# What happens when a loan goes to collections?

> SoLo attempts to recover funds on behalf of the lender for 90 days after the scheduled repayment date. After that, we transfer the account to a third-party c...

Source: https://faq.solofunds.com/en_us/what-happens-when-a-loan-goes-to-collections-SJqnnctxt

Last updated: 2026-02-11T17:14:52.078Z

SoLo attempts to recover funds on behalf of the lender for 90 days after the scheduled repayment date. After that, we transfer the account to a third-party collections agency. Once a loan is sent to collections, the borrower has the option to pay in-app or directly to the third-party collections agency.  

When payment is received, the third-party collections agency will keep up to 35% as their fee, and SoLo will pass along the remaining 65% to the lending member.  

If you have any further questions about the collections process, please contact our [support team](https://faq.solofunds.com/contact/contact-us-ByUlYJoZF).