Initial Business Response /* (1000, 8, 2016/01/25) */
Hi [redacted],
We apologize for the negative experience with receiving a marketing letter and being denied. The offer is considered "pre-approved", meaning we check your Experian credit score upon submission of your application. To...
confirm, this does not impact your credit score and is not visible to any other entity you authorize to view your credit score.
We have removed your information from our database. Please note, you may receive one or more offer letters in transit in the interim. We hope this satisfies your request.
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Consumer Rebuttal /* (2000, 10, 2016/01/27) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I am good with this response. I still do not underestand why the company doesn't have a way to remove your information after the first denial.
Initial Business Response /* (1000, 5, 2015/11/20) */
Hi [redacted],
We apologize for the negative experience. We received inquiries regarding set-up of the account to sell notes, and sent instructions back to the email address on file on the following...
dates:
11/07/2014
11/17/2014
11/12/2015
Due to the current Prosper account set-up, there are additional steps needed before accessing the secondary trading platform. If you did not receive these instructions please let us know by emailing [redacted]@prosper.com.
We have attempted to reach you by phone this week but were unsuccessful. Please reach out to our Investor Team directly for further resolution, the phone number was provided in the voicemail. We will be able to assist in the account set up.
We regret this did not meet your expectations and look forward to working with you to gain access.
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 5, 2015/11/20) */
Thank you for taking the time to speak with us today over the phone. We apologize for the negative experience, please reach out to me directly should you have any additional concerns or questions going forward.
Regards,
[redacted]...
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 5, 2015/02/03) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. After further research, we found that Ms. [redacted] scheduled two final payments, one of which failed due to a stop payment by Ms. [redacted]. Nonetheless, due to...
computer issues, the second payment also failed in our system which led to the subsequent retrieval of the monthly payment of $389.92 on January 8th. On the same day, Accounting noticed the error, failed the payment, and returned the funds. The final payment was then applied correctly and her account is now closed. The funds of her the additional payment should be in her bank account.
We sincerely apologize for this mishap and thank Ms. [redacted] for her business and patience.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 5, 2015/10/14) */
We apologize for any confusion regarding how interest calculates on the principal balance. When you obtain a loan through Prosper you are provided a schedule of the set minimum amount to pay each month (installment) on a set day (due...
date). Loans are fully amortized which allows us to accurately project how much of each payment goes to interest and principal.
To confirm, interest accrues daily on the current principal balance of the loan. This means the number of days between payments impacts the amount of interest accrued. When customers strictly maintain their payments through autopay the breakdown of interest and principal will stay within the projected payment schedule. In your case, the payment history reflects both payments taken automatically on the due date and manual payments before the due date. For example, your June 11th payment was made on May 15th - 27 days before it was due. The automatic payment on July 11th was made nearly two months after this payment, equaling the number of days interest accrued.
However, because you had made several payments earlier than the due date the principal balance was lower than the projected schedule, resulting in less interest paid overall (counting everything up to July 11th). Let us know if you would like a side by side comparison by emailing [redacted]@prosper.com. The breakdown of your loan is available through your online Prosper account and we would be happy to show you the overall positive impact made by paying early.
Initial Consumer Rebuttal /* (3000, 7, 2015/10/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I do not except the response because I have done the math for the interest collected based on the date of payment and due date. and the payments that was made for june on may collected the same amount of interest as if I had payed the amount on the due date
that's what my concern is I am owed at least 200 dollars of interest from the months of may to August.
In regards to mentioning that I payed early on some months, if we use the example for the monthly payment for 05/11/2015. I believe I payed the amount for atleast 17 days before scheduled and the amount of interest collected was to be $53.31 - $57.15 but $91.42 was collected.
if we are going based on this ratio which was explained to me by them when I got the loan;
Daily interest rate.
I am definitely owed more than $200.
and for the month of June I payed it at least 25-26 days in advance and the amount collected for interest was 78.80 when it should be 18.75.
if you are basing it on your response for paying in days in advance
I understand if the computer made an error.
All I want is the amounts of interest that where wrongly collected for June and July which should be
191.25 for the amount of June and July.
I await your prompt response.
Thank you [redacted]
Final Consumer Response /* (3000, 26, 2015/12/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I have already informed the company of my settlement, yet they wish not to fulfill it. Now awaiting call from them for the past 2 weeks now. They stated they are going to review the calls
Final Business Response /* (4000, 28, 2015/12/24) */
Hi [redacted],
Our apologies for any confusion, per our last conversation we agreed to contact you should something be found through Prosper's phone recordings that indicated a mistake was made on our part. After careful and extensive research we were unable to locate any wrongdoing or misinformation provided. The interest accrual was determined to be correct and accurate.
A Customer Advocate Team-member attempted to reach you by phone yesterday but was unsuccessful. She has provided her contact information by email and can be reached Monday through Friday, 10AM to 7PM, Central Time. Please call her should you need to follow up.
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 8, 2014/12/23) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. It seems that Ms. [redacted] did not apply for a loan at Prosper and someone impersonating her has accessed her personal information to apply for said loan. ...
Please note that Prosper only performs a soft credit pull. This soft credit pull is not visible to outsiders, except Ms. [redacted], and does not affect her current credit score. Because it seems that someone has access to Ms. [redacted]'s personal information, we strongly suggest that Ms. [redacted] institute a fraud alert in credit profile.
Again, our apologies. Though we review all applications for potential fraud, we have unfortunately little control over an impostor's use of someone else's personal information.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 12, 2015/01/09) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Prosper is a vulture! No one has 'hacked' my private information, except Prosper! I received yet more soliciting emails and snail mails this week, from Prosper. I do not want ANY further correspondence from this company.
Thank you
Final Business Response /* (4000, 14, 2015/01/14) */
We do apologize for the continued email and US mail. Unfortunately, our marketing campaigns are developed months ahead and though we have removed her name from our databases, she might continue to receive one or more of these campaigns.
