How to Cancel SoLo Funds

I was looking for an app that would loan someone in need with a job that can barrow a couple of bucks here and there and pay it back when payday comes. I tried them all, but every app wanted to be my coach on how to save money. The apps wanted a fee every month, 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. I Googled apps that would loan money and came across a review about Solo Funding, so I said what the heck. I downloaded Solo and registered like it ask me to and requested a loan. I will say if you need money for the future start early with your request, cause Solo takes time to work. Solo is people like you and me loaning money to each other and making a couple of bucks to help. I thought it was crazy, cause for a week I tried and tried and no loan. Finally someone loan me what I asked for and I thought it was the coolest thing and that person came through for me (thank you by the way to whom loan me the money) but that’s just it, I don’t even know who loan me the money, but a BIG THANK YOU to that person. All I can say is try Solo it might work for you, but don’t get frustrated someone will help you just start early with your request before your deadline. Thank you Solo Funding for helping me. 👍🏼

Let me walk you through my experience so far with this app. I need a small loan to help pay off a bill that was coming the day before pay day. So I used this app. Followed all the instructions and what not and got my first loan funded! Now listen it takes a minute the first loan, about a day or so to process at most! But this customer support team is the best service I’ve ever gotten!! I must have messaged them 9 times via live chat to talk to them and they were always timely never more than a 2 minute wait. They helped me understand the waiting process and talked me though the whole process. You start with a low line of credit, mine was $100 first Loan max. I got a $50 Loan and paid back within the week so I got a little increase! I took a second loan out this week and I got it funded and in my account in under 5 minutes! Give this app a chance if you really need the help! Will update the review if I can ever try being a lender when I’m more finically stable!

I love the idea behind this app however with many apps, comes some quirks and you can call or chat w/someone (perhaps not many apps but I think the ones dealing with my bank account info and access to debiting and crediting my account, I should be able to speak to someone). Last week 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. 24 hours later I get a response that didn’t really have anything to do with what I had asked or needed. It ended up with me canceling the loan (via ridiculous emailing again) after 4 different times I sent out tickets and responded to their messages. Not once did I get a response that came close to fixing the issue I feverishly tried explaining 5 separate times. It’s easy to use and understand and there are many people borrowing as well as willing to lend. I just cannot excuse their lack of understanding and the ridiculous means of communication one has to go through to speak to someone human... who still can’t help more times than not.I love the iPhone

When a loan goes accordingly, it’s a quick return on a small investment. I wish the app allowed more information like how long a borrower has been on the app and the reasons for previous loan in addition to whether they paid on time. The first few loans I funded were on time and paid I full so I got more confident in give more money. I have 2 loans yet to be paid and I’m nervous. The app doesn’t inform you if the person chooses to rollover or if they’ve been on the app. I’d like to be assured that something is happening so that I can be my money back. I can’t just trust that maybe after months I’ll get a small percentage of my investment back. The app should allow atleast limited interaction so that borrowers can communicate any issues as well. Also if a borrower has yet to accept a loan, lenders should be able to cancel. That’s why it’d be helpful to see user activity on the app so we know whether the borrower has even seen that there’s someone to fund them. I just wish lenders got some type of guarantee instead of just being left in the dark.

From an investors standpoint, this app has great potential, but does little to protect lenders from losing money. I’ve lent over $16,000 to more than 60 individuals and found that most people on this platform pay their loans back late, with many not paying back at all. I found that most of the loans I funded rolled over, giving the borrower an extra 14 days to pay back their debts. I don’t think borrowers should be given an extra 14 days to pay off their debts, especially with all loan terms being 30 days or less. 7 extra days to pay back is enough in my opinion. If someone doesn’t pay back on time they should be over drafted like some auto payments do. If not overdraft, then they’re account should be charged daily until the funds are repaid. The collections process doesn’t seem to be effective at all. If your loan goes into collections, just consider it gone. I don’t imagine anyone paying back a less than $300 debt in collections, especially when borrowing from this app has no effect on their credit score. The solo scoring system is off. I noticed many people have high scores that have never borrowed money on this platform. Contacting support is also a pain. You can only communicate with them via email and they often take a week or more to respond. If they provided lenders with more payback protection, adjusted the collections process, fixed the scoring system, and added live phone call support, this app would be great.

I want to delete my solo funds account please.