Prosper
Reviews and Complaints
Money scam
SCAM!!!!!
Wasting Time with Somebody Lying to Me is not a Hobby
Scam Crooks
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer | Roswell, GeorgiaProsper is a ripoff
Preferred solution: Full refund
Charged me late fees when I did autopay and had funds availa
I was waiting for Prosper to take out the funds from my bank. However, nothing came out, I checked 5 days later, and noticed the money didn't come out of my account and they put insufficient funds and charged me a late fee.
I don't habe problems with paying my credit cards from the same account, and I have the bank statement to show there's more then enought to pay them back.
So, I called 4:19pm ET, and looked on their website with shows they close at 5pm ET, and get a message that their closed and their on Pacific Time. I hope they get cought and pay everyone they own back.
Bad Experience & Bad Returns on Investment
Put your money elsewhere if you are a lender looking for returns. I invested in what I thought was a conservative basket of loans with AA and A ratings as a test. Here I am just shy of 5 years later with some lousy results.
Breakdown by the Numbers:
Loan mix AA to A rated loans - 45% AA, 55% A
Defaulted Loans: 36%
Annualized net returns -13.18%
Their rating system is obviously broken and their screening is immature. If I had to guess, these are all probably high risk / low quality loans. Would have been better off sinking the funds into just about any index bond fund. In my case, I would have been better off buying US Treasuries or just keeping my money in a 0.2% savings account.
Really glad I didn't invest real money in their poorly managed business that fleeces investors, and appears to also harm their customers. Shame on Prosper for only looking out for their own prosperity with this broken business model.
- Low credit quality
- Poor returns
- Misrepresent investor returns
Preferred solution: Let the company propose a solution
Confusion and miscuminacation
Well I applied for a loan my credit score good and I got approved but the application Department put my wrong income so when the verification Department contacted me the girl told me will we need to cancel the original loan and do a new loan so I said okay no problem so we started a new loan and I got approved for the same amount that I was requested and then they sent me an email and I set up my account and they wanted me to e-file my documents well I called in and said can I also have a fax Department to fax my document so that way if they come across, not looking good on the e-file at least I faxed it so I faxed over everything but my transaction report from my bank did not come across good so I'm glad that I faxed it but then they started asking me we need to verify your bank account well my bank account does not allow verification over the phone Prosper would have to fax in a verification form so I got the verification form and I mean the supervisor of prosper in the verification department on the line because the girl that I was speaking to in the verification Department got a little rude and I was like I'm not putting up with that so when I got the supervisor on there she said I explained to her my complaint in concerns so I also had a counter check from my bank so I fax that in and the supervisor said I'm going to go ahead and approve your loan and she looked at my transaction papers and then tonight I'd look on there and they have the wrong account number so they approve me for the loan they have me set up for the loan to go through in the next two to four days but they need to update my account number now I spoke with the application department and they told me that you have two to four days to make sure everything's correct before they even put the money in the account so I had them get a supervisor on the phone and I explained to her my account number and I said you should be able to go in there and see it so she was very nice and she went in there and saw it and said I'm going to have this escalated to make sure that they have the correct account number for your bank cuz they didn't have the correct account number so they also told me in the morning to call and speak with them so the only thing I've been a little annoyed with this is the inconsistency of people not entering correct information and not paying attention to what they're entering but I have they are not rude they're very professional and I can you know for a $2,000 loan they're very reasonable so I'll have it paid off before it's due in the three years now tomorrow I have to call to make sure that they get this corrected because I'm very on top of this but I can tell you that around tomorrow I will contact them and if they continuously give me you know because it shouldn't be that hard my transaction report has my account number I faxed over the counter check with my account number I don't know how they went in there and added the last two digits incorrectly I think somebody was in a hurry I don't know so I'm going to get that corrected and then they said they had still have two to four days to deposit the money so hopefully I'm doing it in the right time and they can get that corrected if by chance I run into another problem I'm going to cancel my loan and I'm going to file a complaint with the Better Business Bureau cuz to me this is a bunch of crap you know I don't know how clear and to me it's like playing a game and I'm not begging for anybody I just wanted to get a loan to pay off something a little faster and I need to get a few things and it won't take me long to pay off $2,000 especially when if you put more down as your down payment and you pay more every month and I advise anybody that gets a loan from Prosper or any loan place if they set you up at $78 a month or let's say $50 a month pay $100 a month pay a hundred fifty if you can the quicker you do that the quicker your loan gets paid off because the interest is will will get you so even though it's three years on my loan $2,000 my first down payment to prosper is going to be 500 and then you know cuz I have a little money saved so I just advise everybody with any loan company make sure when you're giving them information they repeat it back they have a correctly and you follow up don't be scared to contact them and say hey what's going on with my loan if you haven't heard from them and if they do call you make sure that they have everything correct cuz that's been the biggest complaint with prosper otherwise they are very professional very nice know I'm sure if anybody's account goes to collections but everybody don't take out more of a loan than you need and don't do a 5-year loan do a 3-year loan to get it paid off faster it also
Vulgar
I received a text message from Prosper loan company saying that I was approved for an $800 loan please give them a call they were looking for someone named Daniel Edwards whom I've never heard of I returned a text stating that I did not know who a Daniel Edwards was that I thought that they had a wrong number and please take my number off of their list the return text I got from them said .. *** you and *** your wife mr. Edwards I asked again that they stop contacting me and and the reply I got that time was I want your wife the messages are continuing and I'm getting more vulgar by the message if this is a real loan company it is very unprofessional when I called the number back to see if I can speak to a supervisor to get my number taken off the list or at least this man to leave me alone what I got was a message about a magic box customer was unavailable so this isn't even a real number
Prosper loan scam and card scam
I thought I give an update about what I have accomplished so far about this prosper funding loan site so-called scammer at-large yet probably scamming other people for game cards and tries to promise them loan. Oh I'm going to advise anyone do not mess around with...
