebuttal. We are sorry for her continued discontent. We strictly adhere to all Federal and state guidelines and statutes. Based on her comments, we revisited the particular Citibank statement. Unfortunately, the numbers therein still don't reconcile.
If Ms. [redacted] has further questions, she may contact Client Services.
Kind regards,
Prosper Client Services
Dear [redacted], We are sorry to hear about your recent experience. A senior agent will be reaching out to you shortly to address your concerns. Have a pleasant day.
Initial Business Response /* (1000, 6, 2015/03/21) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. A colleague will be contacting him directly to resolve the issue.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 8,...
2015/03/27) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I have not been contacted by a representative from Prosper.com yet. Additionally, I have now noticed that my available cash balance in my Prosper account is not being automatically re-invested and hence, not earning any interest. This automatic re-investing feature was one of the primary reasons for me to invest with Prosper, while helping people in the community with small loans along the way. Overall, it looks like my investment purpose is not being served, as it was originally intended. And, this has not been a good experience for me.
I request that Prosper.com should let me roll-over the entire amount equal to the current 'Account Value' of my account with Prosper.com to my 401K account in the form of a roll-over check. Prosper.com can then choose to close my account with them in a graceful manner without any negative impact to: me, my credit history and my banking history.
I await a positive reply from Prosper.com
Thanks much
- [redacted]
Final Business Response /* (4000, 21, 2015/06/02) */
We have been working with Mr. [redacted] to resolve the issue of the migration of his account over to the new custodian. We hope this has met his expectations and is a better experience for him. Mr. [redacted] is a valued customer of Prosper and we thank him for his business.
Final Consumer Response /* (4200, 23, 2015/06/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This is a better experience of working with Prosper, but the account migration process is not completely done yet. My preference is to see it complete successfully before I accept Prosper's resolution. Thanks much
- [redacted]
Initial Business Response /* (1000, 5, 2014/09/09) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. We apologize for the confusion. Prosper adheres strictly to all Federal and state rules and regulations, including Privacy and Fair Credit Reporting...
Act.
On August 18, Mr. [redacted] clicked on a box providing Prosper with his authorization to pull credit. This authorization led to Mr. [redacted]'s adverse action notice. The adverse action notice, however, notified him that he was eligible for a lower loan amount. Nonetheless, Prosper only performed a soft credit pull. A soft credit pull does not affect his credit and is only visible by him.
We apologize for the confusion. If Mr. [redacted] has further questions, Client Services is available at XXX-XXX-XXXX.
Initial Business Response /* (1000, 5, 2015/08/31) */
Thank you for your time today discussing your recent experience. Call logs are reviewed for coaching and training opportunities as we strive for excellent customer service. Please reach out to us at XXX-XXX-XXXX for anything further. ...
Initial Consumer Rebuttal /* (3000, 7, 2015/09/01) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Business refuses to discuss with me why they believe my provided documentation contained a discrepancy. I submitted proper paperwork, I deserve to know exactly why.
Final Business Response /* (4000, 9, 2015/09/04) */
We regret the negative experience. During the verification process we review all documents in detail for content and authenticity. As we explained in our recent phone conversation, there were discrepancies that could not be reconciled. Therefore we could not proceed with the loan application.
Your Investment account will still allow you to log in and transfer out funds as cash becomes available. Your login email and password [redacted] the same as before. Thank you for your time.
Initial Business Response /* (1000, 5, 2014/03/25) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. We are, however, baffled by his statement. Prosper calculates interest on a simple daily basis. No daily interest accrues beyond the then current date. ...
Therefore, contrary to Mr. [redacted]'s understanding, Prosper neither charges nor adds "unearned interest" to a loan, so there is no "refund" of "unearned interest." Moreover, Prosper does not charge an early prepayment penalty for prepaying a loan.
We apologize for any confusion. Nonetheless, we never charge "unearned interest" on any loan. If Mr. [redacted] is still interested in paying off his loan, he can find the loan payoff balance by logging into his account or calling Client Services at XXX-XXX-XXXX. His loan payoff amount will include the remaining principal balance and interest up to the payoff date only.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/03/27) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I called Prosper for a payoff. My account showed a number of payments at the regular rae and one remaining payment a little different. When I asked what the payoff was I was given a total that exceeded the remaining payments. Ask Prosper what my payoff is today, how many payments remain and the interest they are supposedly refunding. They talk a good game but they function completely differently, The loan is not treated as fixed payment but as a revolvoing loan.
Final Business Response /* (4000, 9, 2014/04/03) */
We are in receipt of Mr. [redacted]'s rebuttal to the Revdex.com. We apologize for any confusion. I tried calling him to no avail.
