Prosper Update: 1 Person Late (<15d)
Tuesday, November 07, 2006
When I checked my Prosper.com account late last night I expected to see all 13 of my active loans to be Current. Was I ever shocked to see that 1 loan was Late (<15d). This is the first time I had seen this, but it means that this person's repayment is late by more than 1 day but less than 15 days.I didn't want to be bothered by something like this too much so I simply sent an inter-Prosper mail saying:
Please make every effort to make the payment on this loan.
And I left it at that.
This morning I delved a little farther. At the origination of the loan, this person had 1 current delinquency, 10 past delinquencies, only 3 lines of credit, and wasn't a member of any group. Shame on me!
| Credit grade: | C | |||||||||||||
| ||||||||||||||
| Debt/Income: | 4% | |||||||||||||
This was one of my first loans so I still didn't know what I was doing. I have since increased my standards. I now no longer lend unless the person is a member of a group and has significantly less delinquencies. The good part about the loan is that it is a C credit rating at 22.90%.
Later this morning I got an email back from this person.
Payment was made yesterday. Sorry, I changed jobs and my first payday fell on the 2nd of the month. I am in Iraq working so there shouldn't be any more problems. It just took a while to get my first paycheck. Thought I had it covered.I confirmed his payment by looking under loan details. There is a small  next to today's date.
Thanks,
[Name withheld]
 = in transit.
Date | Payment number | Amount paid | - | NSF fees | - | Group reward | = | Amount received | Fees | + | Interest | + | Principal | - | Service fees | - | Collection fees | = | Net received | Resulting principal balance |
| Nov-07-2006Â | 307336 | $1.93 | - | $0.03 | - | $0.00 | = | $1.90 | $0.00 | + | $1.44 | + | $0.46 | - | $0.03 | - | $0.00 | = | $1.87 | $48.36 |
| Sep-21-2006 | 222981 | $1.93 | - | $0.00 | - | $0.00 | = | $1.93 | $0.00 | + | $0.75 | + | $1.18 | - | $0.02 | - | $0.00 | = | $1.92 | $48.82 |
From what I can tell there is a $0.03 NSF charge that he also has to pay. But it seems like it may go to Prosper not me.
posted by johnwilkx, 10:10 AM
2 Comments:
commented by 
Tiredbuthappy, Thu Nov 09, 07:41:00 PM 2006
Tiredbuthappy, Thu Nov 09, 07:41:00 PM 2006
All paid. :) I'm back to having no late borrowers.
Good idea sending the borrower a note. I usually just obsess on the late loan but don't do anything about it.