Answering Usual Complaints is a website which allows lenders and borrowers to meet and help address financial issues, through loans.  Just like a marketplace, biddings are made in order to make loans.  Members would be able to make unsecured loans which could be difficult to get from traditional financial institutions. However, organizations like these are not free of complaints. What are the common complaints?

Among the complaints, is the issue about collection practices. Although, there are safeguards made by Prosper to ensure that borrowers would be paying their loans, there are still loans that end in delinquency.  There are some who say that the company is not doing anything when it comes to improving collection. has already turned the corner and they are implementing changes to avoid these from happening. In fact, Prosper is taking legal action against those borrowers who are delinquent when it comes to payment.

Also, other complaints would include the investor returns. says that investors would be able to earn 7 to 13% from the borrowers money, but there are lenders who are saying otherwise.  There are lenders who claimed to have only break even profit, while there are some who claim to have lost their profit because of the default rates. Prosper’s relaunch and SEC registration has helped in lowering the default rates and allowing investors bigger margins in investor returns.

We could say that Prosper is not a perfect system, which is what contributes to complaints. There is still a lot that can be improved on to ensure that customers would be getting the best possible service. But we cannot deny that the reason behind the system is a good one, and it is definitely worth improving.

Patty Bender

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