All Prosper loans have fixed interest with fixed payments over the term of the loan. We do not charge "unearned interest." Prosper loans are also not "revolving credit."
The payoff is the sum of the remaining principal and any interest till day of pay off (not loan term). In Mr. [redacted]'s case, his payoff amount as of today is $3,185.14, NOT $4,050.79 which is the sum of future expected payments.
Again, our sincere apologies for any confusion. Mr. [redacted] is welcomed to call me at the number I left in his voicemail or call Client Services at XXX-XXX-XXXX for additional clarification.
Kind regards,
Prosper Client Services
Final Consumer Response /* (2000, 11, 2014/04/04) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Their response is reasonable.
Initial Business Response /* (1000, 8, 2014/10/09) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com and it seems we could have done better. Unfortunately, we used her name and physical address to obtain her credit report. Apparently, without her social...
security number, we found two credit profiles assigned to said name and address and our system picked out one of these.
Our sincere apologies for this mishap. If Ms. [redacted] is still interested in a Prosper loan, a Client Services representative will be reaching out to Ms. [redacted] to obtain her social security number, so that we may retrieve the correct credit profile. If she has any further questions, Client Services can be reached at XXX-XXX-XXXX.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 5, 2016/01/06) */
Mr. [redacted],
We are sorry to hear about this ordeal. A senior customer service agent will reach out to you with the results of Prosper's fraud department's review. Prosper takes issues with fraud very seriously. If you haven't already...
done so, we suggest that you report this to your local law enforcement. They should be able to assist you with this issue. Although Prosper has no record of contacting you in the past, we've made efforts to prevent you from receiving any marketing materials from our company in the future.
Initial Business Response /* (1000, 8, 2015/04/13) */
We apologize that we were not able to promptly resolve your concerns and we regret that your experience was frustrating.
On March 30th a Customer Experience Manager reached out to provide a resolution: All payments were fully applied...
and any incorrect accrued interest was waived. Prosper also updated its credit reporting to reflect the fact that the loan was paid in full. If you need anything further, please don't hesitate to contact us at XXX-XXX-XXXX. We thank you for being a valued member of the Prosper Community.
Initial Consumer Rebuttal /* (2000, 10, 2015/04/14) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Thank you for resolving this issue. I am satisfied with the outcome.
GREAT COMPANY!!!!!!!!! have helped me so much getting thru a Tough time great low monthly payments slightly high interest rate but still very effectively helpful super grateful for there help!!!!!
Initial Business Response /* (1000, 6, 2014/07/09) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. We are sorry for her discontent with our loan process. We strive to provide excellent customer service.
First, unfortunately, the pre-approval letter is...
based on generic information provided by our partners and excludes relevant unavailable variables, such as income, the extent of available credit and others. These latter factors will affect a borrower's ability to repay the loan and will weigh into the loan approval decision. Moreover, though we rely on the prospective borrower's Credit Bureau score, we also have our own proprietary credit model which provides a different score. This resulting proprietary score incorporates many variables, some of which were delineated in the Adverse Action Notice that was delivered to her via email. Unfortunately, the combination of Ms. [redacted]'s Credit Bureau score and our own proprietary score led to the loan decline.
Secondly, Prosper only performed a soft pull on your credit. A soft pull, or soft inquiry, refers to an inquiry into your credit history that does not adversely affect the credit score. In fact, it is only visible to the prospective borrower. Potential employers use a soft pull as part of background checks, and banks use them to verify customer identity when opening an account.
Finally, we apologize for the Direct Mail communication she recently received. Unfortunately, the Direct Mail lists are compiled by our partners months ahead and does not consider any communication since then.
We sincerely apologize for Ms. [redacted]'s discontent with Prosper. We appreciate her business and regret that we cannot be of service at this time. If she has any further questions, she can reach Client Services at XXX-XXX-XXXX.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 8, 2014/07/10) */
(The consumer indicated he/she DID NOT accept the response from the business.)
He told me my credit score was 715! I was told on the automatic decline page that my score was too low. When I questioned this it was acknowledged that they have a bad/wrong/incorrect page that pops up to all declines that say the wrong message and it wasnt my score but other factors. I still have NOT received a letter in the mail advising why I was declined, all I get is what he wrote, generic general comments that mean nothing. IN fact the only correspondence I've received from this company since I was declined for a PRE APPROVED offer of a loan was ANOTHER PRE APPROVED Offer to apply, less then 3 weeks from when I first applied. If you look at this company's history on the Revdex.com and on customer reviews all over the web, I am not the only one that was scammed into applying so they can ruin my credit with their inquiry. I want at the very least the "Soft Pull" removed from my credit history. They shouldn't even be allow to do business or be a registered company on the Revdex.com as they have so many complaints. I've never gotten a preapproval letter, applied for the offer, and been declined. NOTHING in my personal credit circumstances changed since I got the offer to when I applied, NOTHING. DONT SEND PREAPPROVAL LETTERS if your "partners" dont do their research! This whole experience has been draining and VERY upsetting as I still dont know why I was declined specifically.
