espn:
Let's team up and deal with this people. I have never borrowed from them but it is very annoying. How do they have access to peoples phone contact. This is completely illegal and complete fraud. Hacking into peoples phone without there consent.

Palmerbarry:
Dear Sokoloan, I will be in my best behaviour while posting this.

I applied for a loan a month back which I didn't repay in time. I got a call from an extremely rude official 5 days after I received the loan. She informed me that payment is due and I should do that immediately. I tried to be friendly but she wasn't. I asked if I could pay part but she arrogantly declined.
The next day I got a call from her again with insults this time. I told her she's not professional with her work and that made her worse. She threatened to disgrace me in the worst way ever (via SMS). My phone got stolen that night. A day after she sent the most devastating message ever to all my contacts. How she got access to them still surprises me. In her message, she said I'm a wanted criminal on the run with company funds. I got tons of messages on Facebook and missed calls and messages on my other line - my former employers, course mates, lecturers, neighbors, family, besties, other influential people. I was really mad! I had over 300 contacts for Christ sake. I called her immediately to send a convincing message to my contacts. She was adamant and continued with her insult, I fired back not minding her age. I threatened to take the case to court, but I was financially down at that moment. My sister called her immediately she got one of her text and they ended up insulting eachother. I called her some days after, she was a bit calm, and I asked if she would resend another SMS and make everything transparent to my contacts. She said once the payment is complete we'd discuss that. When the payment was deducted automatically from my account, I called the number, but the new user doesn't seem to know me. She requested for my login number I gave her but she said she can't access my account. Up till now. I think I've been too calm with them and I am taking it up now.

The worse part of it is I lost most of my contacts which means I may not be able to clarify myself. This is the worst thing ever to happen to someone.




I've mailed them concerning the issue and I'm yet to get feedback.

Pics below:

Palmerbarry:


Thank you, that will be my next action.

AchalugoNwa:
na only me fit them

late last 2 years I took 30k loan from them
I intended paying on time ooo infact I was about to pay them that day in the evening.
but these ediots started their normal way of rubbish insult.
this one na man ooo
next thing is that they started sending useless messages to my contacts
that was when I vowed never to give them shi shi
They call call tire
one of them used her personal number to call me and be begging me to pay even if na half.
i asked her about my image they've dented?
she said nothing
then I told her frankly that I will never pay a dime to them
that my image is priceless.
Meanwhile I've messaged all my contacts to disregard any messages about me that my phone was hacked and a serial blackmailer on the loose.
Hehehehehe they believed me.

Meanwhile the useless sokoloan was still begging and I kuku blocked their numbers and blacklist them
till today I no pay them shi shi

op you're not supposed to pay that money I swear

DesChyko:
Another one is Tecno Easybuy.

Sending random messages to people on Whatsapp because it's not paid.

To think that it is a CBN approved programme worries me. The wordings of this documentation is even appalling for a secondary school leaver.

I don't know the person in question or anyone at all by that first name or surname. And even if I did, I don't know how I became a guarantor without my notice.

Imagine messaging random people to threaten them with lawsuits and defamation.

Let's take a stand guys. This cannot be allowed to stand. Loans have been around since time immemorial but this one is taking a really careless dimension.

Palmerbarry:
Dear Sokoloan, I will be in my best behaviour while posting this.

