Complaints

This profile includes complaints for Prosper.com's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Prosper.com

  221 Main St Ste 300 San Francisco, CA 94105-1909

  
• 

  Prosper.com

  PO Box 1467 Killeen, TX 76540-1467

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:03/22/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was told I was approved on Credit Karma, after being told I had excellent odds of approval. After I agreed they immediately denied me without any effort to get me approved. I am a loan officer. I know how *************. They said their computer couldn't verify something, they have no idea what so they just denied me. I do verifications all the time. If you don't get it online, pick up the phone and call! Try actually doing your job! So now I get to sit with a credit inquiry and denial on my credit report for the next few months, plus the ding from having my credit pulled, all because they are lazy. This is bullshit! No wonder they have a 1 star rating. Pathetic. I believe that what they are doing is false advertising. Why are they sending me marketing bs telling me I have "outstanding odds" when they aren't willing to put in any effort whatsoever to get loans approved?

  

  Business Response

  Date: 03/30/2023

  Dear *****,
  
  Thank you for reaching out to us regarding your concern. 
  
  We apologize for the frustration this has caused. Unfortunately, we have determined we cannot continue to extend a loan offer to you at this time. 

  Please refer to your Adverse Action Notice for more information. This can be found in your online account under 'History' and selecting 'Legal Agreements & Disclosures'.   
  
  We have taken steps to remove the hard inquiry from your credit bureau report.Please allow ***** days for this change to take effect. 
  
  Thank you for your interest in Prosper.

  If you have any other questions, please let us know at ********************************** or by giving us a call at ************. 
  
  Sincerely,
  Prosper Client Services

• Initial Complaint

  Date:03/21/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I applied for a loan from Prosper. They pulled my credit report and had me put in my bank account information to receive payment, which I linked through PLAID. I go back to the prosper site to verify the account was linked and my account was see my prosper account was suspended and my loan request cancelled. The reasoning listed in my message for not funding the loan was because they apparently couldn't verify identity, employment, credit history, income or other information on the application. So instead of asking for documents to verify anything, they just suspend the prosper account and cancelled my loan request after pulling my credit. I want the inquiry removed from credit since I was not even given the opportunity to provide the information needed to fund the loan.

  

  Business Response

  Date: 03/28/2023

  Dear *******,
  
  Thank you for contacting us regarding your concern. Upon review we are unable to provide a loan offer at this time and were able to reach this determination without the need for additional documents. We apologize for any frustration.
  
  The hard inquiry is in the process of being removed. You should see this change reflected on your credit report within 30 to 60 days.
  
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:03/16/2023

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  This credit card boasts that it reports to all 3 major credit bureaus but it does not. It is false advertisement.

  

  Business Response

  Date: 03/24/2023

  Dear ********,
  
  Thank you for reaching out to us about your credit reporting concern.
  
  At this time, the Prosper card only reports information to Transunion. We hope to report the same information to Experian and Equifax in the future.
  
  We understand this situation is extremely frustrating and apologize for the inconvenience it has caused you.  
  
  If you have further questions, please email us at *************************************** or call us at ****************.
  
  Sincerely,
  Prosper Client Services

  Customer Answer

  Date: 03/24/2023

   
  Complaint: 19612196
  
  I am rejecting this response because: This was the same information provided to me when I originally made the complaint to Prosper.  These companies are falsely advertising their literature, people are signing up and being screwed in the process.  I recently paid off all my debts in hopes of buying a home soon.  Now my credit score is being affected because this company that PREVIOUSLY reported to all 3 credit bureaus no longer does, and we the customers are paying for it.  Now any new credit I apply for is being affected by incorrect information.  My debt-to-income ratio is off which may cost me higher interest rates across any of the loans I carry or apply for.  Ill bet if this card werent being paid on in a timely enough fashion it would surely be recording and reporting the late payments, fees, and whatever else that gets negatively impacted.  This is unfair to the consumer.  

   

   

  
  Sincerely,
  
  *****************************

  

  Business Response

  Date: 03/30/2023

  Dear *******,
  

  Thank you for continuing to communicate with us. 
  
  At this time, Prosper does not report credit card account information to Experian or Equifax. However, our team is working hard to incorporate this into our future initiatives.  
  
  We understand that this is not the outcome you had hoped for as a prospective home buyer and apologize for the issues this has caused you.

  Sincerely,
  Prosper Client Services

  Customer Answer

  Date: 03/31/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  Date:03/16/2023

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I received an email from Prosper today, March 16 indicating that my account had been closed due to its delinquent status. I just made a payment on 3/13/23. I have sent emails to them indicating that I was having financial difficulty due to a reduction in work hours and said I would make payments when I could. No one followed up or called me to discuss. I find it surprising that after two missed payments (please note: I've paid something in these two months), my account was automatically closed. That is not best practice. I was proactive by trying to reach out.

