Prosper Reviews

Preapproved for a $10000 loan. Go through the process and while completing the bank questions my account was suspended. On the phone for 2 hours trying to find out the reason. Every person I talked with told us an email was sent, which we didn't receive. We were switched from one department to another, from one boss to another (this place has more people in charge than the government) and they all just read from the same script. I didn't even finish filling out the application and got suspended, but they made sure to run my credit score. They said that it looked like there was further documentation needed (maybe like the documentation I was in the process of providing?). What a joke. Then after talking to last big kahuna and hanging up in disgust, we get an email stating that they have successfully connected to our bank account (Why!!!). Now I get to worry about them having my account number. Great.

We found Prosper thru Lending Tree. It was a fast and friendly process. I definitely highly recommend them to anyone looking for a loan. The terms are very affordable for only three years. I would definitely use them again in the future if I needed another loan.

Great service and response. Very helpful and walked through the process in detail. I received call back and notifications. Didn't take more than a week. After submitting my request I was receiving multiple response from different lendings making it easy for me to decide with was best for my budget.

I had a loan with them establishing good credit with them. Paid off in full, in good standing. I kept getting cards in the mail to take out a new loan. Since my previous loan my income went up substantially with no lates on my credit report. I applied for a new loan, was denied, then re routed to AMOne, then they transferred my call to a "Debt Relief Company" and, since I have never been late on any of my Creditors and am not in a financial hardship, I told them I am not interested as these companies call you creditors to settle on a lesser amount, then close your accounts. All my credit accounts are and have been in good standing for many many years. Their goal would have been to damage my credit. Prosper should not be allowed to mislead Consumers by steering them to these companies. Stay away from this company.

They processed two payments. Which put me in a negative. Cost me 68$ in late fees threw my bank. Would not reimbursed. Because it was past the due date of the loan. But because of their mistake cost me money. Even received a emailed stating one payment was made. Then when I talk to customer service they told me emails are Courtesy. Could not explain why I only got one confirmation instead of two. Being they took two payments. Would not recommend to anyone.

I have called Prosper every week for a month and a half now trying to get my investment funds transferred to my checking account. Each time they have a different story and different date to when the funds will arrive, but they never do. I have been using them since 2012 and they have done nothing but go downhill. They are most likely about to shutdown. You should not borrow or invest with them. They may sound polite when you call them, but they are absolute liars. AVOID Prosper! Do not invest and do not borrow. They are the devil.

Invested $10K with Prosper in 8/2017. Set up balanced profile of auto investments at $100 each with mostly high-end rated loans. Average rate 13+%. 130 loans of $100 each, 7 of which defaulted. That $700 investment resulted in $2300 of write-offs (losses). Huh? And on two 1099 interest statements over the last 2 years I paid $600 in taxes on "interest" of $1500 I never received or could see reflected on my account. Now 2+ years later my account is $10,200 (I stopped investing in new loans), a -.42% return by their calculation, but closer to -1%. I can get a better return on my checking account.

Someone used my info to apply for a loan with Prosper. After confirming that this was a fraud - and me filing a case with FTC, Prosper would not tell me how much the loan was for?! I am trying to file a police report for heaven's sake! The rep was totally clueless and when I asked for a supervisor, he came back to say no one was available to provide me information. Whose side is this company on??! AVOID.

I've taken 3 loans from Prosper over the last 5 years and have had a perfect experience every time. The first time I was buying my first car and was not interested in buying from a dealership at inflated prices, and I was also afraid of the risk of losing my means of transport if I lost my job or something else happened (sorry, grew up in the hood and saw it happen constantly). I was willing to pay a premium to be able to pay cash in hand and buy whatever I wanted from a private seller. The next time I had credit card debt and wanted to refinance it and buy a new car after my first one flooded while I was at work. No hiccups. Perfect process.

This is the worst company I’ve ever dealt with. They have rejected my online payments 7x now. I have emails and was told over the phone, "Your loan is PIF." Then it is pending for 10 days. They reject the payment and ask for a check that will take at least 10 days to process. They never told me they were rejecting the payments. I can see the payments taken out from my Wells Fargo acct then returned. Mind you they get to charge extra interest that way.

I own a home and I inquired about a loan over 5 years ago and offered me a ridiculously high interest rate, over 20%. I declined. Ever since that day I haven't stopped getting junk mail since, 2-3 a week. They even followed me when I moved.

I called them today for a second loan. First time interest rate was 5.65%. Today, my credit is above 750 plus so I called them again. They approved an 18,000 dollar loan within minutes and quoted me an interest rate of 19.5%. They are nothing but loan sharks. Borrowers BEWARE!!!

I've been an investor on the Prosper platform now for about 4 years, and I've got a bit over $25k invested. I never expected stellar results, but wanted to beat generic HYSAs, so it was good enough. I brushed aside the hidden smarmy fees, the high rate of defaults, and petty annoyances like dealing with the tax reporting, for a return of 3-6%, depending on the year.

As an investor, they take 1% off the top. I knew of this as they advertise it. What they don't advertise is that they take about 10% of what you earn in "Service Fees". When your $25 fraction of the loan gets a payment, you might get 0.20 - 0.30 cents in interest for that month, but when they "deposit" it back to you, they charge you $0.02 "Service Fee" FOR EACH AND EVERY NOTE!!! Once I'm paid back, I'm out.

