Author Topic: Can You Unwind a Prosper Loan before it is fully funded?  (Read 2781 times)

SeattleSun

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Can You Unwind a Prosper Loan before it is fully funded?
« on: July 25, 2013, 12:20:06 PM »

Is possible on the web site to unwind a Prosper loan before it fully funds and is originated?

Example:  My usual loan is $100 and today I "double pumped" one due to a distraction and ended up with $200 on that particular loan.

Yea really not a big mistake but the other day I had typed in $1000 instead of $100 but caught it before I 'confirmed'.  That type of mistake I would like to "unwind" for sure.

Randawl

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Re: Can You Unwind a Prosper Loan before it is fully funded?
« Reply #1 on: July 26, 2013, 01:27:08 AM »
Nope, I do not think that is possible.  Well, technically it is possible.  I just don't think it's possible for you and me, however.     ::)

Xenon481

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Re: Can You Unwind a Prosper Loan before it is fully funded?
« Reply #2 on: July 26, 2013, 02:31:12 PM »
This has been done several times when one of Prosper's C level employees (now former) (username Anton) made bids he wanted to take back, but has not been done for normal people.
The Motley Fool says to Avoid Prosper Like The Plague.

Read about historical Prosper actions/problems at Prospers.org

SeattleSun

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Re: Can You Unwind a Prosper Loan before it is fully funded?
« Reply #3 on: July 26, 2013, 04:16:37 PM »


Prosper's reply to my e-mail:  "It is not possible to ‘unwind’ an incorrect bid on a loan. I’m glad you caught the $1,000 bid! The majority of investors use the Quick Invest tool so this issue is largely avoided. If manually selecting loans, be very careful."

neals384

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Re: Can You Unwind a Prosper Loan before it is fully funded?
« Reply #4 on: July 29, 2013, 02:47:47 AM »
Huh.  I have done a double by mistake and the Prosper platform comes back with an error message.  It doesn't let the second invest go thru.  Maybe that feature is now broken.