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Terrible experience with Prosper. They wanted info. Then access to my bank account login. Then copies of paychecks. Then more and more and more and more. I quit the process and will never consider using their services EVER. They also did a hard inquiry on me even though they specifically stated that one would not be pulled. RUN and do not use Prosper.
I wish zero stars was an option, but I chose 1 only for there is not zero. This is the third envelope to arrive at my home from Prosper in envelopes with this same appearance. How sad, and angering, it is to have a company practice deceitful moves such as this. They have stooped to placing business solicitations in plain white envelopes with a fake USPS official delivery sticker(not a sticker like USPA real ones, but printed on envelope), no company name, but an address, and a fake stamped "final attempt".
I feel this is their sneaky way of directing citizens to open their envelope when the citizen probably would not have opened it if their name was present on the envelope, and the envelope did not give the appearance of being something of importance. They make it look like a dun. Like it is a final attempt to collect unpaid funds before progressing to the court system. This is wrong. Just wrong. And, I want my mail carrier to know that I pay my bills on time, and have a 100% on time record with the credit bureaus. Something should be done about businesses who have to stoop so low in order to garner new business. What do you think of this business tactic?
Well I applied for Prosper loan and the girl that took my information in the application department approve me for more of a balance than I wanted so I said, “No I don't want that amount. I only want the certain amount.” So she said, “Okay,” and she took all my information. She said, “Somebody from the verification department will be contacting you,” so two days later three days later they called me back and they verify everything and they said, “Well we have some information incorrect. We're going to have to cancel your loan and restart a new loan.” So I said, “Okay people make mistakes. Fine.” So we restarted the new loan. I was still quoted the amount that I wanted.
They tried to still get me to take more and I said no and I did the 3-year commitment but with the loan that I got I'll have it paid off faster so after we did the application again I made the representative read back all the information that I gave them to make sure there is no confusion. That went through fine then they sent me the website email and you have to go in there and download like your source of income and all that. I tried that. Some of my stuff did not go through well so what I did was I called in and give me my account number and I faxed everything to them so they could download it to the system and I didn't have an issue with them telling me it could take a couple days to get downloaded to the system.
So then I get a phone call saying I need to get a counter check from my bank. So I went and got that and then they needed to verify my bank account will my policy and my bank is outside lenders are in even any like where my apartment building is when they needed to verify my bank. They had to fax the request to my bank of my bank will send the reply. I cannot request that so the supervisor that I talked to said, “No I'm just going to go ahead and get the loan approved,” and I was like, “Okay but I would prefer that you faxed a request over so when I got the confirmation that my funds were going to be put into my account.”
What happens again but they enter the wrong account number so then I had to call the escalation department and ask them to correct my account number and they did and then they sent me an e-mail and it was updated and then I got a call this evening telling me that, “We updated your information but unfortunately since we had the updated your loan will not be deposited.” It may take up to 5 days for it to get into the system meaning that it will be deposited into my bank account and they verified my account number my routing number again my day you know so I asked, “Am I being charged interest while waiting for this to go through my account,” and they said yes. So I said, “Get a supervisor on the phone.”
So I said, “You need to put a stop to this interest that I'm being charged cuz I haven't received any money and I'm not paying it now.” See this is where I said I think they do this on purpose to try to get extra interest but I'm no stupid fool so if it isn't deposited by next Tuesday I'm going to cancel my account and I've already going to contact the Better Business Bureau. You have two when I went on the Better Business Bureau to see who I would file a complaint. It's in San Francisco so I have to call San Francisco did you your complaint with the Better Business Bureau but the FTC you can also contact them but to me to go through all this paperwork and set up an account and I already have like a Payday and they confirm my date and my interest rate.
I'm sure that my loan will go through but I had to stay on top of them to make sure that all my information remain correct. That's one thing I recommend to anybody. If you apply with them with any loan place but we'll see if my money gets deposited. If it sounds like I don't think it's going to I think they're playing a little game but my thing is I haven't received funds and if they think they're going to get a little bit of Interest money out of me I've already told them that I will get a lawyer and I've also notified my bank. You know I'll no excuse me I will notify my bank of them trying to withdrawal money. That's fraud.
