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 Who are the borrowers?
A Prosper borrower is any person who is a U.S. resident with a bank
account and a social security number. After passing Prosper's
anti-fraud and identity checks, borrowers can request unsecured ...
- Do I have to pay taxes on the money I make at Prosper?
Your income from group leader rewards is of a type that is normally
classified as taxable income. Every tax year that you earn more than
$600 in rewards, Prosper will send you a 1099 form summar ...
- Can I remove an account from the system?
As a borrower or group leader, you must always have at least one bank
account available at all times. However, if you have recently added and
verified a new account, and would like to remove the ...
- Why can't I change my name or Social Security number on Prosper?
If you have already gone through the process of having your
identity checked with Prosper (for the purpose of becoming a borrower,
lender, or group leader), you will not be able to update your n ...
- What is the loan delinquency schedule ?
Below is the schedule that Prosper follows in the event of a borrower
missing a payment due to insufficient funds (NSF). At any point in this
process, if your outstanding payment is paid in full ...
- What are HR and NC credit grades?
HR = High Risk. These borrowers have a credit score below 540, which many traditional lenders consider to be high-risk.
NC = No credit score. These borrowers have no credit score
because of li ...
- How do I place a manual bid?
To bid on loan listings, you must be a registered lender, and you must transfer funds to Prosper before you can start bidding.
Once your account has funds for bidding, you are ready to go!
Simpl ...
- What happens if a borrower misses a payment?
Each month, your monthly loan payment is automatically withdrawn from
your bank account on file. If you receive an email from Prosper that
your payment failed, it means that your account has ins ...
- What are the different loan statuses?
All Prosper loans are three-year loans. Borrowers are required to make
monthly payments for the duration of the loan, unless they decide to
pay the loan off early.
Payment status levels inclu ...
- How do I get started bidding on loans?
Before you get into it, view a tutorial on lending money.
Just go through the lender account setup to get started.
To become a lender, you must be registered with Prosper. If you are
not re ...
- How do I create a standing order?
There are a few ways to get started on creating a standing order:
Go to the "Lend" tab and click on the "Create Standing Order" sub-tab.
Go
to the "Lend" tab and perform a search for listings ...
- How do I read my lender statement?
Statement layout
Your lender statement is a snapshot in time of your lending
account. The statement is created as of the end of the day (11:59 PM)
on the last day of every month, and is mad ...
- Is there a way to tell if a loan passes or fails verification?
For the safety and security of the marketplace, it is important that
Prosper makes every effort to ensure that all individuals participating
in the marketplace are 1) a real person, and 2) ...
- How do I read my borrower statement?
Statement layout
Your borrower statement is a snapshot in time of your borrowing
activity on Prosper. The statement is created about five days after
your monthly loan payment date, and ...
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