I applied for a loan a month back which I didn't repay in time. I got a call from an extremely rude official 5 days after I received the loan. She informed me that payment is due and I should do that immediately. I tried to be friendly but she wasn't. I asked if I could pay part but she arrogantly declined.
The next day I got a call from her again with insults this time. I told her she's not professional with her work and that made her worse. She threatened to disgrace me in the worst way ever (via SMS). My phone got stolen that night. A day after she sent the most devastating message ever to all my contacts. How she got access to them still surprises me. In her message, she said I'm a wanted criminal on the run with company funds. I got tons of messages on Facebook and missed calls and messages on my other line - my former employers, course mates, lecturers, neighbors, family, besties, other influential people. I was really mad! I had over 300 contacts for Christ sake. I called her immediately to send a convincing message to my contacts. She was adamant and continued with her insult, I fired back not minding her age. I threatened to take the case to court, but I was financially down at that moment. My sister called her immediately she got one of her text and they ended up insulting eachother. I called her some days after, she was a bit calm, and I asked if she would resend another SMS and make everything transparent to my contacts. She said once the payment is complete we'd discuss that. When the payment was deducted automatically from my account, I called the number, but the new user doesn't seem to know me. She requested for my login number I gave her but she said she can't access my account. Up till now. I think I've been too calm with them and I am taking it up now.

The worse part of it is I lost most of my contacts which means I may not be able to clarify myself. This is the worst thing ever to happen to someone.




I've mailed them concerning the issue and I'm yet to get feedback.

Pics below:

Dreyton36:
Chai this sokoloan ehn if them call u for money and u nor get mind ur own don finish

Lemme drop a story of how sokoloan almost ruined my friend and I

Last yr a close friend took a loan from sokoloan , he always pays back before due date , that's how he was given larger amounts , imagine collecting 50k to pay 56k in just two weeks just imagine

A time came he couldn't meet up , I noticed my friend has lost weight and he had no job at that time , he couldn't open up to me until they started threatening him with soldiers , luckily I had some funds with me so I cleared it up for him

As time goes I needed funds urgently for something , I have a good account history , they had my bvn in fact all my account info that's how the operate
I made a call directly to their company line and we had a long conversation with one of their staff while they were accessing my account, the finally agreed to lend me 250k
Truth be told I was waiting for the worst , and I was to pay back in the weeks and the total money I'm to pay is 285k E sbock u abi , in two weeks o

I paid the money in just 8 days , I had cash in my other account but I intentionally wanted to show them shege
The offered me 300k to pay back 335k I another two weeks
I paid back in just 6days , they were amazed

One day I got a call from one of their staff saying they have a gift for me that I should drop my address, I told them I've already dropped my address in the beginning, (wrong address) the brought me a mosquito net and two pen and three note books , I tell them say mosquito they my house ?

I asked someone to receive the gift on my behalf on that wrong address

I later requested for 500k , I always call them directly , they gave me without hesitation omo I show them shege

They started threatening me with all manner of threats that the know of , they threatened me that they'll take my pictures to the shrine and get me mad , I laughed loud on the phone
It came to a time they were trying to play calm with me knowing all their threats aren't working , till date 1 kobo Dem nor collect

I know someone will say why would I do that
But why would they be sending different sms to your contacts labelling you a criminal over little money with their large interest , they're the real criminals

It's been over 9 months they've not called me , nor texted me and me sef nor even dey Africa not to talk of naija , I've changed my bank infos long time ago

If you must take a loan , be prepared for the worse and the worse they can do is to try to ruin ur image that's all
So before u get any load ensure you delete all ur phones contacts and write them on a book , never you save a contact on ur phone that will bring u a disgrace before them go send your crush say you steal company money

Dreyton36:
Chai this sokoloan ehn if them call u for money and u nor get mind ur own don finish

Lemme drop a story of how sokoloan almost ruined my friend and I

Last yr a close friend took a loan from sokoloan , he always pays back before due date , that's how he was given larger amounts , imagine collecting 50k to pay 56k in just two weeks just imagine

A time came he couldn't meet up , I noticed my friend has lost weight and he had no job at that time , he couldn't open up to me until they started threatening him with soldiers , luckily I had some funds with me so I cleared it up for him

As time goes I needed funds urgently for something , I have a good account history , they had my bvn in fact all my account info that's how the operate
I made a call directly to their company line and we had a long conversation with one of their staff while they were accessing my account, the finally agreed to lend me 250k
Truth be told I was waiting for the worst , and I was to pay back in the weeks and the total money I'm to pay is 285k E sbock u abi , in two weeks o

I paid the money in just 8 days , I had cash in my other account but I intentionally wanted to show them shege
The offered me 300k to pay back 335k I another two weeks
I paid back in just 6days , they were amazed

One day I got a call from one of their staff saying they have a gift for me that I should drop my address, I told them I've already dropped my address in the beginning, (wrong address) the brought me a mosquito net and two pen and three note books , I tell them say mosquito they my house ?