Again, our apologies.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 8, 2014/12/23) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. It seems that her bank has not been properly accounting for the electronic payments we have been submitting. Unfortunately, we are unable to help her directly...
and suggest that she contact her bank directly to address the issues that led to the payment problems. Thereafter, we may be able to address any late payment fees that Prosper has placed in her account.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 11, 2014/12/31) */
(The consumer indicated he/she DID NOT accept the response from the business.)
It was actually an error on Prospers end that they did not inform me of. For some reason they were getting an error message that they never informed me about. I had the bank and a Prosper rep on the phone and she confirmed that they had failed to contact me. I am still waiting on my late fees to be corrected.
Final Business Response /* (4000, 15, 2015/03/03) */
Our records show that we provided customer credits on February 6th for any fees Ms. [redacted] had incurred.
Kind regards,
Prosper Client Services
Final Consumer Response /* (4200, 17, 2015/03/04) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This was an error on Prospers end which has been corrected they told me while on the phone with the bank that they should have contacted me and they were at fault . I have been refunded
Initial Business Response /* (1000, 5, 2015/08/31) */
We regret the negative experience. We are happy to discuss the reasons for account termination further with Mr. [redacted]. We have attempted to contact the wireless phone number provided to us in the application but were unable to reach Mr....
[redacted]. Please note, we are unable to call the phone number on file with this complaint as it is registered to someone other than the Prosper account holder. Prosper takes security very seriously and rest assured your documents are secure. Prosper does not sell personal identifying information to third parties.
Initial Business Response /* (1000, 5, 2015/02/06) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and sincerely apologize for the treatment he seems to have received. Prosper strives to provide the best possible customer service experience possible. ...
Accordingly, we will review our recordings to rectify any flawed processes and provide any necessary training.
In regards to Mr. [redacted]'s requirement to delete all documentation included in his loan application, unfortunately, we are required by law to keep this information for a period of time. This will allow regulators to assess Prosper's adherence with all regulations, including Fair Lending and Fair Credit Reporting. Nonetheless, we have strict security protocols and can assure Mr. [redacted] that his information will not be compromised.
Again, we appreciate Mr. [redacted]'s business and regret that we cannot be of service at this time. Should circumstances change, we hope that he will again consider a Prosper loan.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2015/02/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First, while Prosper may feel the burden of the law to retain records, they are not under burden of law to retain those records in active use or on display to their customers. I question their understanding of the law, or perhaps only Prosper understands it correctly and all others have it wrong.
The crux of the problem I had with Prosper was that they could not internally ignore a bank account, which I requested multiple times that they do, and use the alternate I provided; therefore, they repeatedly held up my request (until it ultimately expired) because they could not overcome their own flawed processes. Even when I contacted them, the responses I received were generic and exhibited a clear disregard for the facts of the matter. They repeatedly looked only at the first account, never the second, and therefore caused my loan request to expire.
Second, in closing my request Prosper noted they were unable to contact me. That is untrue. I responded to every email they sent, which is more than I can say for how they treated my emails. And while every phone call they made went to my voicemail, I returned their calls only to be sent to their voicemail where I did leave a message. This is, however, typical of the customer service, or rather the lack thereof, I received from Prosper.
Lastly, I have since gone to a competing lender, a club of sorts, and encountered a vastly superior process in all respects. Validation methods were modern and electronic, whereas Prosper's are paper-based and straight out of the 1980s. The entire process took less than two days, including twice contacting their support department, whereas Prosper typically took two days to simply respond to a question or new data and could not close the deal after weeks had passed. And, when I entered a bank account, and then decided to use a different account, I was able to delete the first account with two mouse clicks and the competitor never asked about or mentioned the first account and used the second one I provided. (Whether or not the competitor retains the info for the first account is somewhat unimportant, when they are able to internally ignore it - unlike Prosper.)
If Prosper were to fix their processes, improve their systems to use modern verification techniques, and become vastly more responsive to customer contact, then I would consider using them. Until then, I will proceed with the competing club, even at a slightly higher cost, as they've proven they can listen and respond to their customer and in general exhibit a sense of professionalism I did not get from Prosper.
In closing, I do not feel as a customer Prosper adequately addressed my requests or even paid careful attention to the things I told them, and I believe their response here exhibits the same dedication to script and lack of individual attention I have experienced all along. I will leave this as an unresolved issue, and as a beacon to those considering which P2P lender to choose.
Final Business Response /* (4000, 9, 2015/02/14) */
We are in receipt of Mr. [redacted]'s rebuttal. We sincerely apologize for the treatment he received through the application process. Prosper strives to provide the best possible customer service experience possible. Thus, we will diligently be reviewing all recordings and documentation to ensure that we can meet Mr. [redacted]'s standards in the future and to rectify processes which led to Mr. [redacted]'s discontent.
Again, our sincere apologies.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 6, 2015/04/10) */
Dear Mr. [redacted],
Thank you for reaching out regarding your recent experience with Prosper. Our goal is to provide individuals the opportunity of financial wellness and it seems that there was a disconnect in the way your account was...
handled. We sincerely apologize for the frustration.
We are reporting your loan as Paid in Full as of January 20th 2015. As discussed during our conversation yesterday, an amount of $552.20 as well as an additional $55.22 has been located and submitted to your primary bank account on file and should be available within two business days. Please call us at XXX-XXX-XXXX if you need anything further. We thank you for being a valued member of the Prosper Community.
Initial Consumer Rebuttal /* (3000, 8, 2015/04/13) */
I received a call from prosper last night and they claim they will return the $552.20 they stole from my account and the $55.22 in late fees that were assessed to my account wrongly on Monday April 13th. If this happens I will be willing to consider this matter closed. I still think that Prosper needs to be audited on how they keep their books as the statements that they provided me changed from month to month to cover up their mistakes and to charge their customers more money. Thanks for your help as I am sure they would not have done this without you contacting them.
