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:11/10/2022

  Type:Customer Service 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.

  221 ********************************* | *************, ** 94105
  6860 North *************************************** | *****, ** 75024
  ************

   

   

  Customer Answer

  Date: 11/10/2022

  I applied for a loan with Prospect and they denied me not because of my income verification, not because of my credit history, but because they did not simply like the amount in my checkings account. They told me that it was not enough to be considered for a loan, but the problem with that is that I have verifiable and a solid credit history to definitely say I make the money I do and that Im qualified for a loan. I want either them to move forward with my loan or remove the credit inquiry on my account.

  

  Business Response

  Date: 11/14/2022

  Hi Isiah 
  
  Thank you for reaching out to us regarding this issue. 
  

  Unfortunately, we are unable to move forward with the loan origination after a review of your information.

  You can refer to your Adverse Action Notice sent on 10/31/2022 for more specific details. 
  
  The hard inquiry assessed after your application terms were signed cannot be removed. However, you may reapply at any time.
  
  If you have further questions, feel free to reach us by email at [email protected] or by calling our *************************** at **************.
  
  Sincerely, 
  Prosper Client Services.

  Customer Answer

  Date: 11/14/2022

   
  Complaint: 18315588
  
  I am rejecting this response because: they already enclosed they absolutely did not specify in any terms of agreement the available balance in your checkings account needed to be considered. And they also refused to explain clearly over the phone the details of the process needed to move forward while I asked them and denied me the loan.
  
  Sincerely,
  
  *********************

  

  Business Response

  Date: 11/16/2022

  Hi *****,
  
  Thank you for communicating with us.   
  
  During the verification process, multiple factors are considered and reviewed prior to any loan origination.
  Please refer to the Personal Loan Borrower Registration Agreement as this contains information regarding a loan request and information that we may verify.
  
  On 10/31/22 you were issued an Adverse Action Notice providing further information regarding your application. This can be found in your online messages in your account portal.
  
  While we could not move forward with your loan request, we hope to be considered in the future. 
  
  If you have further questions, feel free to email us at [email protected] or call us at ****************.
  
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:11/10/2022

  Type:Product 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 took out a loan with prosper about a year ago for $2000 ( the company took out $100 so my Initial Loan was for $1900. )I had a balance of $384. So I called prosper customer service department, on Oct ********* and spoke to a representative and asked if I paid my balance off will I be able to apply for another loan? She said yes! I don't see any reason why you can't. Then I asked if for some reason I don't get this loan will the money be refunded back to me ? She said yes, just give us a call.( so I said I'm going to pay off the $384. But don't take it out until Nov 3rd! ( my $78 installment is due on the 4th of each month)Then I just wanted to make sure I called back and the next representative told Me I qualified as well for the loan.Then I put in for the loan, I didn't qualify. Then I explained about what I was told from 3 representatives I would qualify and if I didn't, it wouldn't be a problem to get the $384 back to me.So as of Nov 10th there has been 3-4 tickets put in to the accounting ***** And was told by another representative ********* that he will put a ticket in to the accounting department. Asking for $300 refund to go back to my checking account. And the $84 will go to my account. ( then when I checked yesterday, the accounting department sent me an email saying there is nothing they can do because my account being paid in full it would cause me to have an outstanding balance! Then I said it's because of me waiting every time a ticket that was put in on my behalf, it was 2 days before I found out I was rejected!There was only $ 78 to be taking out of my bank of the west account (ONLY) then I called yesterday and spoke to a representative by the the name of Iram. Who put another ticket in to the accounting ***** My ticket # is ******* (this is the main #) but there is more associated with this situation. I spoke to a ***** who I tried to explain as well. It took blood for him to get me to the accounting .

  

  Business Response

  Date: 11/15/2022

  Hello *********,
  
  Thank you for reaching out to us. We have reviewed all calls related to your concerns and determined no incorrect information was provided.
  While we are unable to refund you the final loan payment without causing your loan to become past due, we thank you for your business and apologize for the frustration this may have caused. 
  
  If you have additional questions, feel free to email us at [email protected] or call us at *************.
  
  Thank you,
  Prosper ****** services

  Customer Answer

  Date: 11/17/2022

  
  Complaint: 18385420
  
  I am rejecting this response because I asked a question  if I paid my loan off $384 will I be able to get another loan with no problem? 

  Both representatives  i spoke to said yes. Its like when you go to the store and the price states $5.00 but you come up to the cashier $ and she says its $ 15.00  the clerk have to give what the price states.

  Also i made payments of $78 , this will not make  me have an over payment. This was a $2,000 loan I took out ,I paid it off 
  
  I paid it down way  ahead of time.. my payment is $78 on the 4th of the month if they gave me $300 back and took $84 , I can make another payment  Dec 4th for $78  I will be on track. Plus one of the representatives said he will put in a ticket for me to get $300 back and $84 to prosper.. I do believe  my calls were taped

   

  Sincerely,

  
  ********************************************

  

  Business Response

  Date: 11/21/2022

  Hello *********,
  
  Thank you for following up with our team.
  