Final Business Response /* (4000, 17, 2014/08/08) */
We have removed Ms. [redacted]'s name from future marketing communications.
Our Sincere Apologies,
Prosper Client Services
Final Consumer Response /* (4200, 14, 2014/07/16) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First off I NEVER received any email or letter in the mail stating why I was specifically declined. I WILL NOT go out of my way more then I already have to log onto their scamster site to view anything. I am annoyed they have any of my personal information to begin with. Every other reputable company would send a letter in the mail and SHOCKING this so called professional company never did. All they sent in the mail was another PROSPER loan offer. All he is doing is just repeating himself. To say "we have a fewer number of "complaints" than our counterparts" is laughable. Just because you respond to Revdex.com complaints doesn't negate the fact that you use misleading marketing material to sucker in unsuspecting consumers into your scam. Preapproval means PREAPPROVAL. Nothing changed in my credit situation from when the letter was sent to when I applied that would justify a DECLINE when I get a PREAPPROVAL Letter. Anytime in the past that I got an offer that was stamped all over it PREAPPROVAL, I've gotten it. At the end of the decline I was offered a service for debt consolidation and I feel this is the REAL reason behind their "marketing, to sign people up for some service that they obviously make money on. I am BEYOND disatisfied with the So called Service, again, just because you respond, doesn't entitle you to a free pass to take advantage of people and put out fishing marketing material. Don't be surprised when a class action lawsuit is brought against your company for the bogus marketing material you send. I've checked your MANY complaints and I'm not the only one who's had this issue with Prosper.
Initial Business Response /* (1000, 5, 2015/03/21) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. In regards to his personal information, we are unable to delete the information. We are required by law to retain the information for regulatory...
purposes. Nonetheless, please note that we follow the strictest security guidelines.
Again, we appreciate Mr. [redacted]'s business and are sorry that we could not be of help.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2015/03/25) */
(The consumer indicated he/she DID NOT accept the response from the business.)
They did not give a reason why I was not approve for the loan. Or why they close my account online. And because they close my account online
I could not access my account to see if a reason was given for denying my loan request. And if they had no intention of giving me the loan why did they waste my time. Thanks for your time.
Initial Business Response /* (1000, 5, 2014/11/02) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and apologize for the miscommunication. Prosper thrives to provide the best possible customer experience, and it seems we could have done better.
According...
to our records, Loan XXXXX was charged off on September 16, 2013 with a remaining principal balance of $210.39 of which Mr. [redacted]'s portion is $1.31. The note detail is currently available in Mr. [redacted]'s account.
We sincerely apologize for the miscommunication and system issues. Nonetheless, if Mr. [redacted] continues to have system issues, Client Services is available at XXX-XXX-XXXX.
Regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/11/04) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The note detail has been updated. That is not the entire issue here. I asked for some assurance that collection letters were sent to the borrower. The loan was charged off X-XX-XX however, the display on Prosper's website showed me that it was a current loan until mid to late October 2014. Over a year later it was still showing as current.
With all of my other loans, I can be assured that the collection process is happening because I can see when a loan goes 15 days past due or 30 days past due and I assume that when the loan hits 31 days and says it is in collections that a collection agency is handling the collection process.
When I talk to Prosper's Client Services they will not give me any additional details about this loan and the collection efforts that have happened. I would still like to know the dates collection activities happened.
I would also like to know why this loan was charged off on X-XX-XX when it was not even 30 days past due based upon the note's maturity.
I believe that Prosper is lying about this loan and I will not be doing business with them because of their "customer's serve us" mentality. Prosper's policy allows 120 days before a loan is charged off. They are stating that they charged this one off 30 days after the final payment was made and 16 days after the loan matured.
I don't know why I still have this complaint because Prosper's lies and unwillingness to respond without a Revdex.com complaint tells me that I don't want to do business with them any more however, I still have some loans locked up and will have to draw money out over the next three years as they pay off.
I would still like to understand the dates collection items happened and would now like to understand why Prosper violated their policy by charging the loan off before it was 120 days delinquent.
Final Business Response /* (4000, 9, 2014/11/07) */
We are in receipt of Mr. [redacted]'s rebuttal and sincerely apologize. For some unexplained reason, the account was erroneously charged off. We are correcting the error and Mr. [redacted] should see a credit in his account in the coming days.