[redacted]
Final Business Response /* (4000, 11, 2015/04/21) */
Thank you for your concerns. While we don't see the extra $150.00 in interest stated, we are certainly available to discuss. If you believe there are still funds from interest that should not have been taken, please call us at XXX-XXX-XXXX. We will have someone research further and provide resolution that meets your needs.
Initial Business Response /* (1000, 5, 2015/09/11) */
We appreciate the opportunity to address your concerns and regret the negative experience you've had so far. This call was reviewed for quality and training purposes, and based on our findings it seems there was a disconnect in...
communication. The agent queued up a payoff per your request but was unaware this was just to determine a quote. It was further reinforced to the agent by your question of "will this come out of my checking account?" and the agent reiterating the date and amount(s) of the payment withdrawal from said account. This statement was confirmed by you at the end of the phone call.
If this payment was still not supposed to pull, please call us and let us know immediately. We appreciate your business and hope to resolve this matter to your full satisfaction.
Initial Consumer Rebuttal /* (3000, 7, 2015/09/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
But will never do business with them again.
What kind of agent cannot explain,balance or why. I had said yes to deduct balance until balance she gave me was more than balance I had, since when, when paying off a loan, is balance greater than the amount owed on a loan??? The reason told to me was calculated daily, sorry this does NOT make sense. I paid more than balance owe on the final payment. Can someone explain that to me? I asked her then to send me how this was calculated then and called again, since did not get the statement. To this day no one ever explained.
Final Business Response /* (4000, 9, 2015/09/25) */
The initial payment quoted included principal only. Loan balance is calculated with applicable fees, accrued interest and principal. The principal balance at the time was $11,728.36, but the total loan balance was $11,807.71, which included the principal balance and the $79.35 accrued interest from the last payment. The $11,807.71 was the correct payoff, it was just applied in two separate payments in error instead of one.
This is why the agent explained one payment was for principal and the other for the remaining balance. We regret this caused confusion over the payoff amount. If you need a total breakdown of how payments were allocated please email [redacted]@prosper.com.
Initial Business Response /* (1000, 5, 2014/08/01) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and are sorry for this turn of events. First, we sincerely apologize for the customer representative's attitude. It certainly does not meet Prosper's standards,...
and we have taken corrective action.
In regards to the adverse action notice, it seems that our system has provided Mr. [redacted] with incorrect factors. Though the first bullet point therein is incorrect, unfortunately, the other points led to the decline of his loan application. Unfortunately, pre-approval letters are based on generic information provided by our partners and often exclude relevant variables, such as income, extent of available credit and others.
Again we sincerely apologize for our colleague's behavior and appreciate Mr. [redacted]'s business. If he has any further questions, Client Services is available at XXX-XXX-XXXX.
Regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/08/05) */
(The consumer indicated he/she DID NOT accept the response from the business.)
While it is nice that they cared enough to respond to the complaint, they should not send out notices telling people that they are approved when they are not. It is just not the truth. They wasted my time and theirs with false advertising.
Final Business Response /* (4000, 9, 2014/08/06) */
Though Prosper adheres strictly to all Federal and state regulations regarding advertising and the use of the word "pre-approval," we understand Mr. [redacted]'s frustration. Unfortunately, due to privacy laws, we are limited by the available data provided by our partners.
Again, our sincere apologies. We appreciate Mr. [redacted]'s comments. We will keep them in mind to improve our processes.
Regards,
Prosper Client Services.
Initial Business Response /* (1000, 5, 2015/05/11) */
Thank you for reaching out to Prosper Marketplace. After researching this issue we have determined we do not have a loan under this individual's name. Is it possible the loan was taken our under someone else's name? If so, please let...
us know and we will research this matter further.
Initial Consumer Rebuttal /* (3000, 7, 2015/05/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
[redacted] L. [redacted] is my name. My wife is the one who filed the report for me. However, the loan is only in my name. The amount of the fee taken was $1,250. We were not aware that they were going to take that much, and definitely was not aware that they were going to make us pay that on top of our loan. The past companies we have dealt with have always taken the fee and deducted it from our loan. We have never had to pay money that we didnt receive back. I am already paying 24.99% interest. I would like to have the $1,250 returned or deducted from my loan balance.
Final Business Response /* (4000, 9, 2015/05/22) */
Thank you for clarifying the account holder's name and the amount of the origination fee. We have placed two calls with voice-mails to the mobile phone number on file as well as an email to the primary email address and have not received a response back. However we are happy to explain the origination fee and the APR in general terms:
An Origination Fee, also known as a Prepaid Finance Charge, is taken out of the loan prior to being submitted to a customer's bank account during origination. This is a one time fee and is not counted as double when re-paying the loan. It is visible during the application after selecting a rate and term on the Listing Truth in Lending Disclosure, which needs to be read and accepted prior to submitting the final application. A copy of this document is located in your online account under History then Legal Agreements & Disclosures.
The Annual Percentage Rate (APR) that you reference is not based on the total loan amount. It is based on the loan proceeds, or the amount you received in your bank account. Your APR is calculated using the origination fee and that amount you received in your bank account, not the total loan amount. This is consistent in your statement with other banks and lending institutions you have worked with previously.
We apologize for any confusion. To confirm, a copy of the Truth in Lending Disclosure is located in your online Prosper account under History, then Legal Agreements & Disclosures. This document confirms that the APR is based on what you received in your bank account(reference the section Amount Financed).
Please let us know if you need anything further. We thank you for being a valued member of the Prosper Community.
Final Consumer Response /* (2000, 11, 2015/05/26) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Initial Business Response /* (1000, 5, 2015/04/06) */
We apologize for any issues regarding your recent experience with our Customer Service Team. Our goal is to provide the best experience for our customers and recognize that there are opportunities, at times, for improvements to be...
made.
