making extra payments with prosper

[Anonymous]

was looking to make a payment with prosper to lower my balance. wanteed to do it from my target prepaid card so i could get extra miles. but when i go to the prosper site, it says if i mail a payment i MAY be charged UP TO $15. that's all the info it gives. anyone actually try this? will i be charged? is it a % of your payment (hence the "up to")?

[Anonymous]

I haven't had one of their loans before, but I would probably call their Customer service to find out. It won't let you make one online?

[DaveInAZ]

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@Anonymous wrote:

was looking to make a payment with prosper to lower my balance. wanteed to do it from my target prepaid card so i could get extra miles. but when i go to the prosper site, it says if i mail a payment i MAY be charged UP TO $15. that's all the info it gives. anyone actually try this? will i be charged? is it a % of your payment (hence the "up to")?

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Where did you see that? When I log in & click "make payment" the only option is to debit my checking, as they do for the auto monthly payments. I took out a $5k loan last June, current balance is under $4k, and I was thinking of opening a new CC with 0% intro interest and paying Propser off, but the only way I see how to do this is mailing Prosper a BT check. I would challenge any fees charged for mailing them a check as I downloaded the PDF of my Promissary Note and it says clearly: "9. Prepayments. I may prepay this Note in full or in part at any time without penalty". .

[Anonymous]

With Lending Club, (which is also WebBank), if I want to make an extra payment I can call them to schedule it. But the only two options are my bank account attached to the loan or check. They charge the same $15 for check payment. There is no option to pay by other means.

[Anonymous]

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@DaveInAZ wrote:

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@Anonymous wrote:

was looking to make a payment with prosper to lower my balance. wanteed to do it from my target prepaid card so i could get extra miles. but when i go to the prosper site, it says if i mail a payment i MAY be charged UP TO $15. that's all the info it gives. anyone actually try this? will i be charged? is it a % of your payment (hence the "up to")?

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Where did you see that? When I log in & click "make payment" the only option is to debit my checking, as they do for the auto monthly payments. I took out a $5k loan last June, current balance is under $4k, and I was thinking of opening a new CC with 0% intro interest and paying Propser off, but the only way I see how to do this is mailing Prosper a BT check. I would challenge any fees charged for mailing them a check as I downloaded the PDF of my Promissary Note and it says clearly: "9. Prepayments. I may prepay this Note in full or in part at any time without penalty". .

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That refers to interest penalty, not a service charge such as a check processing fee.

[Anonymous]

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@Anonymous wrote:

I haven't had one of their loans before, but I would probably call their Customer service to find out. It won't let you make one online?

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i can pay online, with the checking account i use for auto-debit. i was trying to pay via my red card, to get cc points. ddin't think it would be an issue, since it's usuallly the same as paying from your bank's bill pay.

to the other poster - it's under the FAQ's

"To ensure that payments are processed in a timely and efficient manner and our investors receive payments when expected, your agreement with Prosper requires you to make your payments by an automatic withdrawal through an electronic fund transfer or bank draft. As a convenience to our borrowers and at our discretion, we currently accept phone and mail payments and may charge a processing fee of up to $15.

If you would like to make a payment by phone, please call 1-866-615-6319. Please have your bank account and routing numbers on hand during the call. We do not currently charge for phone payments."