I was curious about lumping my recent credit card debt from a home purchase into one low monthly payment. I completed a few questions to see what my monthly payment would look like. Shortly after, someone called and told me he could only get me 17,000 at 700+ per month for 3 years. I said, No thank you and hung up. That weekend I checked my bank account (as usual for discrepancies/fraud). Prosper had placed $20,500.00 minus transaction fee in my account! I had surgery the following Monday and was not released until yesterday. I called them today to say I never authorized this transaction and they tell me I had 7 days to respond/change my mind and since it has been more they want the week's worth of interest and transaction fee!

I have had two loans with Prosper and I have had no issues. The first time when my credit wasn't all that great and I got an APR of 15.9. I set up auto payments and was able to make additional payments as I could. Before I paid off the first loan I took out a second loan and since my credit has now improved I received an APR of 11.5%. I have since paid off both accounts. There are no prepayment penalties and all the information you need on your loan is available thru their website. I will probably use them again in the future.

An “extra” payment was taken out of my account this month for no reason. I have tried contacting them 5 times to find out what happened. No one will respond to me. I would not use this company if you expect good customer service.

So I got a $10000 loan from Prosper, 36 months at 35.35% APY. Worst mistake I ever made. Made the 1st payment as agreed on the 8th. Noticed my principal balance was $10027 when my 2nd payment was due the next month on the 8th. Made the 2nd payment. So when I was ready to make my 3rd payment on the 8th of the next month, noticed my principal balance was now $10083. Have been making payments for 3 months and my principal balance is not decreasing. I called customer service and asked for an amortization schedule and they were no help. They could not explain why my principal balance was not decreasing nor would they provide amortization schedule. Beware of this company.

I was constantly receiving offers from them that states that they would lend me $30k. I have great credit score, 100% payment history and they still denied my application. I would highly advice any person that received any to avoid applying for personal loans provided by Prosper. Stay away. I have a doubt that they are just trying to gather secure documents like SSN and address from applicants rather than helping the qualified people in need.

Do not get a loan from this awful organization. They will lie at every turn and will do everything in your power to stop you from paying off your loan. They take every extra payment you make and apply it to interest instead of the principal. After making a payment you will see your loan amount increase instead of decrease. I have never done business with such an unethical organization.

I have had 3 separate phone conversations today trying to move forward with my approved loan. However, when something did not feel right about the information I was being asked to provide, I asked for an explanation but did not get one. The call was transferred to another person who could not give me an explanation either - instead just pushed for my bank information. Instead of giving this, I asked to review the loan documents first. These were promised to be emailed right away. In the 30 minutes I have been waiting for said email, I have had plenty of time to research the number the calls originated from. Not a loan company. Not even an office. The number is registered as a private number of a gentleman who has been deceased since 2015. Seems to have SCAM written all over it!! Wonder if I EVER get that email?

Wow, I am reading all of the complaints on this site. And I have never experienced any of it. I currently have a loan with Prosper which started in 2016. They never asked me for any pay stubs. All they needed was proof that I had a business. They ran my credit, verified that my bank had been open for more than 3 months by me calling with them on the phone and bammm the money was in my account 3 days later! I received a 15,000 loan. Interest is kinda stiff but my tenants pay for that. Since, I've never received a call from them, they didn't harass me during or after the transaction was complete. I've never gotten a call from any Asians or anyone for that matter. I dealt with English speaking people during the deal. I didn't feel pressure, it was like a normal transaction. It seems like someone is scamming and pretending to be Prosper, maybe there's a fake website out there.

I searched for personal loans through Lending Tree, and Prosper had the best offered rate so I decided to apply with them. Following my application, they called me at work to verify my employment and then followed up with an emailed request for supporting documentation for my paystubs from my full-time and part-time jobs. I supplied my FT job's stub and let them know I would turn in my stub from my PT job the next week after I was able to pick it up. I received an email every single day since then for a week reminding me to turn in the documentation, as well as a second phone call AT WORK asking for the document.

I got a call from an Asian guy who I don’t remember his name! He caught me off guard by saying I was approve for an 8,000 dollars loan. I told him I’M NOT INTERESTED! He said, “Why not? You don’t want 8,000 dollars deposit in your account right now!” He ask me, “Didn’t you recently apply for a loan online” and I told him, “Yes but I don’t need that much!” So he ask me how much I could use. I told him 2,000 and he told me what bank I bank from so I said, “Wait a minute. What company this is?” He told me Prosper services and I was in front of my laptop looking them up, came across a bunch of bad reviews and he told me to hold on!

August 29, 2018 at 9:23 PM. Got approved for a loan. Spoke with Sean **... Paul ** & Jason ** (all Asian men). They told me I had to pay insurance. So they made 3 deposits into my checking account ($450), ($895), ($895). With each deposit they told me to withdraw the money & load on a Google Play card. I did. Now my account is $887 in the negative because the last $895 they had me withdraw $800 & my bank told me what they did was manipulated the system to show I had cash available...when in fact I didn’t. Sean ** sent me an email stating they would take responsibility for the negative & I would receive my loan.

I am not sure why I continue to receive anything from this company. After looking them up, I have never requested or reached out to them for anything. Complete scam to targets consumer information. I will seek legal action this company.

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".

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.

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.

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.

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.