We were unable to continue with the loan application because we could not satisfactorily verify the identity of the applicant. We do not engage in any form of illegal discrimination, and based our decision in this case on numerous factors. Due to the sensitive and proprietary nature of our verification process, we cannot provide additional detail in this forum regarding how its decision was made. However, we have reached out to the complainant and explained Prosper's position.
All verification and customer service phone calls are recorded for quality and training purposes. As part of the research in this complaint, we reviewed the calls at issue. That review did not alter our conclusion regarding our inability to sufficiently verify the applicant's identity, but did identify an opportunity for improved communication and will result in additional training, as appropriate.
Initial Business Response /* (1000, 5, 2015/01/07) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. We sincerely apologize for any misunderstanding. A pre-approval offer only signifies that your credit profile met certain criteria. However, in your...
case, additional variables led to the denial of your loan request as delineated in the Adverse Action Notice you received. As required by law, we must ensure the borrower's ability to repay the loan.
As per your request to delete all information concerning your loan application, we are unable to abide by your request. As required by law, we must keep records of all evidence used in the application process for a minimum of 5 years.
We certainly thank you for your business and are sorry that we can not be of service at this time.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2015/01/09) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Additional credit checks even for bogus loan offers adversely affect my credit score and if my credit background prequalified me then it should have been granted. I Want ther credit check removed from my credit history because if they hadn't advertised in this manner I wou have thrown their mailer in the garbage as junk mail.
Final Business Response /* (4000, 9, 2015/01/14) */
Our marketing material follows all regulatory requirements. Pre-qualification does not always lead to a loan unfortunately and depends on the consumer's ability to repay the loan - one of many variables which is not available for prescreen offers.
Again, we are sorry that we could not be of assistance. Prosper only performed a soft credit pull on your credit; as such, it will not affect your credit score and is only visible by the consumer.
Kind regards,
Prosper Client Services
While I think the loan process and company itself is ok, I have an issue with their "partnership" with Spirit airlines. There's a link on Spirit's site that says you can earn 1 mile for every dollar borrowed. I borrowed $2,000 over 4 months ago and still have not received my miles. I have emailed them several times over the last 2.5 months and keep getting a response that this is a manual process that can take 4 weeks - it's been 10 weeks. This has happened to me before, as well as a friend. It's no fluke - it's like they are purposely not awarding miles to customers. Once this loan is paid off next month, I will never get another loan with Prosper. I chose Prosper over another lender because of the miles, but if I'm not going to get them anyway, I will just go with the other lender next time.
Initial Business Response /* (1000, 5, 2015/07/02) */
Thank you for reaching out and addressing your concerns. We regret hearing about your negative experience with applying for a loan through Prosper. One of our main goals is transparency and it seems we could have made this a top...
priority when interacting with our website and Customer Service.
Prosper uses a combination of attributes in determining offers for our customers. This includes credit score, income, employment status and others. On June 23rd we retrieved your credit score along with employment status and income to determine a loan offer. Sometime between the first application and the second attempt the income and employment status entered had changed, resulting in different offers. We apologize this was not fully explained to your satisfaction. A computer or browser issue can occur, but does not impact rates like a change in income or employment.
Please feel free to reach out to us if you would like to continue with the application. We will have a senior agent assist you with your account should you need further assistance. We appreciate your business and look forward to completely resolving this issue.
Initial Consumer Rebuttal /* (3000, 7, 2015/07/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I do not agree. I was not told to use Fire Fox Google Chrome to complete my application.there were no changes in my credit score, employment it was 4 days what I was told on the phone call versus the loan application was completely different I repeated the amount of payment to the gentleman that took my application he said $959 and I had him repeat it my calculation was different 35,0000 at 10% for 60 months so that is why I did not complete on the night of the application so when I went to finish by internet explorer they offered me 15,000 at 21% do you think I stupid.
Final Business Response /* (4000, 9, 2015/07/17) */
We apologize for any confusion regarding our initial response. While we can confirm there was a change in both income amount and employment status between the first and second application, this is reversible.
A senior agent has reached out to you at your home phone number on file and provided a direct number to contact him. Please call him at your earliest convenience. Or, you may reach us at XXX-XXX-XXXX Monday through Friday, 6am to 6pm PST.
Initial Business Response /* (1000, 5, 2014/10/24) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and sympathize with his predicament. Prosper loans are governed by notes that are owned by a multitude of investors. As such, we are unable to modify or...
extend his loan.
If he has any further questions, Client Services is available at XXX-XXX-XXXX.
Regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/11/05) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I would like to offer the following middle ground in response to the business reply for forwarding to the business. Since there apparently is no way for Prosper to take action on a note owned by a multitude of people, I would like for no negative credit reporting to occur while we work towards catching up on these loans. This would be a great middle ground and would not harm the investors nor Prosper. Thank you.
Final Business Response /* (4000, 11, 2014/12/12) */
We sympathize with Mr. [redacted], but unfortunately, we are unable to remove any negative remarks that have already been submitted to the bureaus. We are further bound by regulatory requirements to report according to the status of the account.
Kind regards,
Prosper Marketplace Inc.
Initial Business Response /* (1000, 8, 2015/11/19) */
Hi [redacted],
We apologize for the negative experience. Your information has been removed from future marketing solicitations, however you may receive one or more letters currently in transit. We thank you for your consideration. ...
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 8, 2016/01/25) */
Hi [redacted],
We apologize for the negative experience with receiving a marketing letter and being denied. The offer is considered "pre-approved", meaning we check your Experian credit score upon submission of your application. To...
confirm, this does not impact your credit score and is not visible to any other entity you authorize to view your credit score.
We have removed your information from our database. Please note, you may receive one or more offer letters in transit in the interim. We hope this satisfies your request.