Again, our apologies.
Kind regards,
Prosper Client Services
Final Consumer Response /* (4200, 11, 2014/11/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This explanation doesn't indicate what happened on the loan. I have been told that it was charged off and that I should trust that the accounting is correct and that the collection efforts happened as they should have. Now Prosper is stating that it was charged off in error?
Please explain the status of this loan and why I am getting so many responses that are contradictory. This is two requests and a simple apology will not suffice. I have been asking what is going on with this loan for over 9 months now and still don't have a response.
Initially I started asking in order to determine whether or not Prosper was a good option for me to continue my investing. That ship has now sailed and I continue asking the same questions as a matter of principle. "What is going on with this loan?" and "Why can't Prosper tell me what is going on with this loan?" I now have additional questions like "why was I told something that was incorrect?" and "how many other loans have similar issues?" If you can't tell me what is going on with this loan, how can I trust your accounting with all of my historical loans?
A warning to future Prosper investors should go out that Prosper doesn't know what is going on with their loans as indicated by the multiple responses to this complaint that appear to contradict each other.
Initial Business Response /* (1000, 8, 2015/09/25) */
We have removed this customer from our mailed marketing list. Because marketing letters are pre-printed in advance there may be one or two letters that the customer may receive in the interim.
As always, the customer can opt-out of...
pre-screened offers by calling the toll free number located on both the front and back of the letter: X-XXX-XXX-XXXX.
Thank you,
Initial Business Response /* (1000, 5, 2015/01/19) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and apologize for the misunderstanding. Based on generic minimum credit criteria, Prosper received Mr. [redacted]'s contact information from our partner. ...
These criteria are often enough for a final loan approval.
Unfortunately, a pre-approval letter is only the first step to loan approval. A loan application goes through several additional steps, including ID and income verification and an assessment of the client's ability to repay the potential loan. In Mr. [redacted]'s case, several variables led to the decline of his loan. Some of these variables are listed in the adverse action letter he received on January 1, 2015.
We appreciate very much Mr. [redacted]'s business and regret that we could not be of service at this time. Just like every financial institution, we are required by regulation to assess a borrower's ability to repay a loan.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 5, 2015/07/02) */
Thank you for reaching out and addressing your concerns. A senior agent has been assigned your case and will be in contact with you directly.
Once we receive the funds that were placed into your bank account Prosper will consider the...
loan closed. You will not be responsible for the origination fee nor accrued interest. We regret the negative experience in submitting a request to cancel your application without follow up and follow through. We hope that any future interaction with us, including Customer Service, meets or exceeds your expectations. We appreciate your business.
Initial Business Response /* (1000, 5, 2015/08/13) */
We thank you for reaching out to address your concerns. Excellent Customer Service is a top priority for Prosper, and it appears we could have made a better attempt in resolving this issue. We regret hearing your negative...
experience.
For an unknown reason, the payoff payment amount was scheduled for only the principal balance and did not cover the entire loan balance (principal balance plus accrued interest). Prosper loans have fixed rates with simple interest and are fully amortized with interest accruing daily. This is why a balance was still left on the loan - interest that accrued from the last monthly payment at the time of payoff.
Please accept our sincere apologies for the negative treatment through Customer Service. Our Quality Team will review all calls associated with this transaction. As a courtesy for the issue, a refund in the amount of the remaining balance you had paid will be submitted back to the primary bank account on file. We appreciate your business and hope you consider Prosper Marketplace in the future for your personal loan needs.
Initial Business Response /* (1000, 5, 2015/08/26) */
Thank you for reaching out to us. We apologize for the difficulties you experienced in making your loan payment. We strive for each customer to have an excellent experience and appreciate you being a valued member of the Prosper...
Community. A senior agent has been assigned to your case and will be reaching out to you soon by phone to better assist you with this matter. Please don't hesitate to reach out to us if you have any questions or concerns. We value your business and thank you for choosing Prosper for your personal loan needs.
Thank you,
Initial Consumer Rebuttal /* (3000, 7, 2015/08/28) */
(The consumer indicated he/she DID NOT accept the response from the business.)
No contact from the Senior Agent as promised.
Final Business Response /* (4000, 9, 2015/08/31) */
We apologize for any inconvenience. An email was sent on August 28th detailing the action and resolution of your issue. Let us know if you did not receive this message at [redacted]@prosper.com. Thank you.
Initial Business Response /* (1000, 5, 2016/01/05) */
Ms. [redacted],
We're sorry to hear about this ordeal. Prosper has escalated this complaint to our Fraud department for investigation. A customer service agent will reach out to you and provide you with an update on your situation....
