Let me start by saying that I have messed up.

Last year march while working as an assistant manager at a fast food brand, I took a loan from the bank (N330K) to invest in bitcoin business and was duped -- I live in Lagos. A month after I paid for the bitcoin, I found out that the scheme was bogus. I didn't receive the promised payout nor my investment.

Around that same period I was sacked from my job so I stopped paying back the loan.

For the rest of 2016, I did not have a job. I tried as hard as I can but because of the issue that led to my sack, nobody wanted to hire me. Although I had a place I went to hustle and get like N25k per month I couldn't pay the loan out of the money.

The bank called me many times and I explained this to them. They said okay and extended my time. They csalled me again six months later and it was still the same situation with me jobwise. When I got the loan I was earning N70k per month.

I kept promising the bank that once I got a better paying job I will clear off the balance but I did not get a job until August of this year that pays me N135' per month. I wasn't really responsive. I was uncontactable for long.

With my first salary, I took care of somethings that were more pressing: house rent and my health. I was hoping to pay at least N100k at the end of this month and then N50K subsequently till the balance is cleared.

I got a message from the bank on Friday that they are going to forward the security check next wednesday.

They said they are also going to forward my name to EFFC for issuance of a dud cheque.

Please, I need advice on how to handle this situation. I am willing to pay the money. I just need time. The bank is not listening. They said I have till sept 28th. They pay our salary on the first Friday of every new month.

Please what can I do?

Mature responses only. Thank you

i know they will not send your name to efcc for d dud cheque expect if u have given them any before but Mr man go and pay your money ... if na money lender u borrow this money from, e for don call agboro for u since

bizza45:
i know they will not send your name to efcc for d dud cheque expect if u have given them any before but Mr man go and pay your money ... if na money lender u borrow this money from, e for don call agboro for u since

I gave them two blank checks.

Not that I don't wanna pay -- just need time. I don't know what to say again that will make them believe me. I seriously bleeped up. I am shaking up and down here dud check issue carries two years prison term

malware:
Didn't you give them collateral before securing the loan?

No security. It was a salary loan

Bro for the records the bank has been very kind and lenient with you so stop posting them.
Now that you have another better paying job, thank God for that, you should walk to the bank and talk to them. Make arrangement on payback instead of shaking cuz of 2 years in jail hanging over you if EFCC is involved.
Delaying to see them can be your biggest mistake
Calm down brother and act, at least you got a paying job, wish you the best!

Op since you have a paying job. Half problem solved. Go and meet them with a lawyer and settle amicable with a surety that will guarantee you paying off within 3 months maximum or take another loan to offset this one if you can't borrow from a friend.

You said you have a new job which pays 135k. Good.

I want to believe that the bank of your salary account of your new job isn't the same as that of the former. So take another loan from your new bank, use it to pay your previous loan, then have your salary deducted till the new loan is fully settled.

Good luck.

No cause for alarm bro just pay the bank manager a visit.

best solution will be, you change your new salary account to the bank that loaned you and they do the deductions. voila!

problem solved!

CrazyMan:
You said you have a new job which pays 135k. Good.

I want to believe that the bank of your salary account of your new job isn't the same as that of the former. So take another loan from your new bank, use it to pay your previous loan, then have your salary deducted till the new loan is fully settled.

Good luck.

You want him to take another loan again? What if he got sacked from the new job?

PurestBoy:

You want him to take another loan again? What if he got sacked from the new job?

Understand the angle he's (the op) is coming from.

The bank has threatened to send his details to the EFCC for issuing them a dude cheque and for his inability to repay back the loan. So he's under severe pressure and the only way for him to raise such money in less than a week is to request for another loan in his new bank and hope and pray that he maintains the new job until he's debt is fully settled.

Good news!

My mom has given me the money and I made the payment today, N265K.

My mom lives in Owerri while I live in Lagos. Anyway, she has ordered me to come home this weekend and I can only imagine the bashing that will follow but that's still better than bank wahala.

Thanks to everyone that contributed.

Loans, when used judiciously, can be a great tool for accumulating more money but one has to be diligent. Tonight I will sleep well. The last one week was hell for me and it even affected my performance at work. I am just happy to be a free man at last.