All the sudden I see in my account right today Money pending and two of my checking accounts I'm not touching this and I want him found he's a scammer I don't know how he did this only that he got the information off the Prosper site that he has up when I filled out the loan to see if I could get the loan but I was told I couldn't get the loan. So he's using this site to lure people in. Well he said if I want to get my loan for a 5000 I would have to go buy for $50 cards or gift cards I didn't do it my son told me it was a scam I realized it was a scam when asking for game cards cuz loans don't go that way. But the money is in my bank account right as we speak in pending and this does not make me happy I didn't sign anything he threatened me over the phone that he'll freeze my accounts I believe that this however he put this money into my account is not by check and I don't know if it's even real I don't know until I have this investigated by the bank to find out all I can say people do not think there are a real loan company they're not and they get your information if you sign on to their prosper page for a loan it will be the worst experience you ever had was scammers.
When they start asking you to buy game cards there's something wrong I didn't go through it and that's one good thing but the money that's in pending I don't even know if it's real I don't know where it came from it could be an offshore account as far as I know I don't know. But I'm not touching that money because something's definitely wrong. And I feel for anybody that has been scanned by people it does happen to the best of people but the call people idiots is not right because one day you will be played as a fool thinking it was real and it's going to slam you in the face hard. I want this person and I want him put away because he's been frotting a lot of people lying but I don't get how they could send into my account this kind of money when I did not sign any loan documents this is not my money it's theirs or what if this was some people that they've been scamming money off of we need to find this person and he doesn't need to have his *** beat.
The last thing I do I hope the bank and find out who he is that's sent this money whoever and wherever it came from and it can get out of my account and go back to wherever it came from.
I need to get a lot of feedback we need to stop this scamming loans and people that say that their loan officers and they're not taking advantage of good people is not good practice but got to expect it out in this cruel world anymore. Thank God I didn't sign any contract with these people but they got my info and I'm going to have to do something about it the stop them.
Very very bad service horrible
DO NOT go to Prosper for a loan!!!
I had filled out an application for a debt consolidation loan. I stopped at a certain point because I wanted to check out some reviews.
The reviews were not at all favorable and I decided not to go with them. I didn't sign anything, or send them anything. I immediately contacted them and told them to cancel my application that I was no longer interested in going with them. The next day they did a credit report on me for a loan that I no longer wanted.
My credit score went down and if I want to go to another loan company, they will do a credit check and my score will go down again. I have been working very hard to get my credit score up in the 700's and with one lousy inquiry about a loan, I have to fight to get it back up there.
I don't understand the purpose of why they would do a credit check when I was no longer interested. Were they pissed because I took my business away from them and they got even?
Stay aware from prosper. Fraudulent.
Fraud or not?
DONT UNDERSTAND
Preferred solution: Let the company propose a solution
Thank You for Your Reply! We are processing your message.
Your comment is successfully posted.
Prosper is not a scam, but if you use a search engine, you will get scams 100% of the time.
I'VE BEEN GETTING THEIR OFFERS IN THE MAIL CONSTANTLY, SO I WAS ABOUT TO APPLY, & MY MIND & HEART SAID, I BETTER CHECK THIS OUT FIRST, THANK GOD I DID! AFTER READING ALL THESE REVIEWS, THERE'S NO WAY IN *** I WILL APPLY FOR NOTHING FROM THESE PEOPLE!
THANK GOD PEOPLE POST ABOUT COMPANIES LIKE THESE!
I JUST WANT TO THANK THEM , FROM THE BOTTOM OF MY HEART, I'M SO SORRY THEY HAD TO GO THROUGH THIS BS! BEFORE THEY FOUND OUT THE TRUTH!