starstaz:
People should clearly understand that the business climate of this country is awry and hostile to small business owners. Can any banks gives you a loan of ordinary N1000 without a collateral, so we should give this loan shark company a brake to use all resources available to them to claim their money back when their client defaulted in payment. Their ability to give ,evil loan, to dick and array is their only weapon of credibility and fame. Hence nobody should run them down by defaulting regardless of someone's circumstances of hard life. If problems surfaces that you can't meet your payment schedule, the right thing to do is to call the evil loan shark for possibility of loan rescheduling to avoid unnecessary embarrassment. They are evil but are doing magnificent jobs in providing financial cover or defence for those who need helps, emergency help at a critical time and save you embarrassment of going to your contact to explain the need why your friends and family should borrow you urgent 10k to solve personal issues.

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.

danniyal:

You call a loan of 7days at 46% interest help?

Oyerinde16:


Even if it's 100% interest in 2 days, as much as them no force you and you read the terms and agreed to it... My brother they helped your life at your time of need... So do well to honor what you agreed, don't agree, collect the money, spend it and come back with they contacted my contacts...

Oyerinde16:
While you have a point, its the defaulter that deposited your number, and people put other peoples number in cases of emergencies, such that call or contact this person if need be, or can someone go to hospital and ask why he was called because the injured person gave his contact, if you can't help, you go but if you can help them recover you help., they did not manufacture your number from somewhere, someone that knows you dropped your number...

danniyal:

Well you and your Chinese masters are going to pay 10million and end up in jail

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.

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.

Oyerinde16:


Ask yourself why you gave than access to your contact, when they requested for it.

thatsleepboy1:
This is very wrong from the agency. I don't and won't support evil.



They should be fined ₦10b for the damages they've done to people.

AuroraB:
If you weren't given the opportunity to explain why you were unable to meet up with repayment, wouldn't you have been tagged a criminal just as the person you are running down

Atikulated:
Good... Privacy invasion is bad and unlawful. One can only imagine what else they're doing with the million contacts in their DB. They should find more legal ways of going after their debtors instead.

drsibz66:


So becos hasnt paid your loan he is now a fraudster and thief? For God sake its a loan . Go and kill your debtor na and tell the judge in court that you commited murder becos someone refused to pay what you loaned.
Debtors have a right too .

adelaja70:

It's like you are trying to dodge the issue. With all the defamation of xters some will not pay and heaven will not fall. What happens to negotiating with the defaulters first before you assassinate his xter? Sokoloan don't do that...

Oyerinde16:
I'm very surprised people can come to the defence of a defaulter...

true2god:
I don’t really understand your argument here. There is what we call ‘risk appetite’ in business. The higher the risk appetite, the higher the expected return in investment and the higher the loss in investment as well (should something go wrong). That being said, running a Loan-giving business is a very lucrative but risky business with a very high-risk appetite. They should be aware that many people will default and should have found a more appropriate and legal way of recovering their money. Using a gangster and ‘Agbero’ approach actually validated the fact that most of these companies into soft-loan are themselves criminals. It is a criminal offense to blackmail someone who defaulted in loan repayment. You guys are only benefiting from people’s ignorance and high rate of poverty in the land. If all your customers, including the people you send blackmailing SMS messages to, collectively sue you guys for privacy invasion and blackmail, you will forget about their debt and japa.

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.

danniyal:

Thank you very much. Some people here who obviously don't understand life yet are busy supporting evil and extreme wickedness because someone people want to get rich quickly at the expense of other people's sweat

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.

xpool:

What you do is illegal.
If you dont know how to get your money back through due processes, then close shop.
The contacts that you tell that someone used them as sureties and that your customer is a fugitive who stole stole companies money and ran away; such gross deception is what you call due process.
By the time the contacts drag you into legal battles for threat and invasion of privacy you will know that Nigeria has laws.

Dont worry, this will open more ways for avalanche of cases against you.
YOUR END IS NEAR

Oyerinde16:


My brother I don't know soko from anywhere, but I'm pretty sure if they take up the case they will win, I see a case of bullying here...


You cannot collect my loan, refuse to pay, and still slam me fine because I'm using every means available to recover my money... Typical case of Nigerians.... They will cry crocodile tears accepting any terms even using Ogun to swear, once they collect the money and squander it, that's all, they lock up.... If you try to recover your money, they slam you fine, beat you up and even use connections to lock you up... We will never grow with this mentality...


I'm very surprised people can come to the defence of a defaulter...

true2god:
Stop acting like a criminal; nobody is here defending any defaulter. What people are speaking against is your unethical style of loan recovery whereby you tarnish the images of your customers and clog people’s, people who are not aware of your business transaction, phone with blackmailing SMS. You have to stop this approach. I have received some SMS from anonymous people claiming that someone I never even met received a loan and refused to pay back. Initially my thinking was that it was from ‘yahoo’ guys until last week I learnt that it was a loan recovery strategy. If you cannot effectively run a loan-giving business you quit.

This is lawlessness!

alarm4:
Pls do not fine paylater,quick check and Branch .....this App are good

But the rest of them below !!!
9credit,
Ncash,
Xcredit,
Haloocredit,
Easynaira,
Easycredit,
Cashlion,
Fastmoney-soko
Fastcash,
Gocash-soko
9ja cash-soko
Okash,
Lcredit
Palmcredit
All need to be fined 10b for damages of privacy invader

danniyal:

I am equally surprised as to how you are supporting evil Chinese people who are exploiting and killing your fellow countrymen

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.

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)

Oyerinde16:


My brother I don't know soko from anywhere, but I'm pretty sure if they take up the case they will win, I see a case of bullying here...


You cannot collect my loan, refuse to pay, and still slam me fine because I'm using every means available to recover my money... Typical case of Nigerians.... They will cry crocodile tears accepting any terms even using Ogun to swear, once they collect the money and squander it, that's all, they lock up.... If you try to recover your money, they slam you fine, beat you up and even use connections to lock you up... We will never grow with this mentality...


I'm very surprised people can come to the defence of a defaulter...