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Consumer Rebuttal /* (2000, 10, 2016/01/27) */
(The consumer indicated he/she ACCEPTED the response from the business.)
I am good with this response. I still do not underestand why the company doesn't have a way to remove your information after the first denial.
Initial Business Response /* (1000, 5, 2015/11/20) */
Hi [redacted],
We apologize for the negative experience. We received inquiries regarding set-up of the account to sell notes, and sent instructions back to the email address on file on the following...
dates:
11/07/2014
11/17/2014
11/12/2015
Due to the current Prosper account set-up, there are additional steps needed before accessing the secondary trading platform. If you did not receive these instructions please let us know by emailing [redacted]@prosper.com.
We have attempted to reach you by phone this week but were unsuccessful. Please reach out to our Investor Team directly for further resolution, the phone number was provided in the voicemail. We will be able to assist in the account set up.
We regret this did not meet your expectations and look forward to working with you to gain access.
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 5, 2015/11/20) */
Thank you for taking the time to speak with us today over the phone. We apologize for the negative experience, please reach out to me directly should you have any additional concerns or questions going forward.
Regards,
[redacted]...
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 5, 2015/02/03) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. After further research, we found that Ms. [redacted] scheduled two final payments, one of which failed due to a stop payment by Ms. [redacted]. Nonetheless, due to...
computer issues, the second payment also failed in our system which led to the subsequent retrieval of the monthly payment of $389.92 on January 8th. On the same day, Accounting noticed the error, failed the payment, and returned the funds. The final payment was then applied correctly and her account is now closed. The funds of her the additional payment should be in her bank account.
We sincerely apologize for this mishap and thank Ms. [redacted] for her business and patience.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 5, 2015/10/14) */
We apologize for any confusion regarding how interest calculates on the principal balance. When you obtain a loan through Prosper you are provided a schedule of the set minimum amount to pay each month (installment) on a set day (due...
date). Loans are fully amortized which allows us to accurately project how much of each payment goes to interest and principal.
To confirm, interest accrues daily on the current principal balance of the loan. This means the number of days between payments impacts the amount of interest accrued. When customers strictly maintain their payments through autopay the breakdown of interest and principal will stay within the projected payment schedule. In your case, the payment history reflects both payments taken automatically on the due date and manual payments before the due date. For example, your June 11th payment was made on May 15th - 27 days before it was due. The automatic payment on July 11th was made nearly two months after this payment, equaling the number of days interest accrued.
However, because you had made several payments earlier than the due date the principal balance was lower than the projected schedule, resulting in less interest paid overall (counting everything up to July 11th). Let us know if you would like a side by side comparison by emailing [redacted]@prosper.com. The breakdown of your loan is available through your online Prosper account and we would be happy to show you the overall positive impact made by paying early.
Initial Consumer Rebuttal /* (3000, 7, 2015/10/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I do not except the response because I have done the math for the interest collected based on the date of payment and due date. and the payments that was made for june on may collected the same amount of interest as if I had payed the amount on the due date
that's what my concern is I am owed at least 200 dollars of interest from the months of may to August.
In regards to mentioning that I payed early on some months, if we use the example for the monthly payment for 05/11/2015. I believe I payed the amount for atleast 17 days before scheduled and the amount of interest collected was to be $53.31 - $57.15 but $91.42 was collected.
if we are going based on this ratio which was explained to me by them when I got the loan;
Daily interest rate.
I am definitely owed more than $200.
and for the month of June I payed it at least 25-26 days in advance and the amount collected for interest was 78.80 when it should be 18.75.
if you are basing it on your response for paying in days in advance
I understand if the computer made an error.
All I want is the amounts of interest that where wrongly collected for June and July which should be
191.25 for the amount of June and July.
I await your prompt response.
Thank you [redacted]
Final Consumer Response /* (3000, 26, 2015/12/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I have already informed the company of my settlement, yet they wish not to fulfill it. Now awaiting call from them for the past 2 weeks now. They stated they are going to review the calls
Final Business Response /* (4000, 28, 2015/12/24) */
Hi [redacted],
Our apologies for any confusion, per our last conversation we agreed to contact you should something be found through Prosper's phone recordings that indicated a mistake was made on our part. After careful and extensive research we were unable to locate any wrongdoing or misinformation provided. The interest accrual was determined to be correct and accurate.
A Customer Advocate Team-member attempted to reach you by phone yesterday but was unsuccessful. She has provided her contact information by email and can be reached Monday through Friday, 10AM to 7PM, Central Time. Please call her should you need to follow up.
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.
Initial Business Response /* (1000, 8, 2014/12/23) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. It seems that Ms. [redacted] did not apply for a loan at Prosper and someone impersonating her has accessed her personal information to apply for said loan. ...
Please note that Prosper only performs a soft credit pull. This soft credit pull is not visible to outsiders, except Ms. [redacted], and does not affect her current credit score. Because it seems that someone has access to Ms. [redacted]'s personal information, we strongly suggest that Ms. [redacted] institute a fraud alert in credit profile.
Again, our apologies. Though we review all applications for potential fraud, we have unfortunately little control over an impostor's use of someone else's personal information.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 12, 2015/01/09) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Prosper is a vulture! No one has 'hacked' my private information, except Prosper! I received yet more soliciting emails and snail mails this week, from Prosper. I do not want ANY further correspondence from this company.
Thank you
Final Business Response /* (4000, 14, 2015/01/14) */
We do apologize for the continued email and US mail. Unfortunately, our marketing campaigns are developed months ahead and though we have removed her name from our databases, she might continue to receive one or more of these campaigns.
Again, our apologies.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 8, 2014/12/23) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. It seems that her bank has not been properly accounting for the electronic payments we have been submitting. Unfortunately, we are unable to help her directly...
and suggest that she contact her bank directly to address the issues that led to the payment problems. Thereafter, we may be able to address any late payment fees that Prosper has placed in her account.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 11, 2014/12/31) */
(The consumer indicated he/she DID NOT accept the response from the business.)