  We have reviewed all calls related to your concerns and determined no incorrect information was provided.

  Unfortunately, we are unable to refund the payment which has paid off your loan. We sincerely appreciate your business and apologize for the inconvenience. 
   
  Should you have any additional questions or concerns please feel free to email us at [email protected] or call at ************.

  Customer Answer

  Date: 11/21/2022

  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:11/10/2022

  Type:Customer Service 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.

  To whom it may concern, This is about the consumer credit transaction entered into with your company dated September 14, 2022 and I extended your organization the credit for the LOAN #: 1917817.The origination fee of $500.00 was not included in the finance charge of $8538.83. The origination fee of $500.00 was taken out of my amount financed. The loan was approved for a total of $10,000.00. The amount financed was $9500.00 instead of $10,000 because the origination fee was deducted from the actual loan amount. This is FRAUD. Prosper Marketplace, Inc. (Prosper) admits that the Truth in Lending Disclosure included the itemization of the $10,000 loan with the amount financed in the amount of $9,500.00, of which $500.00 was deducted for a prepaid finance charge. This is a VIOLATION of 12 CFR ****** of the Truth In Lending Act. The finance charge is the *** of all charges. The prepaid finance charge of $500.00 should have been included in the Finance Charge of $8,538.83. I was approved for $10,000.00 and should have received the deposit for that entire amount. The Truth In Lending Finance Charge Chart CLEARLY states that Loan Origination Fees are ALWAYS included in the Finance Charge. The $500.00 is listed as a Loan Origination fee. I was NOT clearly and conspicuously provided any forms with any clear disclosures. Prosper Marketplace, Inc. (Prosper) has also charged a usurious interest rate of *****% for this personal loan. Article 15 of ********** constitution states loans primarily for personal, family, or household purposes, at a rate not exceeding 10 percent per annum. FL STAT 687.`02 contracts for the payment of interest upon any loan, advance of money, line of credit, or forbearance to enforce the collection of any debt, or upon any obligation, at a higher rate of interest than the equivalent of 18 percent per annum simple interest are hereby declared usurious I have filed a ************************ Report #*********.

  

  Business Response

  Date: 11/16/2022

  Dear *****,

  We're sorry to hear about your recent experience and we apologize for any frustrations caused. After further review, we can confirm that the Origination fee was included in the total finance charge listed in the Truth in Lending Disclosure.  This disclosure also states the amount of the funds that are distributed once the origination fee was removed from the total loan amount requested.

  
  Additionally all loans through the Prosper platform are originated by WebBank, an FDIC insured and ****-chartered industrial bank.  As a result, and as indicated in the Promissory Note and the Borrower Registration Agreement, all loans through the Prosper platform are governed by federal law and, to the extent that state law applies, the laws of the *************. We are not able to lower your interest rate as the terms of your loans are permissible under the applicable law.
  
  Please note, all documents and legal agreements must be acknowledged prior to acceptance of an offer and are available within your Prosper account for review.
  
  Please feel free to refer to your Legal agreements at any time by:
  
  Signing in to your Prosper.com account.
  Click on your name in the upper right corner.
  Select the History Tab.
  Select Legal Agreements
  
  For further questions or concerns, you may contact **************** at ************, Monday through Friday from 6am PT to 5pm PT or by emailing [email protected].
  
  Thank you,
  Prosper Client Services

  Customer Answer

  Date: 11/21/2022

   
  Complaint: 18380584
  
  I am rejecting this response because: If the Origination Fee was taken out of the loan amount as you stated in the response, this is inaccurate. The origination fee was ONLY to be taken out of the finance charge. If it was not taken out of the loan, I would have received the entire loan amount, which i did not. Your response clearly states I was given the remainder of the loan amount AFTER the origination fee was taken out. 
  
  Sincerely,
  
  ***********************

  

  Business Response

  Date: 11/25/2022

  Dear Kiria, 
  

  Thank you for continuing to communicate with our team. You can refer to your Truth in Lending Disclosure Statement or Personal loan Borrower Registration Agreement for further information regarding the origination fee.
  
  Please feel free to access these notices anytime by signing into your Prosper account - selecting the drop down near your name -History - Legal agreements. 
  
