Consumer complaint received 2024-09-02 00:00:00
Product: Money transfer, virtual currency, or money service — Mobile or digital wallet
Issue: Fraud or scam — 
Company: SoLo Funds Inc.
State: GA

Complaint narrative:
Respected Sir / Mam, There is an app by the name SOLO. In this app we can lend money and borrow money. Basically we have to pay a solo fees to lend money aswell as to borrow the money.

Through this app I lended {$130.00} to a customer. In this amount {$20.00} was solo fees and other charges. Basically the loan amount was {$100.00} rest {$35.00} was tip and fees of Solo. I was suppose to get the return of {$150.00} in 2 weeks. 
The customer failed to make payment on time ( not sure as I am only aware of the customer name. His contact information was not disclosed to me ) The customer might have paid on time but Solo hiding the information. 
There was an offer from solo which did not had any information. The offer was for {$95.00} and it changed to {$67.00}. 
I emailed team solo to provide me more information about the offer but they just wasted time and all the time they demanded to prove my identity and the information on my solo app account. I provided couple of times but still no information was provided.. 
with the intension thst we pay solo fees thats the reason solo has offered me this amount on behalf of the loan and the rest they will recover and pay me. 
I accepted the offer of {$67.00}. 
Later it showed that the loan has been closed and the settlement is done for {$67.00} and this amount will be available in solo credit which I can only use to loan another customer. 
I emailed team solo that I dont want to do any settlement. I am willing to wait till the customers is not capable to pay me the money. In fact I am willing to forgive the money also if the customer is really in a bad shape. I dont want to give more problems to someone who is space facing problems. On humanity grounds I will forgive the entire loan. 
But solo forcefully close this deal and forcing me to take the loss when I am willing to wait. But solo telling now the deal is closed and nothing can happen. 
I emailed solo and informed them if solo has settled this deal with me for {$67.00} forcefully then they have no rights and authority to collect the money from the customer on my behalf. I am not giving any rights to recover my money from the customer to solo. I want the customer written letter that solo has settled this deal with the customer for {$67.00}. But there is no response from solo on this. 
I am being forced to closed this deal in loss by solo app. I am willing to wait but still solo forcefully closed this deal. 
Solo forced me to take loss and now on my investment they will recover the entire money from the customer. 
We dont know that the customer might have paid on time also but the payment is not made to us directly. Its made to solo first and then we get the payment. 
At the time of lending I had not accepted solo protection then solo should not give me any offers in the first place. They misguided me with offers instead of mentioning settlement. 
This is how they forcefully take our money and fill their pockets. 
How to get justice?

Company response to consumer: Closed with explanation