I knew that app is a trojan horse. The N10m fine is too small.

Joysticks:
I think before one access their loan he/she might have seen their terms and conditions which is defamation,but the oni gbese will ignore to read it because he/she is desperate to access the loan.

Indeed

There was one time i preferred to wait 3 days to take a loan from the loan app simply because waiting would have ensured I had money to pay back at the end of the loan period

Good. Bombarding people with stupid and defaming messages. Some people wey i never talk to sef since we left school, dem go say i shud run from them. Like say i dey with them b4. Idiots

Na so them send me say one Onyinye is owing them. Whereas I no no her. My babe taught I don take guarantee for one of my side chick. I have to clear my name. Nonsense app

All the soft loan company run on this model. So how are others getting away without fine while Soko loan is brought to book? Probably the management of Soko loan doesn't know how to shake hand properly with government officials.

Joysticks:
I think before one access their loan he/she might have seen their terms and conditions which is defamation,but the oni gbese will ignore to read it because he/she is desperate to access the loan.

You get it wrong here.... They have no terms and conditions on their app about defamation of whatsoever kind

Welcomed development

Very useless people

Whew!! About time. Now my colleague can breathe easy Their messages are just so annoying, especially when you are expecting credit alert but instead your phone vibrates and you see SOKOLOAN.

Joysticks:
I think before one access their loan he/she might have seen their terms and conditions which is defamation,but the oni gbese will ignore to read it because he/she is desperate to access the loan.

No terms and conditions will ever supercede Nigerian constitution and policies.

Very Very BIG GOOD!

Nice one

There are more legal and better ways of retrieving the loans than sending unsolicited messages to contacts that did not consent to your terms and conditions. You have done everything wrong by sending me a message for what I know nothing about...

Simeonjoe1:
How are we stealing people's contact?
But the customers read the terms and conditions before applying for loans.

Nigerians are always used to getting things free, they still want to ransack this one. Pls could we get our money back if we don't follow this due process.

Wow great news

Beancounter94:

While I hate sokoloan for other reasons, the reason why they take such extreme measures is because they don't have a choice

1..many of their customers don't pay back at all or very late

2. Records and registrations in Nigeria are very very poor.

Having said that I agree their methods are too harsh. Having said that if you are planning to take a loan from one of those loan companies like sokoloan and paylater and branch, as the terms and conditions says make sure you have the means to pay as and at when due.

Them loan companies are evil but they unfortunately meet a need. Our banks won't give you a 5000naira loan for two weeks. Even if your salary is domiciled there ( except for a few)

Banks give salary advance loans

Beancounter94:

While I hate sokoloan for other reasons, the reason why they take such extreme measures is because they don't have a choice

1..many of their customers don't pay back at all or very late

2. Records and registrations in Nigeria are very very poor.

Having said that I agree their methods are too harsh. Having said that if you are planning to take a loan from one of those loan companies like sokoloan and paylater and branch, as the terms and conditions says make sure you have the means to pay as and at when due.

Them loan companies are evil but they unfortunately meet a need. Our banks won't give you a 5000naira loan for two weeks. Even if your salary is domiciled there ( except for a few)

How many people have paid back after such deformatory messages have been sent to their contacts? The truth is, only a fool will pay back after such messages have been sent.

OceanEye:


You get it wrong here.... They have no terms and conditions on their app about defamation of whatsoever kind

They do.

Paylater, Branch and Palmcriedit as well as quickcheck all warn you that if you do not pay back your loan on time they will call your contacts on your phone after a certain time.

The fact that the app asks you to have access to your contacts before you can install the thing (and if you say no that is the end of the installation) should clue you that something is up.

That's why it is good to read t and c sometimes. I do. It is available on their site or on the app faq

Pay your debts..
To avoid Gbas Gbos..

That's good for them useless loan app

Joysticks:
I think before one access their loan he/she might have seen their terms and conditions which is defamation,but the oni gbese will ignore to read it because he/she is desperate to access the loan.

The world lives on loans, so every nation and peoples are all "onigbese". Even Nigeria is owing debts, the Americans live on credit, that's how it is all over the world. It's obvious you work for one of the loan companies.