Prosper takes issues with fraud very seriously. If you haven't already done so, please report this to your local law enforcement. They should be able to assist you with this issue.
Regards,
Prosper Client Services
[redacted]
Initial Business Response /* (1000, 5, 2015/08/07) */
Thank you for reaching out. We regret the negative experience as well as confusion with applying and accepting a loan through Prosper. When you went through the process of getting a rate and term for a loan, you had both selected a set...
amount and rate, as well as accepted the terms and conditions for that loan electronically. A copy of the legal agreements can be located in your online Prosper account. You also received two emails confirming that the loan had originated on July 15th, which is also visible in your online account.
As a one time courtesy, the origination fee amount of $320.00 will be refunded directly back to your bank account on file. Please allow 5-7 business days to reflect in your bank account. We appreciate your business and feedback, and hope you consider Prosper in the future for your personal loan needs.
Initial Consumer Rebuttal /* (2000, 7, 2015/08/10) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Initial Business Response /* (1000, 5, 2014/05/22) */
s.
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. We apologize for Ms. [redacted]'s discontent. We strictly adhere to all Federal and state regulations and rules, including assessing a consumer's ability to...
repay a loan.
In Ms. [redacted]'s case, we received several documents, including a bank statement. Unfortunately, we could not accept this latter document as valid. The numbers therein did not reconcile.
In regards to her documentation, under Regulation B, "for 25 months after the date that a creditor receives an application, the creditor shall retain all written or recorded information in its possession concerning the applicant, including any notation of action taken." However, Prosper has extensive information security protocols to protect any and all consumer information.
In regards to the credit inquiry, Prosper only performed a "soft" inquiry which is only visible to Ms. [redacted]. This inquiry will not affect any future credit applications by Ms. [redacted].
We appreciate Ms. [redacted]'s business, and we are sorry that we can not be of service. If she has any further questions, she may contact Client Services at XXX-XXX-XXXX.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/05/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I will not dignify this ridiculous response from Prosper with a answer. We have had bank accounts with both Chase and Citi for the last 15 years. Your staff can not reconcile a statement because they are i
The bottom line is that Prosper is deceptive you lure the consumer in approve the loan, request personal documentation and than turn around and decline a loan with no reason. Please consider the matter closed, I am glad that I posted this complaint as hopefully it will help another unsuspecting consumer.
Final Business Response /* (4000, 9, 2014/05/28) */
We are in receipt of Ms. [redacted]'s rebuttal. We are sorry for her continued discontent. We strictly adhere to all Federal and state guidelines and statutes. Based on her comments, we revisited the particular Citibank statement. Unfortunately, the numbers therein still don't reconcile.
If Ms. [redacted] has further questions, she may contact Client Services.
Kind regards,
Prosper Client Services
Dear [redacted], We are sorry to hear about your recent experience. A senior agent will be reaching out to you shortly to address your concerns. Have a pleasant day.
Initial Business Response /* (1000, 6, 2015/03/21) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. A colleague will be contacting him directly to resolve the issue.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 8,...
2015/03/27) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I have not been contacted by a representative from Prosper.com yet. Additionally, I have now noticed that my available cash balance in my Prosper account is not being automatically re-invested and hence, not earning any interest. This automatic re-investing feature was one of the primary reasons for me to invest with Prosper, while helping people in the community with small loans along the way. Overall, it looks like my investment purpose is not being served, as it was originally intended. And, this has not been a good experience for me.
I request that Prosper.com should let me roll-over the entire amount equal to the current 'Account Value' of my account with Prosper.com to my 401K account in the form of a roll-over check. Prosper.com can then choose to close my account with them in a graceful manner without any negative impact to: me, my credit history and my banking history.
I await a positive reply from Prosper.com
Thanks much
- [redacted]
Final Business Response /* (4000, 21, 2015/06/02) */
We have been working with Mr. [redacted] to resolve the issue of the migration of his account over to the new custodian. We hope this has met his expectations and is a better experience for him. Mr. [redacted] is a valued customer of Prosper and we thank him for his business.
Final Consumer Response /* (4200, 23, 2015/06/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This is a better experience of working with Prosper, but the account migration process is not completely done yet. My preference is to see it complete successfully before I accept Prosper's resolution. Thanks much
- [redacted]
Initial Business Response /* (1000, 5, 2014/09/09) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. We apologize for the confusion. Prosper adheres strictly to all Federal and state rules and regulations, including Privacy and Fair Credit Reporting...
Act.
On August 18, Mr. [redacted] clicked on a box providing Prosper with his authorization to pull credit. This authorization led to Mr. [redacted]'s adverse action notice. The adverse action notice, however, notified him that he was eligible for a lower loan amount. Nonetheless, Prosper only performed a soft credit pull. A soft credit pull does not affect his credit and is only visible by him.
