tag:blogger.com,1999:blog-2211186543498959369.post3771510029848645327..comments2023-04-21T23:01:35.558-07:00Comments on Fred93's Blog: Prosper.com - Paradise Lost; Deadbeats WonUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2211186543498959369.post-57574419186544331292013-02-01T10:59:23.797-08:002013-02-01T10:59:23.797-08:00A belated update: Doug Fuller left Prosper in 2010...A belated update: Doug Fuller left Prosper in 2010.Bugleyhttps://www.blogger.com/profile/09427335457570912186noreply@blogger.comtag:blogger.com,1999:blog-2211186543498959369.post-34652723917241854862011-05-09T12:04:41.788-07:002011-05-09T12:04:41.788-07:00I joined Prosper as a lender and learned a painful...I joined Prosper as a lender and learned a painful lesson. Some people, borrowers, saw a huge opportunity to get free money with no way of getting caught for stealing. Out of 65 loans so far 29 totaling 983.41 dollars in write offs and apparently no one to track down these dead beats. Thank God I will see the end of this night mare with my monatary loss of 380.00 dollars.thomashttps://www.blogger.com/profile/03953413782402284549noreply@blogger.comtag:blogger.com,1999:blog-2211186543498959369.post-84212174402709838832009-12-30T12:30:10.222-08:002009-12-30T12:30:10.222-08:00Fred: I always enjoy reading your comments and ana...Fred: I always enjoy reading your comments and analysis, and guess that I'm one of the shrinking majority that borrowed from you and other lenders via Prosper, and have continued to pay on time over all of these years (despite the economic challenges). <br /><br />I doubt there's some way to screen people via an "ethics test", but the fact that dozens of lenders trusted in me and my goals has been something that I work hard to honor each month. Clearly a large proportion of borrowers don't have that anxiety about meeting one's obligations, but there are still a large group of those that have found the need for a tool like Prosper (and my guess is that the coming years there will be even more people like that, with the damage that's occurred to credit ratings in the last 12 months). I hope others can find a way to meet this need, and still protect investors like you.Crossborder-Kennhttps://www.blogger.com/profile/09814915622534423167noreply@blogger.comtag:blogger.com,1999:blog-2211186543498959369.post-25228042291459523932009-11-15T08:17:17.114-08:002009-11-15T08:17:17.114-08:00I had a very well diversified portfolio of about $...I had a very well diversified portfolio of about $10,000 invested over 2 years ago. I lost over 20%. What a "learning experience". I'm out.toastsidehttps://www.blogger.com/profile/04043556610192341332noreply@blogger.comtag:blogger.com,1999:blog-2211186543498959369.post-21624961665133288292009-11-12T16:20:11.456-08:002009-11-12T16:20:11.456-08:00I will consider myself very lucky with 11 loans, a...I will consider myself very lucky with 11 loans, average 14.4% return and defaults (knock on wood). That said, I hand picked every loan over 18 months ago and haven't touched the portfolio since.<br /><br />Back the point at hand .. if these default rates are accurate, Prosper is likely as good as dead unless the management comes up with some amazing way to filter out future deadbeats. I have some ideas on this and as I watch this story unfold, I'll continue to refine those concepts into a better business plan waiting for prosper to fold.Mike Andersonhttps://www.blogger.com/profile/10905578414544593687noreply@blogger.com