It was actually an error on Prospers end that they did not inform me of. For some reason they were getting an error message that they never informed me about. I had the bank and a Prosper rep on the phone and she confirmed that they had failed to contact me. I am still waiting on my late fees to be corrected.
Final Business Response /* (4000, 15, 2015/03/03) */
Our records show that we provided customer credits on February 6th for any fees Ms. [redacted] had incurred.
Kind regards,
Prosper Client Services
Final Consumer Response /* (4200, 17, 2015/03/04) */
(The consumer indicated he/she DID NOT accept the response from the business.)
This was an error on Prospers end which has been corrected they told me while on the phone with the bank that they should have contacted me and they were at fault . I have been refunded
This is a good faith company that is here to assist customers who also has a good faith
Initial Business Response /* (1000, 5, 2015/08/31) */
We regret the negative experience. We are happy to discuss the reasons for account termination further with Mr. [redacted]. We have attempted to contact the wireless phone number provided to us in the application but were unable to reach Mr....
[redacted]. Please note, we are unable to call the phone number on file with this complaint as it is registered to someone other than the Prosper account holder. Prosper takes security very seriously and rest assured your documents are secure. Prosper does not sell personal identifying information to third parties.
Initial Business Response /* (1000, 5, 2015/02/06) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and sincerely apologize for the treatment he seems to have received. Prosper strives to provide the best possible customer service experience possible. ...
Accordingly, we will review our recordings to rectify any flawed processes and provide any necessary training.
In regards to Mr. [redacted]'s requirement to delete all documentation included in his loan application, unfortunately, we are required by law to keep this information for a period of time. This will allow regulators to assess Prosper's adherence with all regulations, including Fair Lending and Fair Credit Reporting. Nonetheless, we have strict security protocols and can assure Mr. [redacted] that his information will not be compromised.
Again, we appreciate Mr. [redacted]'s business and regret that we cannot be of service at this time. Should circumstances change, we hope that he will again consider a Prosper loan.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2015/02/11) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First, while Prosper may feel the burden of the law to retain records, they are not under burden of law to retain those records in active use or on display to their customers. I question their understanding of the law, or perhaps only Prosper understands it correctly and all others have it wrong.
The crux of the problem I had with Prosper was that they could not internally ignore a bank account, which I requested multiple times that they do, and use the alternate I provided; therefore, they repeatedly held up my request (until it ultimately expired) because they could not overcome their own flawed processes. Even when I contacted them, the responses I received were generic and exhibited a clear disregard for the facts of the matter. They repeatedly looked only at the first account, never the second, and therefore caused my loan request to expire.
Second, in closing my request Prosper noted they were unable to contact me. That is untrue. I responded to every email they sent, which is more than I can say for how they treated my emails. And while every phone call they made went to my voicemail, I returned their calls only to be sent to their voicemail where I did leave a message. This is, however, typical of the customer service, or rather the lack thereof, I received from Prosper.
Lastly, I have since gone to a competing lender, a club of sorts, and encountered a vastly superior process in all respects. Validation methods were modern and electronic, whereas Prosper's are paper-based and straight out of the 1980s. The entire process took less than two days, including twice contacting their support department, whereas Prosper typically took two days to simply respond to a question or new data and could not close the deal after weeks had passed. And, when I entered a bank account, and then decided to use a different account, I was able to delete the first account with two mouse clicks and the competitor never asked about or mentioned the first account and used the second one I provided. (Whether or not the competitor retains the info for the first account is somewhat unimportant, when they are able to internally ignore it - unlike Prosper.)
If Prosper were to fix their processes, improve their systems to use modern verification techniques, and become vastly more responsive to customer contact, then I would consider using them. Until then, I will proceed with the competing club, even at a slightly higher cost, as they've proven they can listen and respond to their customer and in general exhibit a sense of professionalism I did not get from Prosper.
In closing, I do not feel as a customer Prosper adequately addressed my requests or even paid careful attention to the things I told them, and I believe their response here exhibits the same dedication to script and lack of individual attention I have experienced all along. I will leave this as an unresolved issue, and as a beacon to those considering which P2P lender to choose.
Final Business Response /* (4000, 9, 2015/02/14) */
We are in receipt of Mr. [redacted]'s rebuttal. We sincerely apologize for the treatment he received through the application process. Prosper strives to provide the best possible customer service experience possible. Thus, we will diligently be reviewing all recordings and documentation to ensure that we can meet Mr. [redacted]'s standards in the future and to rectify processes which led to Mr. [redacted]'s discontent.
Again, our sincere apologies.
Kind regards,
Prosper Client Services
Initial Business Response /* (1000, 6, 2015/04/10) */
Dear Mr. [redacted],
Thank you for reaching out regarding your recent experience with Prosper. Our goal is to provide individuals the opportunity of financial wellness and it seems that there was a disconnect in the way your account was...
handled. We sincerely apologize for the frustration.
We are reporting your loan as Paid in Full as of January 20th 2015. As discussed during our conversation yesterday, an amount of $552.20 as well as an additional $55.22 has been located and submitted to your primary bank account on file and should be available within two business days. Please call us at XXX-XXX-XXXX if you need anything further. We thank you for being a valued member of the Prosper Community.
Initial Consumer Rebuttal /* (3000, 8, 2015/04/13) */
I received a call from prosper last night and they claim they will return the $552.20 they stole from my account and the $55.22 in late fees that were assessed to my account wrongly on Monday April 13th. If this happens I will be willing to consider this matter closed. I still think that Prosper needs to be audited on how they keep their books as the statements that they provided me changed from month to month to cover up their mistakes and to charge their customers more money. Thanks for your help as I am sure they would not have done this without you contacting them.