We apologize for the confusion. If Mr. [redacted] has further questions, Client Services is available at XXX-XXX-XXXX.
Initial Business Response /* (1000, 5, 2015/08/31) */
Thank you for your time today discussing your recent experience. Call logs are reviewed for coaching and training opportunities as we strive for excellent customer service. Please reach out to us at XXX-XXX-XXXX for anything further. ...
Initial Consumer Rebuttal /* (3000, 7, 2015/09/01) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Business refuses to discuss with me why they believe my provided documentation contained a discrepancy. I submitted proper paperwork, I deserve to know exactly why.
Final Business Response /* (4000, 9, 2015/09/04) */
We regret the negative experience. During the verification process we review all documents in detail for content and authenticity. As we explained in our recent phone conversation, there were discrepancies that could not be reconciled. Therefore we could not proceed with the loan application.
Your Investment account will still allow you to log in and transfer out funds as cash becomes available. Your login email and password [redacted] the same as before. Thank you for your time.
Initial Business Response /* (1000, 5, 2014/03/25) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. We are, however, baffled by his statement. Prosper calculates interest on a simple daily basis. No daily interest accrues beyond the then current date. ...
Therefore, contrary to Mr. [redacted]'s understanding, Prosper neither charges nor adds "unearned interest" to a loan, so there is no "refund" of "unearned interest." Moreover, Prosper does not charge an early prepayment penalty for prepaying a loan.
We apologize for any confusion. Nonetheless, we never charge "unearned interest" on any loan. If Mr. [redacted] is still interested in paying off his loan, he can find the loan payoff balance by logging into his account or calling Client Services at XXX-XXX-XXXX. His loan payoff amount will include the remaining principal balance and interest up to the payoff date only.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/03/27) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I called Prosper for a payoff. My account showed a number of payments at the regular rae and one remaining payment a little different. When I asked what the payoff was I was given a total that exceeded the remaining payments. Ask Prosper what my payoff is today, how many payments remain and the interest they are supposedly refunding. They talk a good game but they function completely differently, The loan is not treated as fixed payment but as a revolvoing loan.
Final Business Response /* (4000, 9, 2014/04/03) */
We are in receipt of Mr. [redacted]'s rebuttal to the Revdex.com. We apologize for any confusion. I tried calling him to no avail.
All Prosper loans have fixed interest with fixed payments over the term of the loan. We do not charge "unearned interest." Prosper loans are also not "revolving credit."
The payoff is the sum of the remaining principal and any interest till day of pay off (not loan term). In Mr. [redacted]'s case, his payoff amount as of today is $3,185.14, NOT $4,050.79 which is the sum of future expected payments.
Again, our sincere apologies for any confusion. Mr. [redacted] is welcomed to call me at the number I left in his voicemail or call Client Services at XXX-XXX-XXXX for additional clarification.
Kind regards,
Prosper Client Services
Final Consumer Response /* (2000, 11, 2014/04/04) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Their response is reasonable.
Initial Business Response /* (1000, 8, 2014/10/09) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com and it seems we could have done better. Unfortunately, we used her name and physical address to obtain her credit report. Apparently, without her social...
security number, we found two credit profiles assigned to said name and address and our system picked out one of these.
Our sincere apologies for this mishap. If Ms. [redacted] is still interested in a Prosper loan, a Client Services representative will be reaching out to Ms. [redacted] to obtain her social security number, so that we may retrieve the correct credit profile. If she has any further questions, Client Services can be reached at XXX-XXX-XXXX.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 5, 2016/01/06) */
Mr. [redacted],
We are sorry to hear about this ordeal. A senior customer service agent will reach out to you with the results of Prosper's fraud department's review. Prosper takes issues with fraud very seriously. If you haven't already...
done so, we suggest that you report this to your local law enforcement. They should be able to assist you with this issue. Although Prosper has no record of contacting you in the past, we've made efforts to prevent you from receiving any marketing materials from our company in the future.
Sincerely,
Prosper Client Services.
Initial Business Response /* (1000, 8, 2015/04/13) */
We apologize that we were not able to promptly resolve your concerns and we regret that your experience was frustrating.
On March 30th a Customer Experience Manager reached out to provide a resolution: All payments were fully applied...
and any incorrect accrued interest was waived. Prosper also updated its credit reporting to reflect the fact that the loan was paid in full. If you need anything further, please don't hesitate to contact us at XXX-XXX-XXXX. We thank you for being a valued member of the Prosper Community.
Initial Consumer Rebuttal /* (2000, 10, 2015/04/14) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Thank you for resolving this issue. I am satisfied with the outcome.
