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Debt Sales

Started by Peter, November 28, 2011, 11:00:00 PM

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WES

Hi Peter:

Just had my first charge-off on Prosper.  https://forum.lendacademy.com/Smileys/default/sad.gif" alt=":(" title="Sad" class="smiley" />

Just to be clear, I understand that the chances of recovering anything on this note are slim, but I also see that Prosper has done Debt Sales in the past. But I don't see any Debt Sale history since 2007. Is this something that the "New" Prosper no longer does?

Peter

WES, I will try and get a definite answer for you but I have heard that they still do this.
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DiligentiaLLC

Peter, I see what WES is talking about here:

http://www.prosper.com/help/topics/lender-debt_sale_history.aspx" class="bbc_link" target="_blank">http://www.prosper.com/help/topics/lender-debt_sale_history.aspx

Over 700 bad debt notes sold in the month of December 07 alone - and then everything stopped???

Any word from Prosper on this?

TravelingPennies

Hmmm. That is interesting. I am working on a post on debt collection practices and I hope to get to the bottom of this. Stay tuned to the blog.

DanB

I remember reading somewhere that Prosper was intending to hold on to their bad debt portfolio until such time that they could get more than a just a Happy Meal for them............but that was during the '08 meltdown.

TravelingPennies

Dan, Always appreciate your help....but I think I will pass on this investment opportunity.


TravelingPennies


TravelingPennies


NEW LOANS:   | 870.eth 2.500 Ξ | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | ALL