MITCHELL96:
Loan no good oo, Avoid it!!

I shaa remember one of my guy that collected 25k from one loan app, BRANCH by name, till today he never paid them back, they disturbed him for months and later gave up chai!! Basil, You get mind

So you believe they gave up?
I laughed in Chinese
The day your friend will have something to do with international transaction will be the day he will receive the shock of his life

What i'm saying is that his full details (through his BVN) is blacklisted
If you doubt me, tell him to go to his bank and ask them to check his BVN in blacklist

I used to occasionally borrow from migo small amounts 2k, 5k when I'd be in need of money, but unfortunately I've grown my loan amount passed what I'm willing to pay interest for, and neither can I afford to pay off such amounts within the given time frame.

The MFers don't have an option to select an amount you are comfortable with, they keep increasing the amount every time you pay them off which seems malicious, it's like they want you to collect a loan higher than you can afford, so they can ruin your reputation.

To collect load dey sweet, to repay, same mouth they go use thank you for your business, na same mouth they go use insult person...

Still remain your #1 plug for Original Backwoods

EmekaBlue:
They should just send those fintech companies especially the chinese shark loans away from Nigeria to stop these uncultured recovery defaming method....Its more harm than any good. You are even a slave to them when you take their loans no matter how good record you have been patronising/helping their business as many now avoid them to make them too much profit/money. One default dey drag u on the ground like a common criminal even involving your whole family

1. Unbelievable high interest rate
2. Just 7days to repay almost half of the money u got like if it's easy why don't they maybe go make double of the money themselves without using baits to help them make money
3. The loan amounts are usually useless like 1500,2000. You have to keep borrowing for a long time before you get something tangible

And many more red flags. I no get time

Bros, I have dealt with them starting from the days of paylater. I stated with 10k and built up my credit. As at the last time I check a year ago, they were offering me 500k. Even when I had need for money I only took 100k instead of maxing the 500 knowing I may have difficulties paying the 500.
All the loan companies, even new ones I don't know offer me money.
The truth of the matter is that we are a high risk country and so interest rates must be high due to high default. Over time when your credit rating is established you get better terms.
Nigerians don't naturally repay loans. Lend the advarage Nigerian money and he thinks he has used your head. Quarell must come.
Most people operate like buhari and not Peter Obi. Why will you take a loan of 10k for a week when you know you have not guaranteed expectant 10k in the next 7days. Ohh, the average Nigerian will say by miracle or God, that day will sort out itself!

Tomahawk99:

Na you dey talk rubbish. Okash, Branch, Cabon, Alat etc no dey harass the person not to talk of involving the person's contacts.
Like he said there are better ways of loan recovery, you have to be a tout to support such mode of doing business. If person dey owe you there are legal ways to go about it, ask sokoloan how far dem bill them 10 million naira for that bullshit, next one na to close the app.

me and you no get talk.. Go borrow make u no pay..then make them msg your contacts.. Then charge them to court make u collect 10m too na

You can't blame them. That's business for you. You know also that many Nigerians, if you don't use force, you might never recover Your debt from them

I blame both parties tho. If u collect loan pls pay back when it is due do not extend it..for the loan company pls stop sending your stupid messages to their close contacts.

abbey621:


Have you ever signed a loan application and read the terms and conditions of the contract? I suggest you don't embarrass yourself any further!

have u tried the fintech?

Simdyofficial:
Anybody owing should pay.. Very simple.. This is business..

And.does that justify reporting the loan defaulter to his contacts that were never part of the deal from the start?

Tomahawk99:

Na you dey talk rubbish. Okash, Branch, Cabon, Alat etc no dey harass the person not to talk of involving the person's contacts.
Like he said there are better ways of loan recovery, you have to be a tout to support such mode of doing business. If person dey owe you there are legal ways to go about it, ask sokoloan how far dem bill them 10 million naira for that bullshit, next one na to close the app.

He is one of their staff obviously. That's why he is taking sides with them

robosky02:




When you come on line don't just start by insulting read first


In the article somebody applied for extension and paid outstanding

Only to be called by his pastor that the loan company told him his member is a fraudster
When he has already paid.

The question is why all the names when you can intelligently recover debts

Simdyofficial is one of those idiots that think they have brain, not knowing what they have in their skull Is sawdust.

We have too many illiterates running theses loan businesses taking advantages of citizens, interest rates are outrageous... Return policies are poorly operated.... Majority of them are third parties ..... They're constantly defaulting the CBN regulations I think the federal governments should get involved immediately

SOKO LOAN ARE FRAUDSTERS BEWARE

Simdyofficial:
Anybody owing should pay.. Very simple.. This is business..

Shut it up. Some of this loan companies are out to swindle innocent Nigerian. Some paid and their app refused to update their payments days after the payment. Again, some deliberately refused to answer to your calls for solutions because the more the delays, the more the interest accrued to the victim.
This is Nigeria where such companies looks for loop holes to swindle innocent Nigerian of course thinking that most people don't know their rights nor knows the authorities to report them to. Just like the police officer plays on many motorists intelligence in other to cash out on them.

