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What happens if the borrower defaults on their loan?

Comments

4 comments

  • Ankit Modi (ankitmodi87

    once borrower default on loan how you send this to collection there is no clarity on that & how you inform to investor about when & how he will be getting his money back after borrower has defaulted on loan

    1
  • Terran Steele

    I also think that you guys should be updating the investor on what's happening with their money. My first time trying this out the borrower has already defaulted, and I have no idea what lenme is doing about it or how long for any resolution. Had I known all that s before, I would've invested my money elsewhere.

    1
  • Deanbuttitta

    What collection agency is used by lenme?

    1
  • Ankit Modi (ankitmodi87

    Any update on the Information investor about their defaulted loans from borrower ?

    what is typical timeline that investor can expect to recover their money ? 6 month-1 year ?

    is there any plan to update investor about in what stage their defaulted loan is in ?

    1

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