SoLo Funds

            What happens when a loan goes to Collections?

            Effective 11/27/2018

            Once a loan is sent to collections, the Borrower has 90 days to repay the loan through SoLo.  An additional $15 Collections fee will automatically be applied once the loan is placed in collections. 

            After 90 days payment is still not received, the Borrower will be required to make payment directly to our Collections partner, 50% of which will be passed on to the Lender (our Collections partner takes the other 50%).
            Updated: 15 Jan 2019 04:46 AM
            Help us to make this article better
            2 1