Lend2's Take On Prosper's Collections Handling

Lend2 runs a fairly large group (aptly named Lend2's group) with over 200 loans to the group's name. He wrote a summary of his borrower's feedback regarding the collections process:

• The Penncro collectors are really "mean." Several people independently used this same word to describe them. Some have asked if there's someone else they can talk to about their loans. I've re-directed them to Prosper customer service.
• Many people didn't know that they could make a partial payment on their loan (smaller than the monthly payment amount). There seem to be a lot of people trying to negotiate better terms on their loans. As we know, Prosper's loan notes don't allow this. Many borrowers are misinterpreting this to mean that they can't pay anything less than what is due. In fact, Prosper allows borrowers to pay as little as $25 against their loan.
• Many people didn't realize that they could make a payment directly through the Prosper website instead of through Penncro. For many, this is easier or less threatening than having to call the collection agency.
• Several thought that their loans had been sold to the collection agency, thinking that their payments would now go to the collectors instead of the private Prosper lenders who had originally loaned the money. These people brightened up when they realized that their payments would still flow through to us.
• Most have received rude, obnoxious or threatening e-mails from Prosper lenders. In many cases, it sounds like this has negatively colored their view of Prosper lenders, making them less inclined to give their Prosper payments a higher priority.

His full post is worth the read, so have at it.