Comments on: Prosper Marketplace Enters Quiet Period

By: Barbera Yoshioka

Barbera Yoshioka — Wed, 09 Dec 2009 22:05:56 +0000

An fascinating post well worth the understand – the number of credit cards ought to be relatively small, but it is usually better to have added than one. Having too much credit available makes you seem risky to creditors, as you could promptly and easily burden yourself with more debt than you can handle. On the other hand, if you have only one credit card available to you, you are more or quantity at the mercy of the issuing bank’s conditions and conditions. By having added than one card, you are letting the bank know they are not your only credit options.

By: Mike Andrews

Mike Andrews — Fri, 26 Dec 2008 18:07:51 +0000

Prosper must have some serious issues for them to be stuck on hold.
Consider one issue may be the fact that they provide you a performance indicator based on your earnings less any charge offs. But wait, they mysteriously don’t include all the charge offs, artificially bloating (Read that as an intentional overstatement) of your return. Hey, doesn’t the SEC have a word for intentional mis-statement? I think they define it as Fraud.

By: ooopinionsss

ooopinionsss — Wed, 03 Dec 2008 11:45:51 +0000

How you think when the economic crisis will end? I wish to make statistics of independent opinions!

By: Prosper Recieves Cease and Desist Order from the SEC | Personal Loan Portfolio

Wed, 26 Nov 2008 19:34:28 +0000

[...] that Prosper was already in a quiet period and no longer talking bids on loans, this seems like an unnecessary step by the SEC, but they may [...]

By: Personal Loan Portfolio

Personal Loan Portfolio — Fri, 17 Oct 2008 03:55:35 +0000

Genette, I think that most people were completely surprised by this. I remember being a little angry at some point after Lending Club announced their quiet period, but that seems to be the modus operandi for the procedure. So I am not surprised by the way it was announced. It is unfortunate that Prosper has your money stuck in limbo on a loan that won't fund. They cannot comment on the quiet period or the SEC filing but I do believe that they can respond to customer service issues, so you might want to write them. They need to cut your money free so you can withdraw it. Even if they don't, you should be able to withdraw it when the listing fails to fund. I am not sure about the loan in "pending review" status. Again, I'd email them because this sounds like a customer service issue. However, in the case of Prosper "customer service" issues are about "investments" so they may not be able to respond. Hopefully, though if you do email them they will at least respond by taking some action. Good luck to you.

By: gennette

gennette — Wed, 15 Oct 2008 15:12:03 +0000

I just started using Prosper and this quiet period blind sided me. Did they mention earlier that this was possible, and I missed it? I currently have a bid on a listing, but it looks like the listing won’t get funded now because no one else can place bids. I wish I could just withdraw that bid and my money so I can put my money elsewhere. Instead it’s stuck in this dying listing that has no hope of being funded.

I also have a bid on a listing that ended but is “pending review.” I’m now wondering if this review process (which is says should last “up to 7 days”) will be indefinitely stalled. That is, will my money just sit there doing nothing but still preventing me from withdrawing it?

Heh, I don’t know if anyone out there has these answers, but it seems that Prosper will not be allowed to answer these questions. Too bad they didn’t think to address these situations in the statement they released.

By: P2P-Banking.com » Prosper enters quite period for registration statement filing

Wed, 15 Oct 2008 12:30:10 +0000

[...] Further coverage at Prosper Lending Review and Personal Loan Portfolio. [...]