  We truly apologize for the frustration this has caused. 
  If you have any other questions, please let us know at ************ or [email protected] 
  
  Sincerely,
  Prosper Client Services

  Customer Answer

  Date: 11/29/2022

   
  Complaint: 18380584
  
  I am rejecting this response because: Your business continues to state that I can refer to the loan documents for information on the origination fee. On the documents it clearly states that $500.00 was a prepaid finance charge. The truth in Lending Act clearly states that loan origination fees are ALWAYS included in the finance charge. The finance charge of $8,538.83 should have been the only fee charged for the loan of $10,000. The finance charge is the dollar amount the credit will cost. Your business is stating that I must pay back the finance charge and the loan amount of *******. The finance charge is the sum of all charges, therefore a prepaid finance charge should not be included of $500. Your business states that you follow the federal truth in lending laws, therefore this is a violation of 15 U.S. Code 1605. 
  
  Sincerely,
  
  ***********************

• Initial Complaint

  Date:11/07/2022

  Type:Customer Service 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.

  - Horrible website maintenance - Cancelled loan application due to unable to verify identity but pulled my credit report anyway - Refused to help and required me to wait 90 days despite making the error on their end - Horrible customer service

  

  Business Response

  Date: 11/10/2022

  Dear ****,
  
  Thank you for reaching out to us regarding your concerns and we apologize for any frustration caused.  While a hard credit inquiry was incurred when the loan offer was accepted, we have requested for this to be removed.  Please allow ***** days for this change to reflect on your credit profile.
  
  We did provide an Adverse Action Notice on 11/7/22 that provided an explanation regarding the cancellation of the loan request and this can be found in your online account under your messages.
  
  The account is currently suspended, but you may apply again 90 days from 11/7/22.  We appreciate the time you took to share your experience with us so we may continue to improve our processes.
  
  If you have any other questions, please feel free to contact us by email at [email protected], or by phone at **************.
  
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:11/02/2022

  Type:Billing 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 applied for a loan with Prosper. I was approved for a loan and right after ******** by bank account I received an email stating my loan was cancelled and my account was suspended. I am not able to move forward with any other loan offers at this time because other companies assume I have a loan with prosper and a hard inquiry was placed on my credit report which caused my score to drop 5 points. No one reached out to me regarding verification on my account and when I called I was told the account would be suspended for 90 days with no explanation as to why it was suspended.

  

  Business Response

  Date: 11/07/2022

  Hi *******,
  
  We're sorry to hear about your recent experience and we apologize for any frustrations caused.
  
  Please refer to your Adverse Action Notice regarding the application. The notice can be found within your Prosper account by:
  
  Signing in to the account.
  1.Click on your name in the upper right corner.
  2.Select the History Tab.
  3.************ Agreements
  4.Select the Adverse Action Letter.
  
  The hard inquiry issued will be removed from your Credit Profile and the changes should reflect within ***** days.  If youre still interested in applying for a loan through Prosper, we recommend waiting at least 90 days and applying again.
  
  For further questions or concerns, you may contact **************** at ************, Monday through Friday from 6am PT to 5pm PT or by emailing [email protected].
  
  Thank you,
  Prosper ****** Services

  Customer Answer

  Date: 11/08/2022

  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:11/01/2022

  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 received an offer in the mail for a credit card today 11/01/2022. I went online and responded to the letter and it came up I was approved for $1600.00 once I provided my bank information which I reluctantly did. After doing so it came up I was not approved due to unable to verify my information which makes zero sense because both my wife and I have our ************* deposited!! I have other credit cards and my wife has credit cards as well, none of the other cards asked for our bank account information. Now I will be contacting the bank to make sure this in no way effects my account. Something just doesn't seem right with this whole experience.

  

  Business Response

  Date: 11/04/2022

  Hi *******,
  
  Thank you for contacting us regarding your concern.  
  

  While a pre-approval for a Prosper Card indicates that certain criteria has been met,additional information can be needed for a complete approval. During the application process, we may request banking information be provided prior to the submission of an application. 
  

  On 11/1/22 you were issued an Adverse Action Notice providing further information regarding your application.  You can find this notice in your online account under the messages tab.  You can also find further details surrounding how your information is stored by visiting prospercards.com -Privacy Policy. 
  
  If you have further questions, feel free to email us at *************************************** or call us at ****************.
  
  Sincerely,
  Prosper Client Services

• Initial Complaint

  Date:10/27/2022

  Type:Product 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.

  My credit card has been getting denied and come to find out theres a restricted on my card on my online account but there is no reason stated and there was never even a warning given to me or anything .

  

  Business Response

  Date: 10/27/2022

  Dear ****,
  
  Thank you for reaching out to us regarding this issue.Your account security and privacy is important to us.  

  We apologize for any frustration and are taking steps to prevent similar situations in the future.
  
  The restriction on your account has been removed.
  
  If you have further questions, please email us at *************************************** or call us at ****************.
  
  Sincerely,
  Prosper Client Services

• Initial Complaint

  Date:10/26/2022

  Type:Customer Service 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.