[redacted]
Final Business Response /* (4000, 11, 2015/04/21) */
Thank you for your concerns. While we don't see the extra $150.00 in interest stated, we are certainly available to discuss. If you believe there are still funds from interest that should not have been taken, please call us at XXX-XXX-XXXX. We will have someone research further and provide resolution that meets your needs.
Initial Business Response /* (1000, 5, 2015/09/11) */
We appreciate the opportunity to address your concerns and regret the negative experience you've had so far. This call was reviewed for quality and training purposes, and based on our findings it seems there was a disconnect in...
communication. The agent queued up a payoff per your request but was unaware this was just to determine a quote. It was further reinforced to the agent by your question of "will this come out of my checking account?" and the agent reiterating the date and amount(s) of the payment withdrawal from said account. This statement was confirmed by you at the end of the phone call.
If this payment was still not supposed to pull, please call us and let us know immediately. We appreciate your business and hope to resolve this matter to your full satisfaction.
Initial Consumer Rebuttal /* (3000, 7, 2015/09/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
But will never do business with them again.
What kind of agent cannot explain,balance or why. I had said yes to deduct balance until balance she gave me was more than balance I had, since when, when paying off a loan, is balance greater than the amount owed on a loan??? The reason told to me was calculated daily, sorry this does NOT make sense. I paid more than balance owe on the final payment. Can someone explain that to me? I asked her then to send me how this was calculated then and called again, since did not get the statement. To this day no one ever explained.
Final Business Response /* (4000, 9, 2015/09/25) */
The initial payment quoted included principal only. Loan balance is calculated with applicable fees, accrued interest and principal. The principal balance at the time was $11,728.36, but the total loan balance was $11,807.71, which included the principal balance and the $79.35 accrued interest from the last payment. The $11,807.71 was the correct payoff, it was just applied in two separate payments in error instead of one.
This is why the agent explained one payment was for principal and the other for the remaining balance. We regret this caused confusion over the payoff amount. If you need a total breakdown of how payments were allocated please email [redacted]@prosper.com.
Initial Business Response /* (1000, 5, 2014/08/01) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and are sorry for this turn of events. First, we sincerely apologize for the customer representative's attitude. It certainly does not meet Prosper's standards,...
and we have taken corrective action.
In regards to the adverse action notice, it seems that our system has provided Mr. [redacted] with incorrect factors. Though the first bullet point therein is incorrect, unfortunately, the other points led to the decline of his loan application. Unfortunately, pre-approval letters are based on generic information provided by our partners and often exclude relevant variables, such as income, extent of available credit and others.
Again we sincerely apologize for our colleague's behavior and appreciate Mr. [redacted]'s business. If he has any further questions, Client Services is available at XXX-XXX-XXXX.
Regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/08/05) */
(The consumer indicated he/she DID NOT accept the response from the business.)
While it is nice that they cared enough to respond to the complaint, they should not send out notices telling people that they are approved when they are not. It is just not the truth. They wasted my time and theirs with false advertising.
Final Business Response /* (4000, 9, 2014/08/06) */
Though Prosper adheres strictly to all Federal and state regulations regarding advertising and the use of the word "pre-approval," we understand Mr. [redacted]'s frustration. Unfortunately, due to privacy laws, we are limited by the available data provided by our partners.
Again, our sincere apologies. We appreciate Mr. [redacted]'s comments. We will keep them in mind to improve our processes.
Regards,
Prosper Client Services.
Initial Business Response /* (1000, 5, 2015/05/11) */
Thank you for reaching out to Prosper Marketplace. After researching this issue we have determined we do not have a loan under this individual's name. Is it possible the loan was taken our under someone else's name? If so, please let...
us know and we will research this matter further.
Initial Consumer Rebuttal /* (3000, 7, 2015/05/12) */
(The consumer indicated he/she DID NOT accept the response from the business.)
[redacted] L. [redacted] is my name. My wife is the one who filed the report for me. However, the loan is only in my name. The amount of the fee taken was $1,250. We were not aware that they were going to take that much, and definitely was not aware that they were going to make us pay that on top of our loan. The past companies we have dealt with have always taken the fee and deducted it from our loan. We have never had to pay money that we didnt receive back. I am already paying 24.99% interest. I would like to have the $1,250 returned or deducted from my loan balance.
Final Business Response /* (4000, 9, 2015/05/22) */
Thank you for clarifying the account holder's name and the amount of the origination fee. We have placed two calls with voice-mails to the mobile phone number on file as well as an email to the primary email address and have not received a response back. However we are happy to explain the origination fee and the APR in general terms:
An Origination Fee, also known as a Prepaid Finance Charge, is taken out of the loan prior to being submitted to a customer's bank account during origination. This is a one time fee and is not counted as double when re-paying the loan. It is visible during the application after selecting a rate and term on the Listing Truth in Lending Disclosure, which needs to be read and accepted prior to submitting the final application. A copy of this document is located in your online account under History then Legal Agreements & Disclosures.
The Annual Percentage Rate (APR) that you reference is not based on the total loan amount. It is based on the loan proceeds, or the amount you received in your bank account. Your APR is calculated using the origination fee and that amount you received in your bank account, not the total loan amount. This is consistent in your statement with other banks and lending institutions you have worked with previously.
We apologize for any confusion. To confirm, a copy of the Truth in Lending Disclosure is located in your online Prosper account under History, then Legal Agreements & Disclosures. This document confirms that the APR is based on what you received in your bank account(reference the section Amount Financed).
Please let us know if you need anything further. We thank you for being a valued member of the Prosper Community.
Final Consumer Response /* (2000, 11, 2015/05/26) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Initial Business Response /* (1000, 5, 2015/04/06) */
We apologize for any issues regarding your recent experience with our Customer Service Team. Our goal is to provide the best experience for our customers and recognize that there are opportunities, at times, for improvements to be...
made.