There is nothing sensible about defaming people just because they couldn't pay up before the due date. You will even damage their reputation before their business partners from whom they are expecting money, yet you expect them to pay you back in full with interest. That's evil...

Read what the Bible says about usury and understand that your services are just inhumane. The defamation part is what damages everything.

Wow...Good news!

pek:
How many people have paid back after such deformatory messages have been sent to their contacts? The truth is, only a fool will pay back after such messages have been sent.

So why did the guy take the loan without making sure he or she had the means to pay back settled?

That is what every loan app tells you. Before taking our loan make sure you have the means to pay us back as and at when due.

Yes i use loan apps. Yes i was in a situation where i could not pay back on time twice and had to even beg for grace self!

They score A1 in poor customer service.
Their staffs are so rude,so arrogant and they go as far as calling all your contacts in order to retrieve their money,and if you start questioning them,telling them how you're not the debtor's guarantor and how did they get your contact,they go insult you join .
They also send messages to all the debtor's contacts on how the debtor and his family are thieves and you should avoid any financial dealings with them ,also claiming that the debtor have run away with company's money . They are bunch of psychos .
As much as I don't support borrowing money and not paying back,they are going just too too far about the whole situation.
You don't do this in a developed country without being sued and fined heavily for privacy invasion.

Beancounter94:


They do.

Paylater, Branch and Palmcriedit as well as quickcheck all warn you that if you do not pay back your loan on time they will call your contacts on your phone after a certain time.

The fact that the app asks you to have access to your contacts before you can install the thing (and if you say no that is the end of the installation) should clue you that something is up.

That's why it is good to read t and c sometimes. I do. It is available on their site or on the app faq

Calling your contacts to tell them to ask you to pay your loan is very different from calli.g or texting your contacts to tell them you are a fraudster and you ran away with company's money.

drsibz66:



Banks give salary advance loans

Yeah that's why i said except for a few.

My own salary account bank doesn't sadly.( tho they can offer higher loans for things like business and mortgage!)

I laugh money that won't be seei

Beancounter94:


So why did the guy take the loan without making sure he or she had the means to pay back settled?

That is what every loan app tells you. Before taking our loan make sure you have the means to pay us back as and at when due.

Yes i use loan apps. Yes i was in a situation where i could not pay back on time twice and had to even beg for grace self!

Have you ever heard the phrase " circumstances beyond my control". Most of these so called defaulters actually didn't plan to default. Circumstances happen.

KingTom:

You're the only wise person on this thread. You took a loan and now you do not want to pay back and you expect them to clap for you?

We shouldn't clap for the debtors,but we shouldn't clap for sokoloan as well. Their method of recovery is not fair, not to the debtor but the contacts on his/her (debtor) phone. The contacts aught to have agreed to be a a tool for recovery or be responsible for the payment in case of default before they can send such messages. If many of the contacts were contacted before the loans were disbursed, do you think most of them will agree to it?

tamdun:
my wife's phone was stolen and all her money withdrawn, now one migo is calling my sister that one Mrs(my wife) borrowed money from them, those mofo even use one of her contacts as guarantor,the fraudsters just picked one num from her contact list...

Nigerians are funny.

post=104957570:
Good for them for their sometimes overzealousness and at the same time, our citizens should learn how to pay the debt they borrowed at due time.

Some borrow with the mind of never wanting to pay back their loan.
Criminal attitude, you see their comments online here like
"Me, I go just borrow and throw away the SIM CARD for life, they will never find me or locate me"
Just imagine that!
Even things as small as MTN #100 recharge card.
Sick attitude.

Be the CHANGE you wanna see.

As if your "Daddy" has paid the trillions he's owing IMF and China on Nigeria's behalf.

drsibz66:



Calling your contacts to tell them to ask you to pay your loan is very different from calli.g or texting your contacts to tell them you are a fraudster and you ran away with company's money.

Becauae sadly , and I am.not saying that everyone does It, some customers are those kind of people. People who take loans without having any intentionof paying them back

Here on Nairaland we have seen guys and girls proudly boast of their strategies to beat payday loan apps. Including installing app on a phone with zero contacts.

Ishilove:
Whew!! About time. Now my colleague can breathe easy Their messages are just so annoying, especially when you are expecting credit alert but instead your phone vibrates and you see SOKOLOAN.

Your colleague or you.