GREAT COMPANY!!!!!!!!! have helped me so much getting thru a Tough time great low monthly payments slightly high interest rate but still very effectively helpful super grateful for there help!!!!!
Initial Business Response /* (1000, 6, 2014/07/09) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. We are sorry for her discontent with our loan process. We strive to provide excellent customer service.
First, unfortunately, the pre-approval letter is...
based on generic information provided by our partners and excludes relevant unavailable variables, such as income, the extent of available credit and others. These latter factors will affect a borrower's ability to repay the loan and will weigh into the loan approval decision. Moreover, though we rely on the prospective borrower's Credit Bureau score, we also have our own proprietary credit model which provides a different score. This resulting proprietary score incorporates many variables, some of which were delineated in the Adverse Action Notice that was delivered to her via email. Unfortunately, the combination of Ms. [redacted]'s Credit Bureau score and our own proprietary score led to the loan decline.
Secondly, Prosper only performed a soft pull on your credit. A soft pull, or soft inquiry, refers to an inquiry into your credit history that does not adversely affect the credit score. In fact, it is only visible to the prospective borrower. Potential employers use a soft pull as part of background checks, and banks use them to verify customer identity when opening an account.
Finally, we apologize for the Direct Mail communication she recently received. Unfortunately, the Direct Mail lists are compiled by our partners months ahead and does not consider any communication since then.
We sincerely apologize for Ms. [redacted]'s discontent with Prosper. We appreciate her business and regret that we cannot be of service at this time. If she has any further questions, she can reach Client Services at XXX-XXX-XXXX.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 8, 2014/07/10) */
(The consumer indicated he/she DID NOT accept the response from the business.)
He told me my credit score was 715! I was told on the automatic decline page that my score was too low. When I questioned this it was acknowledged that they have a bad/wrong/incorrect page that pops up to all declines that say the wrong message and it wasnt my score but other factors. I still have NOT received a letter in the mail advising why I was declined, all I get is what he wrote, generic general comments that mean nothing. IN fact the only correspondence I've received from this company since I was declined for a PRE APPROVED offer of a loan was ANOTHER PRE APPROVED Offer to apply, less then 3 weeks from when I first applied. If you look at this company's history on the Revdex.com and on customer reviews all over the web, I am not the only one that was scammed into applying so they can ruin my credit with their inquiry. I want at the very least the "Soft Pull" removed from my credit history. They shouldn't even be allow to do business or be a registered company on the Revdex.com as they have so many complaints. I've never gotten a preapproval letter, applied for the offer, and been declined. NOTHING in my personal credit circumstances changed since I got the offer to when I applied, NOTHING. DONT SEND PREAPPROVAL LETTERS if your "partners" dont do their research! This whole experience has been draining and VERY upsetting as I still dont know why I was declined specifically.
Final Business Response /* (4000, 17, 2014/08/08) */
We have removed Ms. [redacted]'s name from future marketing communications.
Our Sincere Apologies,
Prosper Client Services
Final Consumer Response /* (4200, 14, 2014/07/16) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First off I NEVER received any email or letter in the mail stating why I was specifically declined. I WILL NOT go out of my way more then I already have to log onto their scamster site to view anything. I am annoyed they have any of my personal information to begin with. Every other reputable company would send a letter in the mail and SHOCKING this so called professional company never did. All they sent in the mail was another PROSPER loan offer. All he is doing is just repeating himself. To say "we have a fewer number of "complaints" than our counterparts" is laughable. Just because you respond to Revdex.com complaints doesn't negate the fact that you use misleading marketing material to sucker in unsuspecting consumers into your scam. Preapproval means PREAPPROVAL. Nothing changed in my credit situation from when the letter was sent to when I applied that would justify a DECLINE when I get a PREAPPROVAL Letter. Anytime in the past that I got an offer that was stamped all over it PREAPPROVAL, I've gotten it. At the end of the decline I was offered a service for debt consolidation and I feel this is the REAL reason behind their "marketing, to sign people up for some service that they obviously make money on. I am BEYOND disatisfied with the So called Service, again, just because you respond, doesn't entitle you to a free pass to take advantage of people and put out fishing marketing material. Don't be surprised when a class action lawsuit is brought against your company for the bogus marketing material you send. I've checked your MANY complaints and I'm not the only one who's had this issue with Prosper.
Initial Business Response /* (1000, 5, 2015/03/21) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com. In regards to his personal information, we are unable to delete the information. We are required by law to retain the information for regulatory...
purposes. Nonetheless, please note that we follow the strictest security guidelines.
Again, we appreciate Mr. [redacted]'s business and are sorry that we could not be of help.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2015/03/25) */
(The consumer indicated he/she DID NOT accept the response from the business.)