We were unable to continue with the loan application because we could not satisfactorily verify the identity of the applicant. We do not engage in any form of illegal discrimination, and based our decision in this case on numerous factors. Due to the sensitive and proprietary nature of our verification process, we cannot provide additional detail in this forum regarding how its decision was made. However, we have reached out to the complainant and explained Prosper's position.
All verification and customer service phone calls are recorded for quality and training purposes. As part of the research in this complaint, we reviewed the calls at issue. That review did not alter our conclusion regarding our inability to sufficiently verify the applicant's identity, but did identify an opportunity for improved communication and will result in additional training, as appropriate.
Initial Business Response /* (1000, 5, 2015/01/07) */
We are in receipt of Ms. [redacted]'s complaint to the Revdex.com. We sincerely apologize for any misunderstanding. A pre-approval offer only signifies that your credit profile met certain criteria. However, in your...
case, additional variables led to the denial of your loan request as delineated in the Adverse Action Notice you received. As required by law, we must ensure the borrower's ability to repay the loan.
As per your request to delete all information concerning your loan application, we are unable to abide by your request. As required by law, we must keep records of all evidence used in the application process for a minimum of 5 years.
We certainly thank you for your business and are sorry that we can not be of service at this time.
Kind regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2015/01/09) */
(The consumer indicated he/she DID NOT accept the response from the business.)
Additional credit checks even for bogus loan offers adversely affect my credit score and if my credit background prequalified me then it should have been granted. I Want ther credit check removed from my credit history because if they hadn't advertised in this manner I wou have thrown their mailer in the garbage as junk mail.
Final Business Response /* (4000, 9, 2015/01/14) */
Our marketing material follows all regulatory requirements. Pre-qualification does not always lead to a loan unfortunately and depends on the consumer's ability to repay the loan - one of many variables which is not available for prescreen offers.
Again, we are sorry that we could not be of assistance. Prosper only performed a soft credit pull on your credit; as such, it will not affect your credit score and is only visible by the consumer.
Kind regards,
Prosper Client Services
While I think the loan process and company itself is ok, I have an issue with their "partnership" with Spirit airlines. There's a link on Spirit's site that says you can earn 1 mile for every dollar borrowed. I borrowed $2,000 over 4 months ago and still have not received my miles. I have emailed them several times over the last 2.5 months and keep getting a response that this is a manual process that can take 4 weeks - it's been 10 weeks. This has happened to me before, as well as a friend. It's no fluke - it's like they are purposely not awarding miles to customers. Once this loan is paid off next month, I will never get another loan with Prosper. I chose Prosper over another lender because of the miles, but if I'm not going to get them anyway, I will just go with the other lender next time.
Initial Business Response /* (1000, 5, 2015/07/02) */
Thank you for reaching out and addressing your concerns. We regret hearing about your negative experience with applying for a loan through Prosper. One of our main goals is transparency and it seems we could have made this a top...
priority when interacting with our website and Customer Service.
Prosper uses a combination of attributes in determining offers for our customers. This includes credit score, income, employment status and others. On June 23rd we retrieved your credit score along with employment status and income to determine a loan offer. Sometime between the first application and the second attempt the income and employment status entered had changed, resulting in different offers. We apologize this was not fully explained to your satisfaction. A computer or browser issue can occur, but does not impact rates like a change in income or employment.
Please feel free to reach out to us if you would like to continue with the application. We will have a senior agent assist you with your account should you need further assistance. We appreciate your business and look forward to completely resolving this issue.
Initial Consumer Rebuttal /* (3000, 7, 2015/07/08) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I do not agree. I was not told to use Fire Fox Google Chrome to complete my application.there were no changes in my credit score, employment it was 4 days what I was told on the phone call versus the loan application was completely different I repeated the amount of payment to the gentleman that took my application he said $959 and I had him repeat it my calculation was different 35,0000 at 10% for 60 months so that is why I did not complete on the night of the application so when I went to finish by internet explorer they offered me 15,000 at 21% do you think I stupid.
Final Business Response /* (4000, 9, 2015/07/17) */
We apologize for any confusion regarding our initial response. While we can confirm there was a change in both income amount and employment status between the first and second application, this is reversible.
A senior agent has reached out to you at your home phone number on file and provided a direct number to contact him. Please call him at your earliest convenience. Or, you may reach us at XXX-XXX-XXXX Monday through Friday, 6am to 6pm PST.
Initial Business Response /* (1000, 5, 2014/10/24) */
We are in receipt of Mr. [redacted]'s complaint to the Revdex.com and sympathize with his predicament. Prosper loans are governed by notes that are owned by a multitude of investors. As such, we are unable to modify or...
extend his loan.
If he has any further questions, Client Services is available at XXX-XXX-XXXX.
Regards,
Prosper Client Services
Initial Consumer Rebuttal /* (3000, 7, 2014/11/05) */
(The consumer indicated he/she DID NOT accept the response from the business.)
I would like to offer the following middle ground in response to the business reply for forwarding to the business. Since there apparently is no way for Prosper to take action on a note owned by a multitude of people, I would like for no negative credit reporting to occur while we work towards catching up on these loans. This would be a great middle ground and would not harm the investors nor Prosper. Thank you.
Final Business Response /* (4000, 11, 2014/12/12) */
We sympathize with Mr. [redacted], but unfortunately, we are unable to remove any negative remarks that have already been submitted to the bureaus. We are further bound by regulatory requirements to report according to the status of the account.
Kind regards,
Prosper Marketplace Inc.
Initial Business Response /* (1000, 8, 2015/11/19) */
Hi [redacted],
We apologize for the negative experience. Your information has been removed from future marketing solicitations, however you may receive one or more letters currently in transit. We thank you for your consideration. ...
Regards,
[redacted]
Customer Experience Manager
Prosper Marketplace, Inc.