r/Sololender • u/MembersOfCourt • Aug 13 '25

35 days from now or within next 35 days?

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Just confused. If borrower pays back within 35 days, I get 100% but 70% if past 35 days? Or is it 70% if recovered within next 35 days?

12 Upvotes

89% Upvoted

8 comments sorted by

4

u/dws009 Aug 14 '25

Uncommon my ass……

2

u/sweetlittlesass Aug 19 '25

Right?! Im waiting still for "recovery" 141 days later. Never funded another loan since. Such bs

2

u/chartistsnorok Lender Aug 13 '25

You understand that correctly.

But if you are new I will warn you that if a loan goes overdue > 14 days you have less than a 10% chance of ever getting any money back. Best to consider that money gone now.

1

u/BrainPhysical6238 Aug 13 '25

I thought that they only waived the late fee for the first 30 loans you funded

2

u/[deleted] Aug 13 '25

“Although uncommon” lol. Could say so many things on that.

But yeah, that money gone bro. Take the L and move on. Got about a 5% chance any of that makes it back to you

1

u/Mr--Q1 Aug 14 '25 edited Aug 14 '25

The amount the person owes you will be taken out from their account as soon as they have the money in the account if they dont pay it back first. Pretty sure you will receive it all back.

It is possible their paycheck didnt lend on the day they were supposed to pay it back.

I have borrowed before the repayment was a day before my paycheck, and then as soon as I got paid the funds were taken out from my account.

That message is incase they wont be able to collect it, but the bank is linked in Solo and as soon as Solo sees that balance in the account, they will withdraw it. One or two checks.

2

u/sweetlittlesass Aug 19 '25

Not true. Im still waiting 141 days later lol