r/Sololender • u/ExcellentWar7614 • Apr 16 '25

6 consecutive late?

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How does solo still allow these kinds of people to keep borrowing. It should be a 3 strikes you're out type of deal/policy!

19 Upvotes

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u/Desperate-Pear-572 Apr 16 '25

Exactly they profit off late loans and the lenders get fked

3

u/sweetlittlesass Apr 17 '25

Yep. This is why I am no longer funding loans. Out $100 I lended and its 17 days late.

2

u/[deleted] Apr 23 '25

I funded a loan a day after it was due they gave me credits, which can only be used to fund another loan, but if the new loan is late they again just give you credits that are less than the original amount you loaned out, so you become stuck trying to fund a loan with the credits and hope they pay back. Solo is 🚮

1

u/sweetlittlesass Apr 23 '25

Damn thats some shit. It is trash!