I asked someone to receive the gift on my behalf on that wrong address

I later requested for 500k , I always call them directly , they gave me without hesitation omo I show them shege

They started threatening me with all manner of threats that the know of , they threatened me that they'll take my pictures to the shrine and get me mad , I laughed loud on the phone
It came to a time they were trying to play calm with me knowing all their threats aren't working , till date 1 kobo Dem nor collect

I know someone will say why would I do that
But why would they be sending different sms to your contacts labelling you a criminal over little money with their large interest , they're the real criminals

It's been over 9 months they've not called me , nor texted me and me sef nor even dey Africa not to talk of naija , I've changed my bank infos long time ago

If you must take a loan , be prepared for the worse and the worse they can do is to try to ruin ur image that's all
So before u get any load ensure you delete all ur phones contacts and write them on a book , never you save a contact on ur phone that will bring u a disgrace before them go send your crush say you steal company money

HitlerGaddafi:
Too many bad reviews about soko loan.

What you people actually don't understand is, if a customer refuses to pay back a soko loan, the money will be deducted from the salary of the staff that disbursed the loan. That's why they are so mean and ruthless. Sometimes they will even threaten you with police . The will embarass you by texting all your contacts including your exs and enemies.

AchalugoNwa:
na only me fit them

late last 2 years I took 30k loan from them
I intended paying on time ooo infact I was about to pay them that day in the evening.
but these ediots started their normal way of rubbish insult.
this one na man ooo
next thing is that they started sending useless messages to my contacts
that was when I vowed never to give them shi shi
They call call tire
one of them used her personal number to call me and be begging me to pay even if na half.
i asked her about my image they've dented?
she said nothing
then I told her frankly that I will never pay a dime to them
that my image is priceless.
Meanwhile I've messaged all my contacts to disregard any messages about me that my phone was hacked and a serial blackmailer on the loose.
Hehehehehe they believed me.

Meanwhile the useless sokoloan was still begging and I kuku blocked their numbers and blacklist them
till today I no pay them shi shi

op you're not supposed to pay that money I swear

SavageBoy:


But I've still not gotten how they get the details of a person contact lists,or do you submit all your contact list before collecting a loan?

toprealman:

You mean the OP will borrow 5k from 10000 people?
Baba kilode?

Palmerbarry:
Dear Sokoloan, I will be in my best behaviour while posting this.

I applied for a loan a month back which I didn't repay in time. I got a call from an extremely rude official 5 days after I received the loan. She informed me that payment is due and I should do that immediately. I tried to be friendly but she wasn't. I asked if I could pay part but she arrogantly declined.
The next day I got a call from her again with insults this time. I told her she's not professional with her work and that made her worse. She threatened to disgrace me in the worst way ever (via SMS). My phone got stolen that night. A day after she sent the most devastating message ever to all my contacts. How she got access to them still surprises me. In her message, she said I'm a wanted criminal on the run with company funds. I got tons of messages on Facebook and missed calls and messages on my other line - my former employers, course mates, lecturers, neighbors, family, besties, other influential people. I was really mad! I had over 300 contacts for Christ sake. I called her immediately to send a convincing message to my contacts. She was adamant and continued with her insult, I fired back not minding her age. I threatened to take the case to court, but I was financially down at that moment. My sister called her immediately she got one of her text and they ended up insulting eachother. I called her some days after, she was a bit calm, and I asked if she would resend another SMS and make everything transparent to my contacts. She said once the payment is complete we'd discuss that. When the payment was deducted automatically from my account, I called the number, but the new user doesn't seem to know me. She requested for my login number I gave her but she said she can't access my account. Up till now. I think I've been too calm with them and I am taking it up now.