  Deceptive marketing by Prosper Funding LLC is misleading to apply for pre-approved loans products advertised a soft pull credit inquiry but is actually a Hard credit inquiry that lowers your credit scores. soft inquiry is a credit check that does not damage my credit score in any way. Prosper Funding LLC made a hard inquiry on my credit file. I wanted that inquiry removed immediately from my credit file.

  

  Business Response

  Date: 10/26/2022

  Dear ******,
  
  Thank you for contacting us regarding your concern. Checking rates with Prosper requires only a soft inquiry which does not affect a credit score. Once a loan offer is selected and the terms are agreed to, a hard inquiry does occur.  We do include this information in our disclosures, and this authorization must be accepted before the agreement can be signed. 
  
  Prosper examines additional data points in order to approve applications, and, upon review, we are unable to provide a loan offer at this time. Please note that an update has been submitted to *********** to remove the hard inquiry. This change should be reflected within 30 - 60 days.
  
  If you have further questions, feel free to reach us at **************** or email us at [email protected].
  
  
  Thank you.

  Customer Answer

  Date: 10/27/2022

   
  Complaint: 18314926
  
  I am rejecting this response because:
  This has been a repetitive issue  with your company experience a similar experience when applying to a  pre-approved offer via Credit Karma platform and got denied and the hard injury has remained on my credit file without removal from your company. That's why I filed a complaint with the BBB because it appears to be a repetitive practice of your company.  Harming consumers credit  scores  reducing the chances of receiving credit elsewhere 
  Sincerely,
  
  *****************************************

  

  Business Response

  Date: 10/28/2022

  Dear ******,
  
  Thank you for following up with us. An update was previously submitted to the credit bureau for the hard inquiry that was incurred during the earlier application. The hard inquiry should no longer be reflected on the credit report. Please submit a copy of your credit report to [email protected] that reflects a hard credit inquiry and reference this issue so that we may look into this matter further.
  
  Sincerely,
  Prosper ****** Services

• Initial Complaint

  Date:10/23/2022

  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 was notified via text that I was approved for a loan from *****- *********. I contacted the number and got a call back from a representative that I hardly understood. He told me I was already approved and sent me the link to enter my information. I also sent my license information as well. I started getting ***** when he said he would put money in my account and then take it back out as proof that I am the person applying for the loan. I did not feel comfortable with that so I said let's wait to do that. He was very insistent that it was not a scam. He said he would go ahead a do the bank verification. Overnight I started getting alerts that I filed 4 disputes with my car loan carrier. I called my bank immediately to stop the investigations. I also changed my username and password so that they could not get into my account online. I also set up a verbal password with my bank if anyone called. I updated my security settings as well. I contacted the representative immediately and said I was no longer interested in getting a loan and to destroy all of my information. He called me back the next day and tried to convince me it was not a scam. I want to make sure they no longer have access to my information and they will not sell it. I am very worried now about what they can do with it.

  

  Business Response

  Date: 10/25/2022

  Hi **********,
  
  Thank you for communicating with us with your concern and we are sorry to hear you're experiencing this.
  
  Unfortunately you have not been speaking with members of our team; we will never ask borrowers to send money back to us as a part of a loan request.
  
  Please consider reaching out to your bank, local authorities and the 3 credit bureaus to see what options you may have, and for information on how you can protect yourself and your finances.
  
  If you have further questions, please email us at [email protected] or call us at ****************.
  
  Sincerely,
  Prosper Client Services

• Initial Complaint

  Date:10/17/2022

  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 did a debt transfer for $11,000 with prosper February of this year. I've made 16 payments on the loan. One was sent and cashed by you on 9/12/22 for $500. I've spoken with ******, *****, and ***** about the lost payment. It still is not credited to my loan. I have been paying on this loan twice a month an average of $500+. When I spoke with a manager, *****, on Thursday, 9/13/22, my balance was $4,898. Since then my balance has increased to $4,889.65 on 9/14/22, $4,902.86 on 9/16/22 and $4,904.47 today. I haven't been late on payments, I don't have anything due. So why is my balance increasing. I take screen shots daily of this. I want to know what is going on with this account and where my money is and why is a fixed loan increasing daily and why payments aren't being credited to my account after 30+ days. I feel like I'm being scammed.Loan #*******

  

  Business Response

  Date: 10/20/2022

  Dear ******,
  
  Thank you for reaching out to us regarding your concerns.
  
  We apologize for any frustration this has caused.  We have located the check and it has been applied to your account with the effective date of 09/12/2022. You may view this payment and others by logging in at prosper.com.
  
  In addition, we did send an email on 10/18/2022 regarding how payments are applied, how the loan amortizes and the interest that is accrued.
  
  If you have any other questions, please feel free to contact us by email at [email protected], or by phone at *************.
  
  Sincerely,
  Prosper Client Services