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How does Prosper protect the purchaser of a Note against identity theft?

If there is a default under a Note due to verifiable identity theft of the named borrower’s identity, Prosper will in its discretion either repurchase the Note or indemnify the Note holder against losses on the Note. The determination of whether verifiable identity theft has occurred is in Prosper’s sole discretion and Prosper may require proof of identity theft, such as a copy of a police report filed by the person whose identity was wrongfully used to obtain the fraudulently-induced borrower loan, an identity theft affidavit, and/or a bank verification letter, in order to determine that verifiable identity theft has occurred.

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