They did not give a reason why I was not approve for the loan. Or why they close my account online. And because they close my account online
I could not access my account to see if a reason was given for denying my loan request. And if they had no intention of giving me the loan why did they waste my time. Thanks for your time.
Initial Business Response /* (1000, 5, 2014/11/02) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and apologize for the miscommunication. Prosper thrives to provide the best possible customer experience, and it seems we could have done better.
According...
to our records, Loan XXXXX was charged off on September 16, 2013 with a remaining principal balance of $210.39 of which Mr. [redacted]'s portion is $1.31. The note detail is currently available in Mr. [redacted]'s account.
We sincerely apologize for the miscommunication and system issues. Nonetheless, if Mr. [redacted] continues to have system issues, Client Services is available at XXX-XXX-XXXX.
Regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/11/04) */
(The consumer indicated he/she DID NOT accept the response from the business.)
The note detail has been updated. That is not the entire issue here. I asked for some assurance that collection letters were sent to the borrower. The loan was charged off X-XX-XX however, the display on Prosper's website showed me that it was a current loan until mid to late October 2014. Over a year later it was still showing as current.
With all of my other loans, I can be assured that the collection process is happening because I can see when a loan goes 15 days past due or 30 days past due and I assume that when the loan hits 31 days and says it is in collections that a collection agency is handling the collection process.
When I talk to Prosper's Client Services they will not give me any additional details about this loan and the collection efforts that have happened. I would still like to know the dates collection activities happened.
I would also like to know why this loan was charged off on X-XX-XX when it was not even 30 days past due based upon the note's maturity.
I believe that Prosper is lying about this loan and I will not be doing business with them because of their "customer's serve us" mentality. Prosper's policy allows 120 days before a loan is charged off. They are stating that they charged this one off 30 days after the final payment was made and 16 days after the loan matured.
I don't know why I still have this complaint because Prosper's lies and unwillingness to respond without a Revdex.com complaint tells me that I don't want to do business with them any more however, I still have some loans locked up and will have to draw money out over the next three years as they pay off.
I would still like to understand the dates collection items happened and would now like to understand why Prosper violated their policy by charging the loan off before it was 120 days delinquent.
Final Business Response /* (4000, 9, 2014/11/07) */
We are in receipt of Mr. [redacted]'s rebuttal and sincerely apologize. For some unexplained reason, the account was erroneously charged off. We are correcting the error and Mr. [redacted] should see a credit in his account in the coming days.
Again, our apologies.
Kind regards,
Prosper Client Services
Final Consumer Response /* (4200, 11, 2014/11/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This explanation doesn't indicate what happened on the loan. I have been told that it was charged off and that I should trust that the accounting is correct and that the collection efforts happened as they should have. Now Prosper is stating that it was charged off in error?
Please explain the status of this loan and why I am getting so many responses that are contradictory. This is two requests and a simple apology will not suffice. I have been asking what is going on with this loan for over 9 months now and still don't have a response.
Initially I started asking in order to determine whether or not Prosper was a good option for me to continue my investing. That ship has now sailed and I continue asking the same questions as a matter of principle. "What is going on with this loan?" and "Why can't Prosper tell me what is going on with this loan?" I now have additional questions like "why was I told something that was incorrect?" and "how many other loans have similar issues?" If you can't tell me what is going on with this loan, how can I trust your accounting with all of my historical loans?
A warning to future Prosper investors should go out that Prosper doesn't know what is going on with their loans as indicated by the multiple responses to this complaint that appear to contradict each other.
Initial Business Response /* (1000, 8, 2015/09/25) */
We have removed this customer from our mailed marketing list. Because marketing letters are pre-printed in advance there may be one or two letters that the customer may receive in the interim.
As always, the customer can opt-out of...
pre-screened offers by calling the toll free number located on both the front and back of the letter: X-XXX-XXX-XXXX.
Thank you,
Initial Business Response /* (1000, 5, 2015/01/19) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and apologize for the misunderstanding. Based on generic minimum credit criteria, Prosper received Mr. [redacted]'s contact information from our partner. ...
These criteria are often enough for a final loan approval.
Unfortunately, a pre-approval letter is only the first step to loan approval. A loan application goes through several additional steps, including ID and income verification and an assessment of the client's ability to repay the potential loan. In Mr. [redacted]'s case, several variables led to the decline of his loan. Some of these variables are listed in the adverse action letter he received on January 1, 2015.
We appreciate very much Mr. [redacted]'s business and regret that we could not be of service at this time. Just like every financial institution, we are required by regulation to assess a borrower's ability to repay a loan.
Kind regards,
Prosper Client Services