The worse part of it is I lost most of my contacts which means I may not be able to clarify myself. This is the worst thing ever to happen to someone.




I've mailed them concerning the issue and I'm yet to get feedback.

Pics below:

Karleb:


I think every Nigerian should take this bold step to get these companies out of business.

The annoying thing is about the amount.
Imagine defaming people over poverty striken amounts like 1k, 5k, 17k?

Funny thing is, people who borrow millions don't even face these embarrassments.

I know of civil servant who borrowed loans from banks but couldn't pay back as scheduled because the government was owing them salaries.

Nobody defamed, cursed or threatened them.

This whole thing just dey vex me!

buttlover:


won't the money be automatically deducted from your account?

Redpanter:

I won't blame them entirely. If you know how we Nigerians behave you'd understand. Many don't have the intention of paying back the loan they borrowed. If they are too gentle they'll go bankrupt, na madness we dey like....

There's one other loan company like that(forgot the name), they'll only threaten to message your contacts but they won't. A guy here on Nairaland was saying they are disturbing him too much with calls, so for that he's not going to pay back and he knows they won't message his contacts.

If you are not certain of paying back the loan at the stipulated time don't borrow. No be by force... If you know what these loan companies don see for Nigerians hand you won't blame them, just like a "wounded lion", It's do or die to them now, they don't care how it affects you, they want their money back by fire by force

01mcfadden:


Why default on a loan you took?
Nigerians are difficult to do business with?
It's not fair

dobnina:
Judging from the comments on this thread, I can conclude that most Nigerians borrow with the intention of not paying back.
I learnt my lesson the hard way when I was still soft hearted. I do borrow friends and family and when its time to pay back, I become their worst enemy. I had to let go for my own sanity.
So yes, I support sokoloan going hard on loan defaulters. Nobody forced you to take the loan in the first place. Business is business. You should have read the terms and conditions before taking the loan but because you were too desperate and blinded by your needs at the moment, you just took the loan. If everybody is borrowing without paying back, how will the company progress?
Nigerians are inconsiderate and selfish.
If 100people borrow 1k each with the intention of not paying back, won't most loan apps fold up, so tell me, where will you get your urgent 5k next time?

loswhite:
The problem of this country is lack of basic Education of how certain things work... How can you destroy your credit rating because of 30k? Too many dumb citizens in this country

Palmerbarry:


Yes, you're correct sir, but not 100%
Some people may have planned to pay back when salary arrives, while some others may went as far as uninstalling their app and discarding them.

As an official, the worse I could have done to hurry up reimbursement was:
Day 1: Call, introduce & inform the client about repayment
Day 3: Call and remind and ask reasons for delayment.
Day 4: Call and remind
Day 6: Call and threaten with informing Guarantors on your list
Day 7: Send SMSs to at most 5 guarantors. Try these and watch how the hardened Nigerian melt.

rill:


U deserve to be arrested

HitlerGaddafi:
In addition I can't blame them, these fintech loan companies suffer alot in the hands of Nigerians. Most people borrow from them with no intention of paying back. They may seem nasty but Nigerians will never coporate without being handled with iron hand.

kay29000:


I swear. lol! Before I heard their horror stories, I once tried to get a loan from them...when I didn't get it that same day, I found another means to get the money I needed. Then, the evening of the next day, one guy from Sokoloan called me, and asked if I still needed the money, I said no, and he cut the line immediately like someone that was managing the credit on his phone. It was so unprofessional. I sharply deleted their app from my phone, and never installed it again.

Toktee:
The loan company has access to your contacts immediately you filled their form online.