  

  Business Response

  Date: 03/24/2023

  Dear *****,
  
  Thank you for reaching out to us regarding your concerns.
  
  For more details surrounding when we may close an account, please refer to the 'Other Information' section of your Cardholder Agreement. We have also responded to your email on 02/16/2023 with additional context. We apologize for the frustration this has caused and understand it was not the outcome you expected.
  
  While we could not locate any other messages from you, please let us know what email address you had reached out to, and we'd be happy to review further.
  
  Should you have any additional questions, please feel free to contact us at *************************************** or by giving us a call at ************.  
   
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:03/13/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Im a current customer with ********************** and Im requesting a second personal loan. I pay my loan on time and I have good credit and requesting a second loan and I never can get a approval for a second loan with prosper

  

  Business Response

  Date: 03/20/2023

  Dear *******,
  
  Thank you for reaching out to us regarding your concern.
  
  We apologize for any frustration this has caused. Unfortunately, we have determined we cannot continue to extend a loan offer to you at this time.
  
  Please refer to your Adverse Action Notice for more information. This can be found in your online account under 'History' and selecting 'Legal Agreements & Disclosures'. 
  
  Thank you for your continued partnership and if you have any other questions, please let us know at ********************************** or by giving us a call at ************.
  
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:03/13/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Monthly beginning due date of loan started July 16, 2022. The loan amount was for $9000. $485 went to service fee. Which left me with $8550 of loan funded into my account. As of March 13, 2023. I have paid $3061.68 on loan. Since I have had the loan, I have noticed that my interest rate has fluctuated from month to month. As shown in the attachment that I have sent. I have noticed that my interest rate on the principal have went down, but the amount of interest I have been paying has been fluctuating from month to month, which is very confusing to me. I would like some explanation why this is happening and I would like a resolution to this problem.

  

  Business Response

  Date: 03/21/2023

  Dear ******,
  
  Thank you for communicating with us regarding your concern.  
  
  As with all simple interest loans, there is a per diem rate of interest that is applied to the loan each day. 
  
  To learn more about how that is calculated, there are many articles and interest calculators available online. A quick web search of ' how simple interest is calculated' should provide ample results. 
  
  You can also refer to your 'Borrower Promissory Note' for additional information regarding payments and interest accrual.
  The agreement can be found within your Prosper account by:
  
  1.           Signing in
  2.           Clicking on your name in the upper right corner
  3.           Selecting the 'History Tab'
  4.           Locating 'Legal Agreements & Disclosures'
  5.           Choosing the 'Borrower Promissory Note'
  
  We appreciate you taking the time to share your experience with us.
  
  If you have further questions,feel free to email us at ********************************** or call us at ****************.
  
  Sincerely,
  Prosper ****** Services

  Customer Answer

  Date: 03/26/2023

   
  Complaint: 19589384
  
  I am rejecting this response because:
  
  Sincerely,
  
  *******************************

  Customer Answer

  Date: 04/03/2023

  From my understanding. Per dime means that i would work for you and receive some type of bonus pay base on mileage or food travel bonus. From my understanding this is also tax exempt. I do not work for this company. I only have a loan from the company in question. So, where is the extra money that i pay on the loan going to? I havent received any type of bonus check in my mail box. I havent received a 1099.so,that i could go and file taxes. So,once again why is my loan based on a Per Diem payment arrangement? I was told that i should seek a lawyer and also call the *** and report the conduct on how this company is doing business. 

  

  Business Response

  Date: 04/12/2023

  Dear ******,
  
  Thank you for raising the additional concern regarding your simple interest loan.
  
  'Per diem' refers to the amount of interest that accrues daily. Each day, the per diem adds to the amount of any outstanding interest or fees. Whenever a payment is made, it will first apply to any fees or unpaid interest and then finally, the remaining principal balance of the loan. 
  
  To ensure a payment goes to 100% principal, you can always make an additional payment on your due date after your payment for the month has been satisfied in full. 
  
  For more information regarding payments and interest accrual, please refer to your 'Borrower Promissory Note'.
  
  If you have further questions,feel free to email us at ********************************** or call us at ****************
  
  Sincerely,
  Prosper ****** Services

  Customer Answer

  Date: 04/12/2023

   
  Complaint: 19589384
  
  I am rejecting this response because:
  Is Prosper stating that i have been late in my payments?
  Sincerely,
  
  *******************************

  

  Business Response

  Date: 04/18/2023

  Hello ******, 
  
  If you have any further questions pertaining to your private payment history, please contact us at ********************************** or by phone at ************ and a member of our team would be more than happy to discuss with you. 
  
  Thank you,
  Prosper Client Services 

• Initial Complaint

  Date:03/10/2023

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I got my February statement Feb 10th on my prosper app. The app said a $30 payment was due March 8th. I made the payment Feb 11th and it posted to my account Feb 12th. They have charged me a late fee and are saying my payment is late. Now they wany me to make another $30 March payment on top of my $30 April payment. They also informed me that a late payment would be reported to my credit! I want my payments adjusted and no late payments reported. I have 9 statements currently and I have made nine payments.

