Beancounter94:


Would the loan company have sent messages if they had it defaulted for some time.

I have defaulted twice in loans from Branch. Both times we cane to an understanding and the loan was paid off with 3 days of the deadline

Let people take loans when they know they have the means to pay them back ready. It is that simple. If someone did not pay you back on time would you keep quiet and allow him or her to continue? Or won't you make noise?

ttobizz:

My man maybe a translator might help o. The guy must be a Taliban

Deicide:
I don't support this! Nigerians are very stubborn and always like to play smart. I support soko loan.

hakeemhakeem:
My comments sometimes sometime ago now their head go set

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.

Oyerinde16:
Nitda is wrong on this, Soko takes loan from people(investors) and banks in millions with heavy collateral, they break it down and give people without collateral, they gave the terms of the loan, you accept, they credit you, once you fail to honor the agreement, they have the right to enforce what you agreed in the terms. If you contact your account officer at soko loan before time, they will restructure the loan and give you more time, however if you fail to contact, acknowledge the reminders then they go ahead to your contacts. Its not their fault, they have loans and obligations to meet as well. Its not their fault that you are unfortunate not to honor what you agreed, if you had refused any of the terms during registration process, you will not get the loan, you checked agreed on all the box and still defaulted and don't want anyone to know you are owing, its just like someone defrauding a bank, when u are caught you now say nobody should know because they were not there when you defrauded them, my guy u n huspuppy have things in common.

danniyal:

What do you know about Nigerians? Just thank God for your condition

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.

Deicide:
They are the reason we was blocked from Paypal because of scammers, they are the reason I can't spend more than 100$ internationally monthly. They are the reason why I have lost and find it hard to receive payment for remote jobs. All in the name of playing smart and tricking people. Rubbish

precioussamuel:
Useless set of people, they deserve worst..make God no allow me catch any of there workers I go use beating change there ambition..rubbish

danniyal:


Do you know you can actually add your card and send payment on paypal but can't receive payment?. If they don't trust you enough to receive payments then why would they allow you to send?

Yewandequeen:
sowi.
Those people are idiots and bunch of thieves trust me...they've made lot of people I know lost there jobs because of how much and again there high interest rate is alarming...no be juju be that
The law suit is well deserved. I have gotten couple of messages too about people I don't even remember, probably my customers sha. I was very pissed tht I had to reply the message if they will redeem the person's image after the person eventually pays back. It's really a bad thing from them.

drsibz66:


Oga or.madam... please dont tell us a debtor is a fraudster or thief . Dont equate them they are not the same. Its a loan and its carries some amount of risk.
It very stupid and unprofessional for you to call a debtor a fraudster and start sending messages to his or her contact. Do you know that bank loans are also defaulted but have you even seen on newspaper , tv or internet that mr A is owing a bank and as such he is now a thief.
Before you give out loans you much insure them because people will always defualt. Its a constant. Unforseen circumstances will happen, the loanee can even die.

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.

airsaylongcome:


I understand that they have Ts and Cs. But imagine I have a business number stored on my phone for an enquiry I want to make from that business. The business doesn't know me and they get an SMS that some unknown person is blah blah blah...now imagine if several people have that same business number. Soko Loan and the likes will bombard that number with SMS messages of no value to them

kelbranty:


I have only one question.
Does the contacts (I call them guarantors) on one's phone have any say in the loan process before it is disbursed, that is, do they have the right to say "that guy is a criminal, he won't pay back so don't give him loan. If you do, don't call me when he defaults"

Beancounter94:
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.

jackslow:
if you think what they're doing is the right thing, then why didn't they win the case, the truth is there is government policy guiding every business sector in every country so ths loan companies cannot just formulate their terms N conditions without considering the guide lines given to them by the government.

The companies knows that what ever rules they give some must collect loan in Nigeria
Another reason is they know that there in little or no checks on business in nigeria,policies are made with little or no compliance.

somehow:
Best for them to do a collateral enabled loan option.

You default, you pay 1% daily for 2 weeks, after 14 days, your collateral is sold, they remove what you owe them and return the rest.

Simple.

Oyerinde16:


The more reason you should honor your agreement and don't default, once you default you are no longer at vantage point to say what they should do or not do. You can't have my money and still call the shots... What most Nigerians have turned to, they owe you and still shout at you if you call to remind them, soko will remind you, warn you, then boom message your contacts...

true2god:
You are not making sense. This nonsense can only happen in Nigeria where you, the loan company, will blatantly blackmail and disgrace your defaulter instead of using a legally acceptable and civilized option. Why send me an unsolicited text message concerning your defaulter when I was never aware of your business transaction? In a civilized country you guys would have faced serious litigations, and perhaps, would have gone bankrupt for this unethical business practice.

adelaja70:

One of their workers.. How are you today?