After my brother helped me clear my dept I decided not to borrow from them again. Those people go embarrass you with calls to your family and friends.
But awu don start again, God wetin man go sef

effort1:


And.does that justify reporting the loan defaulter to his contacts that were never part of the deal from the start?

if your brother offends you and still doesn't want to apologise, won't you alert your family members

Most of u guys quoting me can kill for 1k oo

Hanks0000:


Lcredit is the worst of them all... Thank God I'm alive to type this.. I contemplated suicide two months ago when I defaulted just 5k... Things was so tough...

Lcredit will embarrass the living day light out of someone if that person defaults. They may give you 2days of grace if they check your records and see you are a loyal customer who haven't defaulted before.

After that two days, just get ready for the worse embarrassment of your life. They will call your contacts and your ancestors join.

These are bunch of touts and hooligans operating loan company.

Thank God you don pay them.

Pegi23:
I blame both parties tho. If u collect loan pls pay back when it is due do not extend it..for the loan company pls stop sending your stupid messages to their close contacts.

How is 7.2% of 150k 107k?

Business in Nigeria sha. It can taya person. People who are owing should please go and pay

One thing about the loan sharks is that most are designed to make you defaut:
1. Very high interest
2. Very short maturity
With these two factors, no matter how credit worthy you are, it's just a matter of time before you find yourself in serious debt because you'll keep borrowing from other loan apps in other to service their extraordinary high interests. It'll get to a point you won't be able to borrow from other apps because they'll decline your loan application due to your heavy loan commitment with other finance institutions. Then you get stuck! On the long run you'll have to choose between continuing to pay the heavy debts or survival. Most people will choose the latter when the loan burden starts to choke them. It is well!

effort1:


And.does that justify reporting the loan defaulter to his contacts that were never part of the deal from the start?

I just wonder. (Olu Jacobs) slangs came to mind.

Hmmm

Chuksmonika:
Lcredit will embrace the living day light out of someone if that person defaults. They may give you 2days of grace if they check your records and see you are a loyal customer who haven't defaulted before.

After that two days, just get ready for the worse embarrassment of your life. They will call your contacts and your ancestors join.

These are bunch of touts and holigans operating loan company.

Thank God you don pay them.

I swear!!!! I sweard to myself that I will never take loan from any loan apps again.. Now And in the future... I start getting panic attacks at some point when I receive calls because of their calls and threats...

collinometricx:


How is 7.2% of 150k 107k?

it isn't but I think bank should be the safest place to collect loan or from families and friends

jaxxy:


I didn’t say they shouldn’t pay their loans. It’s irresponsible not to pay ur loans. I’m just saying give them better payment plans or Smtn than chasing them or embarrassing them.

Many of these people are bigger than the loans they are chasing them about for. They can do better.

Even amcon hasn’t arrested anyone for not repaying billions oo.

What did these loans coy do for their many customers during the pandemic or post pandemic?

This type of mentality is why we are f*cked as a nation! Are all loan companies as big as Amcon? Some of these loan companies are not even worth 50 million Naira. The fact remains that they did not force anyone to collect loan, as a grown adult you are responsible for every contract/agreement that you signed, it is only in Nigeria that someone will borrow money and still blame the loan company for his or her own failure to pay.

Oldmansense:
To avoid been embarrassed, after taking your loan, go.to app.settings under settings. Select app setting a den look for app permissions and remove all permission assigned to the loan app. From that moment they will.notnbt able to. access your contact list to get your friends number. Or possibly delete the loan app from your phone after borrowing. I will be proud Nigerian

eh no dey work bro. Once you download their app and grant them access, your contacts and media files will be stored in their database.

collinometricx:


have u tried the fintech?

I have no business with fintech, I am talking about loans in general. If you signed for a loan, you are usually vetted or verified using certain information including point of contacts/references. They use this in case they can't reach you later on, it is standard so I don't understand how you can claim it is illegal or inappopriate!

Simdyofficial:
am suppose to report you to get banned for calling me and idiot but no.. I like to give it when kids like this try to show themselves.
Your mother is the idiot here for giving birth to you.. You accepted the terms and conditions- you hear what this companies do and still went ahead to collect the loan. Now to pay back you are giving excuses.. I pray your business see such then you can use your saliva to pay rents and feed your kwashiorkor kids. Fool

Those other people contacted, are they also part of the agreemen?! You fool?

The individual that requested for extension before due date nko? The extension was granted, yet they went ahead to call him fraudster. How does your dead sawdust brain explain that?

Can you now see that it is your father and mother that are idiots?

Simdyofficial:
if your brother offends you and still doesn't want to apologise, won't you alert your family members

Most of u guys quoting me can kill for 1k oo

Imagine the stupid way you reason! Go tell this to your parents and I'm sure they will regret the day they gave birth to a dumb fool like you.

Oldmansense:
To avoid been embarrassed, after taking your loan, go.to app.settings under settings. Select app setting a den look for app permissions and remove all permission assigned to the loan app. From that moment they will.notnbt able to.access your contact list to get your friends number. Or possibly delete the loan app from your phone after borrowing. I be proud Nigerian

Your information has already been spooled once you give them access even before borrowing. And it's already stored in their database, even if you later delete their app or remove their permissions it will be of no use.

effort1:


Those other people contacted, are they also part of the agreemen?! You fool?

The individual that requested for extension before due date nko? The extension was granted, yet they went ahead to call him fraudster. How does your dead sawdust brain explain that?

Can you now see that it is your father and mother that are idiots?

onigbese go and pay your debt. Stop making noise