Internet's first get-out-of-debt community - 136,000 members

Posted: Mon Dec 10, 2007 7:39 am Subject: Prosper

I feel as though I need to post a warning to all of our users here seeking a loan for a person with poor credit.

A year ago, I took out a loan with Prosper and it was a great experience. I used the money to pay off all of my charge-offs, delinquent accounts and a few other bills. I literally had $3 of the loan left over when I was done, but I paid everything off. At that time, the assistance I received from the Prosper community was great. People provided feedback, advice and I was surprised I funded. I have kept current with my Prosper loan and am happy that I had that experience.

A couple of weeks ago, I learned I could take an additional loan with Prosper. I listed in an effort to pay off a soon-to-go-to-collections college account. I wasn't seeing much activity and was contacted by a Prosper user to a forum site to promote the listing. **I cannot list the site here because it violates rules...I think...but if you want the name, please private message me.** I posted a link to my listing and, since then, have been bashed by its users.

The forum is moderated by some lenders who have been burned on loans. Understandably, they are upset, but to create a forum to essentially berate, belittle and condemn people for being in debt is preposterous. I liken it to an online collection agency.

Beyond their bashing of me, they have threads dedicated to "d--ch-b-gs of prosper," wall of shame where they list borrowers behind on their loans, make fun of people in the pictures they include in their listings...it is unreal.

So, if you plan to use Prosper, do so wisely and be cautious about your postings.

I wish the forum could model itself with this one. Constructive criticism, support and guidance without making someone feel worthless.

Posted: Mon Dec 10, 2007 9:02 am Subject:

Thanks for the good advice. I had never heard of prosper until now. You can put the link up in a form that is not enabled by leaving out the www or the .com.
People can copy it to there browser and add the missing letters.

Posted: Mon Dec 10, 2007 9:09 am Subject:

You may access the web addresses by just adding Prosper or Prospers, but the latter is a .org site. I would encourage the readers to register for Prospers and view the forums. This would likely enlighten them and make them more cautious. Read the check my listing and the general discussion.

I just had a friend register (I am banned now) and he stated they included a link to my workplace. When I registered and in all of my threads, I never included that information to protect my privacy. One poster took it upon himself to assume that is where I work and posted it there.

I am not sure if it meets the criteria, but I filed a complaint with the FTC (Consumer Protection Agency) and the Federal Bureau of Investigation. The website failed to protect my privacy and put out personal information in a public forum.

Posted: Mon Dec 10, 2007 9:10 am Subject:

I just went to their site out of curiosity. They operate like a credit service organization. The down side is that you have to let them have access to your bank account routing info sort of like Cash Call. It is however interesting concept of people bidding for your loan.

Posted: Mon Dec 10, 2007 9:13 am Subject:

You should have a look at Prospers...they operate like a debt collection agency not looking for money, just looking to harrass people.

Posted: Mon Dec 10, 2007 9:19 am Subject:

I am confused. I just looked at Prosper.com which is CSO. Is that the site. Or is it Prospers?

Posted: Mon Dec 10, 2007 9:20 am Subject:

There is a second site called Prospers, but it is a .org site, not a .com. If you want the link, I can PM you.

Posted: Mon Dec 10, 2007 10:26 am Subject:

I signed up for it so I could read the forums. What a strange world that is! I had no idea it existed. I don't even know what half these pepole are talking about but they sure do trash each other. They even post who is late with loans. Too scary for me. It is like the dark side.

Posted: Mon Dec 10, 2007 10:45 am Subject:

Isn't is horrible? In my case, one of the moderators sent me a private message and urged me to become a member of the site and promote my listing. Then I get there only to be bashed! I am not even close to the worst case. Some are downright awful. One person sent me an e-mail last night about her experiences as well. They basically provoked and provoked until she started to stick up for herself and then they accused her of having a bad attitude with the people who she was asking to help her.

Truly sick, but if it makes you happy....I filed complaints though about the privacy issue. I hope I hear something.

anORGmember · Posted: Thu Dec 13, 2007 5:35 pm Subject: The truth on kbowers

kbowers was not treated nearly as harshly as she indicates. She is obviously upset that she was not able to fund her second loan through Prosper. That is understandable.

Many things have changed at Prosper.com since kbowers received her first loan. Many lenders have been burned by those with poor credit. Among the most recent additions to the Prosper platform is the ability to immediately receive a "projected ROI" when bidding on any listing. kbowers credit is quite poor. So poor, in fact, that the projected ROI for bidding on her listing was (-13%). Due to her poor credit, lenders were projected to take a loss when lending to her. On her first loan, lenders had no way of knowing that this was the case.

