Oyerinde16:


Account that is hungry, is it that acc u want to collect from...

jackslow:
please is not about sentiment is about is about legality of what your company is doing, the government has set up loan recovery procedures for your company to follow, your company has to follow it, or at most don't do anything illegal to in order to recover your loan it may back fire just like sokoloan.

Secondly the customers does does not give out their contacts unless in some cases where they request for 2 or 3 family numbers, in that case they may contact those people, even that case the the loan company can not defend it in the court, because of you're giving somebody loan because of me then you have to inform me, not just to call me when he has defaulted.

Finally play store does not allow apps that give loans of less than 30days, apart from Africa where the laws are not working you can't give out 7days loan.

Oyerinde16:


Did your friends younger brother tell you before hand he was implicating you in a transaction, No I guess, yet he used your contact details without your consent, he still had the nerves to default knowing fully well you might be contacted, he called soko bluffs right, you can't help him to pay as well, and you will not be weary of him (nice) but if a call came from the police station asking if you know AAA, you will be more than glad to go bail him, or a call came from the hospital will you ask them if you were there when he had the accident. Stop being sentimental, you want to chose scenarios... If soko called you AAA has #10m you will not ask if why he put your number....

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.

Beancounter94:


Yes i think they do report one to the Nigerian credit bureau. And it affects your credit rating.

(Paylater has a feature on their app that shows how your credit rating is)

But all in all we don't have good enough databases. That's why for most loan companies all they have is your phone in lieu of your address

PurestBoy:
My friend owed them 20k cos I called back and asked, and when I told them that is unethical and it's defamation, the lady insulted me and called me thief too.

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

SenecaTheYonger:
I remember one guy on romance section made a thread about how these guys wanted to tell his crush that he was oweing them money. I didn't believe him them but. But now, omo these guys na werey

jackslow:
but that's the law you have to obey it, otherwise be ready to pay fines from time to time, or you can change line of business. And by the way on can't spend spent 3months without banking so you will surely get your money with even accumulated interest. Those companies are coming to Nigeria to do what they can not do in Europe

authority2006:


Lol. You are so sure that he would go and bail him at the police station or start looking for hospital bill settlement. It doesn't work like that

Hassanmaye:

But some people collect the loan and still don't pay and never get caught I wonder how they do it

wunmi590:


The joy on their debtors would know no bound now

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?

Hassanmaye:

But some people collect the loan and still don't pay and never get caught I wonder how they do it

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:


I know the workings cos I work in communication sector, apps may have your bvn, and card details, they can only withdraw money from the account they have your card details and can never withdraw from other account, for a fact, if you input a card details today, borrow #10m go to the bank and change the card, the app company can no longer remove money from that account. Criminals have mastered this

Guys no de sleep for night o...

Oyerinde16:


If there actually was sanity in the first instance, there are better ways to handle a loan before default. You knew the implications involved in the default, yet you defaulted, but you don't want the repercussions... Nigerians....

xpool:
You dont know the law at all!This penalty against your slave master - SOKO LOAN speaks volume of your "repercussions". You steal peoples money, even when they have paid, yet you font return their money - "repercussions" indeed.Waite my dear, you go see litigations soon, and soko loan and their likes will deny you and all their staff. Then the court will explain to you the true meaning of repercussion.Better start looking for a real job or did you go to school to be a thug?

xpool:

You dont know the law at all!
This penalty against your slave master - SOKO LOAN speaks volume of your "repercussions"
You steal peoples money, even when they have paid, yet you font return their money - "repercussions" indeed.
Waite my dear, you go see litigations soon, and soko loan and their likes will deny you and all their staff. Then the court will explain to you the true meaning of repercussion.
Better start looking for a real job or did you go to school to be a thug?

Oyerinde16:


My bro, Nigerians have mastered the art of never using the account they used to borrow again, I know the workings cos I work in communication sector, apps may have your bvn, and card details, they can only withdraw money from the account they have your card details and can never withdraw from other account, for a fact, if you input a card details today, borrow #10m go to the bank and change the card, the app company can no longer remove money from that account. Criminals have mastered this and so app companies are trying to Match up by upping their chase as well. They know most people hate embarrassment, so they explore it not minding who's ox is gored.

KazikageSama:


https://punchng.com/nitda-imposes-n10m-fine-on-firm-for-privacy-invasion/

adelaja70:

This guy sef.. It's like they are paying you. Didn't you read negotiate in my comment? What's wrong with you man?
You no get brain ni?

Heterodox:
Bring those terms and conditions here.

true2god:
The Oyerinde guy would have done better as an NURTW member working for McOluomo. A tout will always be a tout, educated or not.

Ekakamba:

---

E be like they deserved it, based on some of their customers' comments here.

depure:
I don't support this in any way the borrower consented to the terms and conditions... They should challenge it in Court abeg which kind of nonsense judgement be that....Nigerian we like free money..

smokeyupu:


Guy no try them or their sister companies. They'll give you loan to collect 25-40% interest in a week. Early morning on dday they'll start sending defamatory messages plus threatening phone calls to your contacts.

No apologies!! Even after you've paid up...