  

  Business Response

  Date: 03/17/2023

  Dear ********, 
  
  As a courtesy we have waived two amounts of $29 from the account which appear on the March 2023 Statement. As of 03/17/2023 the account is reflecting current. 
  
  We sincerely apologize for the confusion this has caused. If there are any additional questions, please feel free to contact us by email at **********************************, or by phone at ************.
  
  Sincerely, 
  Prosper Client Services 

  Customer Answer

  Date: 03/17/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *******************************

• Initial Complaint

  Date:03/10/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I agreed to a credit limit of ****. In December I paid off 2 loans over 100k. I went to use my credit card and it was declined and I knew I wasnt over the limit. I called prosper to see why my card was declined, the advised that because my credit score dropped. However because my score dropped doesnt say Im not capable of paying my bill. I waited over 2 months for someone to give me a call back and nothing. I called today and its like I never called at all because they didnt have a record as I was told. Recreating my credit limit also messes with my credit score!

  

  Business Response

  Date: 03/20/2023

  Dear *****,
  
  Thank you for reaching out to us about your concerns.
  
  After reviewing the account, we found opportunities to improve and have raised these observations to prevent other instances from occurring in the future.
  
  We understand this is not what you expected and apologize for the frustration this has caused. Please know that accounts are automatically reviewed every three months and your line could increase, decrease, or stay the same. You will be notified via mail of any changes made to your account.
  
  For more information on when we can perform Credit Limit changes please refer to the Credit Limit section in your Cardholder Agreement, and the email we sent on 03/10/2023 for more information as to why your credit limit decreased.
  
  If there are any additional questions, please feel free to contact us by email at **************************************** or by phone at ************.
  
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:03/09/2023

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Prosper card hit me with a late fee due to being late had called them prior to this happening was told that they would work with me insted they brought me up to $165.00 for minimum payment called them and repeataly being called mam when i am a sir told them about it was told late fee would come off my amount due with my $48.00 payment and the $29.00 late fee,the bill would go down to $59.00 and now being told i have to pay$88.00 this company should be ******** closed and charged for bate and switch tactic this is unlayfull and they should be delt with

  

  Business Response

  Date: 03/14/2023

  Dear *******,
  
  Thank you for reaching out regarding your payment concerns.
  
  We're glad to see the late fee of $29 was waived on 03/02/2023 as requested. After your most recent payment and late fee waiver, the remaining minimum amount due on the account is accurate.
  
  Please know it can take up to 10 business days for payments to fully process and post to the account. You can review the Payments section of your Cardholder Agreement for more information on how your minimum payment is calculated.
  
  We listened to multiple interactions and found opportunities to improve. We have raised these observations with senior leadership to prevent other instances from occurring in the future.
  
  We deeply apologize for the frustration this caused.
   
  If there are any additional questions, please feel free to contact us by email at **********************************, or by phone at ************.

  Customer Answer

  Date: 03/14/2023

   
  Complaint: 19577260
  
  I am rejecting this response because: I was told  the $29.00 was being taken off the amount  of my minimum  payment  due this month, this company  should be put out of business, due to predatory lending actions.
  
  Sincerely,
  
  *****************************

  

  Business Response

  Date: 03/17/2023

  Dear *******,
  
  We show the late fee of $29 that was waived as a courtesy on 03/02/2023 did reduce the minimum payment amount owed, in addition to the payment made on 03/09/2023.
  
  A member of our team has sent an email with more detailed information surrounding the remaining minimum payment amount owed by 03/22/2023. 
  
  Sincerely,
  Prosper ****** Services

  Customer Answer

  Date: 03/21/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  Date:03/09/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I started receiving collect call from a prosper credit card company in February. I advised them I had never heard for this company and did not have a card with them, Someone fraudulent was able to open an account with prosper credit card using my information. They have been reporting to the credit bureau and have dropped my credit 73 points. I have disputed this on my credit and have call this company server time and was told this account with me marked as fraudulent but they refused to give me any information on the account because some of the information does not match which I wouldnt because its fraud. They have given me the hardest time resolving this issue and this is effectively my life greatly.

  

  Business Response

  Date: 03/17/2023

  Dear *****,
  
  Thank you for reaching out to us regarding your concerns.
  
  After further review of the account, we determined an error occurred causing the initial fraud claim to not be filed as expected.
  
  We are happy to see this claim has been successfully filed on 02/23/2023 after we received the Credit Bureau Dispute, and we have since escalated this to our Fraud Team for further review. Please know it can take up to 90 days for the review on a fraud claim to be completed.
  
  We deeply apologize for the frustration this has caused and a member of our team has sent an email with contact information for the Fraud Analyst reviewing your claim should you have any further questions.
  
  Sincerely,
  Prosper ****** Services