Due to this projected-loss, very few sane lenders would be willing to lend to her. Her odds of funding a loan were very, very small. Due to these long odds, kbowers resorted to starting multiple threads throughout multiple forums in an effort garner some support. Needless to say, this is not often appreciated. The "horrible" treatment that kbowers consisted of this posting:

Posted: Thu Dec 13, 2007 6:53 pm Subject:

Untrue. How did I manipulate people? I listed a small loan. I was invited to promote my listing on that site and from day one, was called "shameless," that I had a bad attitude and eventually, a liar.

Why would I not get angry when users post rude and offensive remarks about me? You are getting awfully defensive by me posting about my experience. I am extremely angry for the fact that a link to my workplace was posted on the site and that users contacted me directly making verbal threats and name-calling.

Nothing about my workplace was included in my profile information. Nothing excuses the users to contacted me with verbal threats and name-calling. I posted in those forums when I was asked to reply to a question regarding my listing. I am sorry if lenders got burned on loans but that is NOT MY FAULT and I did not deserve to be treated like that. I took a loan at Prosper and am paying it without a problem. Other borrowers may default, but don't punish those who have lived up to the loan agreement.

I am a hard-working adult who has done everything in her power to achieve a stable financial situation. I am not angry that I could not fund. I took the money from my savings account and cashed in two CDs. I am angry at how I was treated. Yes, Matt is a friend and co-worker who did bid on my first loan and did send that message.

By the way...is this legal? This .com site wallofsham? Notice the missing "e" when looking at it. Somehow, I do not think this is. Somehow, I think posting photos of those who have not paid on a loan is illegal.

I am not spiteful, but I am also not a pushover. I have spent years getting out of debt on my own and I will not be made to feel like a criminal or a deadbeat.

But...I will let the users read the threads and decide for themselves.

Posted: Thu Dec 13, 2007 6:55 pm Subject:

My employer name was NEVER listed. That is completely untrue.

Guest · Posted: Thu Dec 13, 2007 7:09 pm Subject:

You also listed ALL of this information in your original prosper.com listing. Why is it that you are so willing to give out personal info when you are trying to get a loan...but anxious to sue anyone who links to it?

Posted: Thu Dec 13, 2007 7:33 pm Subject:

I did not give the specifics of my workplace on anything. You say it doesn't take a genius, ok, but I did not give that information out. And even if the users put two and two together and found where I work, do you condone them contacting me via e-mail calling me names and making threats?

Also...
"Let me break it to you..you aren't gonna fund.

Any chance you may have had with this crowd was killed by your shameless self promotion."

Why could this person not say it in a more civil manner or just ignore my listing? That board is to promote Prosper listings, which is what I was doing.

We can argue until the end of time about this, but I just want to know why I was treated like that. I am not a bad person. I was not trying to offend anyone. I was doing what I was advised by the board users to do. I felt horrible when people started to berate me because I could not understand why.

I posted as waterbug811 too, but I lost my login information a while back and can't get back into it. I only just found the login info for this account. I am still trying to find the waterbug one. Why?

Posted: Thu Dec 13, 2007 7:41 pm Subject:

Found it!!! Go on with my bad self and my pathetic computer skills.

Very Happy

So I won't post under KBowers anymore since I posted most often with waterbug811...and I have a fan....wow....cool.

sun

Sorry...just being silly.

anORGmember · Posted: Thu Dec 13, 2007 7:45 pm Subject:

Ok, I'll play your game. You did not say specifically where you work. It would be similar to me saying "I work for an extremely large software company...my email address is xxx.xxxx@microsoft.com." Sure, if you want to claim that doesn't give specifics...fine. I don't think it will fool anyone, though.

Could it have been more civil? Perhaps. It was also the truth. It's an internet discussion forum. You were not treated anywhere near horribly by forum standards. You were denied the loan you wanted, and took your frustrations out on us. We're used to it. It happens all the time. You're not the first and won't be the last.

Anyone who spends more than 5 minutes at .org will realize that the only real flame-wars that occur between fellow lenders and forum regulars. Newbies and borrowers are treated very softly. If you wish to avoid any harshness, fine...all I ask is that you don't wander to every credit-forum on the internet in an attempt to blast .org simply because they told you the truth about your situation...however painful it may have been.

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