Please be aware of the fraudulent practices of this company. They will contact you by phone stating you are eligible for a loan of $8000.00 with a repayment of 245.00 for 36 months, making the payback of $8820.00, which is not too bad, but the kick comes when they tell you what you have to do to attain the loan. They will send you documents via e-mail with information pertaining to your loan. They then tell you that they will put x amount of dollars in your bank account first in order to secure the loan.
They ask you to go to a Walmart or a Target store and purchase a gift card that has to be loaded with those funds therefore supposedly securing your loan showing that you have good faith in giving back the money, but what you don't know, while they were getting all your personal information i.e. bank account #, routing number name and address etc for the loan, they contact your financial institution claiming to be you, and have various transactions that you have already paid reversed, therefore that money that you think they put in your account is actually your own money. After you have loaded the gift card they ask for all the transaction information of the receipt therefore giving them access to that card, and you are left with no loan and money being scammed from your bank account. Please I ask you do not do business with these people you could be sorry. I was a victim and will not be again.
I went online to apply for a loan & was emailed/contacted by Prosper stating that I was approved for $5000. I was instructed that in order to receive the funds, I would need to pay PPI (Payment Protection Insurance). This would protect me & them in case I was not able to pay the loan's monthly payments. I was instructed that this amount needed to be paid & could not be taken out of the loan. I did not know any better, but did voice my concern, that I felt uncomfortable paying the amount, I was told by the rep that if the amount was not transferred into my account within 45 minutes, I could cancel the transaction of the PPI.
Well after a complete runaround, the loan was never transferred into my account & I was not able to cancel the payment of the PPI. I was told that they could send the amount to Western Union but I would have to pay the fee, which was over $400 & again that amount could not be taken from loan amount. I explained to them that I did not have it & was not going to allow any more payments to them. I accused them of fraud & the rep hung up on me.
After a week & half & numerous phone calls & emails I was promised the refund of the PPI, but of course I got the complete runaround. They are a complete scam & once they have your info & routing & banking info they will fraudulently log into your online banking & basically steal your identity. They are unethical, immoral, criminals, not legit, & are somehow allowed to continue taking advantage of people in need. Please be aware of PROSPER LOAN SERVICES at email@example.com, Ray **, who is the head loan rep at **, Sean ** & Hugo **... Please be on the lookout & do not fall to their scam... IT WILL RUIN YOUR LIFE & they will sit & laugh at you while they give you a runaround!!!
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I have paid over $5k to get the top coaching in the world according to Prosper. Let em tell you, I am now successful thanks to ME doing my homework and building my business from the ground floor up. But, I hoped that I would get value for money, when all I got was a guy asking me the most basic questions ever. To be honest this is what made me want to be the best in my niche. Thanks to the great training I have received since then I am thankfully able to help others. No thanks to Prosper who took my money and didn't help me change my life. DON'T SPEND YOUR MONEY with them, go to the coaching bodies like the ICF and find reputable coaches and you will find what you are looking for in your area. Hope this helps! All the best.
Prosper expert review by Barbara Friedberg
Prosper is the country's first peer-to-peer lending marketplace. The company has provided more than $2,000,000,000 in loans. Loan interest rates range from 5.99% for the most credit worthy borrowers to 36.00% APR for consumers with lower credit ratings. Borrowers can obtain loans from $2,000 up to $35,000.
Financial and social rewards: As a peer-to-peer lending site, Prosper allows individuals and groups to lend money to their peers. Lenders reap both social and financial benefits from lending as well as greater returns than they would receive from a bank. This encourages people to fund loan requests. Borrowers understand that their loan is funded by other peers, not a traditional banking institution.
Easy rate retrieval: Customers quickly find out their loan interest rate by providing basic information online. Those borrowers with higher credit scores typically receive lower interest rates.
Simple funding process: Customers quickly find out their loan interest rate by providing basic information online. Those borrowers with higher credit scores typically receive lower interest rates.
No collateral required: Borrowers from Prosper don’t need collateral in order to qualify for a loan. Their funding is based on credit history as well as a few additional criteria.
Reputation: Prosper is Americas first peer-to-peer lending company and has a reputation for being a trustworthy and dependable personal loan company.
Best for: People looking to refinance debt, individuals starting a business, consumers facing financial hardship and those looking to finance a major life event.
Prosper Company Information
- Company Name:
- Year Founded:
- 221 Main Street, Suite 300
- San Francisco
- Postal Code:
- United States
- (866) 615-6319