Ranks and Reviews

Getting Assistance Through this software is kind of ridiculous

I enjoy the concept behind this application nevertheless with several apps, comes some quirks and you will phone or talk w/someone (not numerous apps but i believe the ones working with my banking account information and usage of debiting and crediting my account, i will manage to talk to somebody). Last i had to update my debit card after a loan had been funded and it wouldn’t allow it so I had to email someone week. the next day I have a reply that didn’t genuinely have any such thing doing in what we had needed or asked. It finished up I sent out tickets and responded to their messages with me canceling the loan (via ridiculous emailing again) after 4 different times. perhaps Not as soon as did I have a reaction that came near to repairing the problem we feverishly attempted describing 5 times that are separate. It is simple to use and comprehend and there are lots of individuals borrowing along with prepared to provide. I simply cannot excuse their not enough understanding as well as the absurd method of communication one should proceed through to talk to somebody individual. Who still can’t assist more times than maybe not. the iPhone is liked by me

Developer Reaction ,

Many thanks for the review. We apologize for just about any inconvenience it has triggered you. If at all possible, can you please e-mail in and type App Review when you look at the line that is subject? This way, we are able to make fully sure your e-mail is escalated for further review.

Many thanks once more and then we look ahead to resolving this to you.

Has Prospective But Requirements Work (Lender)

This app has great potential, but does little to protect lenders from losing money from an investors standpoint. I’ve lent over $16,000 to significantly more than 60 individuals and discovered that many individuals about this platform pay their loans back later, with several perhaps maybe perhaps not trying to repay at all. I discovered that many of the loans I funded rolled over, providing the debtor an additional 2 weeks to cover back once again their debts. I don’t think borrowers should really be offered a supplementary week or two to cover down their debts, particularly along with loan terms being 1 month or less. 7 additional times to repay is sufficient I think. If some body does pay back on n’t time they must be over drafted like some automobile re payments do. Or even overdraft, then they’re account must certanly be charged daily before the funds are repaid. The collections procedure does seem to be n’t with the capacity of all. In the event the loan switches into collections, simply ponder over it gone. We don’t imagine anybody repaying a significantly less than $300 debt in collections, particularly when borrowing from this software does not have any impact on the credit rating. The solamente scoring system is down. We noticed lots of people have high ratings which have never lent cash on this platform. Contacting help can be a discomfort. You are able to just communicate together with them via e-mail and additionally they frequently just take per week or even more to react.

This app would be great if they provided lenders with more payback protection, adjusted the collections process, fixed the scoring system, and added live phone call support.

Developer Reaction ,

Many thanks for the review. We appreciate your feedback so we apologize for just about any inconvenience this might have triggered you.

We wish to explain which our collections process is much more than a contact or two to borrowers. SoLo has a interior procedure to avoid reports from likely to collections. Nevertheless, we pass those accounts onto our collections agency for further action if we are unable to collect loan payments. Those reports will also be obstructed from utilizing SoLo and reported towards the credit reporting agencies.

Whenever financing, there is always risk involved. We should make sure our loan providers are aware of that therefore we have actually supplied some suggestions on guidelines: Checking the SoLo rating and transactions that are previous.

Being a Lender, you’ve got access to see a Borrower’s deal history and if they have actually compensated their past loans on time. It will help you evaluate just exactly how creditworthy a Borrower happens to be. Be sure to become acquainted with the regards to your loan before financing and borrowing. SoLo will not guarantee loans as of this right time, so be sure you are more comfortable with the potential risks you take and read your Loan Agreement carefully.

Please e-mail our help group for almost any questions that are further could have.

My review of Solo

I became hunting for an application that could loan somebody in need of assistance with a working work that may barrow a few dollars online installment loans no credit check North Carolina in some places and repay when payday comes. We tried them all, but every application wished to be my mentor on the best way to cut costs. The apps desired a charge every but wouldn’t loan me any money, cause of this or that, but kept taking there $5 a month and I was pretty upset about that month. I Googled apps that will loan cash and discovered an assessment about Solo Funding, therefore I said what the deuce. I downloaded Solo and registered enjoy it ask us to and asked for that loan. I shall state if you want cash for the future start early together with your request, cause Solo takes time to exert effort. Solo is individuals as you and me personally loaning cash to one another and making a few bucks to assist. We thought it had been crazy, cause for a week i attempted and attempted with no loan. Finally somebody loan me personally what I asked for and I also thought it absolutely was the coolest thing and therefore individual arrived through for me personally (many thanks in addition to whom loan me personally the cash) but that’s just it, we don’t even understand who loan me personally the amount of money, but a huge THANKS compared to that person. All I am able to state is take to Solo it could work for you personally, but don’t get frustrated someone shall help you simply begin early together with your demand before your due date. Thank you Solo Funding for assisting me personally. 👍🏼

Developer Reaction ,

Many thanks a great deal for the review! We appreciate your feedback and now we are content to possess you as an element of the SoLo community!