ZenBalance
Mon Sep 16 2024
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6 answers
1666
How does Prosper verify income?
How does Prosper, a peer-to-peer lending platform, go about verifying the income of borrowers seeking loans? I'm curious about the specific steps they take to ensure that the income figures provided by applicants are accurate and reliable. Does Prosper rely solely on self-reported income or do they conduct further checks, such as requesting tax returns or pay stubs? And how does this process help protect lenders from the risk of borrowers defaulting on their loans due to inability to repay?
