Guys this people are crazy. At least you should be able to give some one 3 days or even one week to pay up. The very day your loan is due you start getting embarrassing messages. I just wonder what usless app is that. They sent a message to all my contacts after I have paid. My friend salary was delayed for just a day and they went haywire even sending to his boss a useless message. I was mad. Those guys re evil. How can you call someone you re talking to everyday a running thief. I just wonder who is heading those idiots. They should withdraw their license. Rubbish

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.

. There is nothing in there condition that states that all your contacts will be sent such a message if you default, I had issues with them over a small amount, when one of my friends called the number and got the amount, he was so mad. Some times you don't want to bother people, I know some people just don't like paying debts but these Chinese are very mischievous

kingandamy4life:
Guys this people are crazy. At least you should be able to give some one 3 days or even one week to pay up. The very day your loan is due you start getting embarrassing messages. I just wonder what usless app is that. They sent a message to all my contacts after I have paid. My friend salary was delayed for just a day and they went haywire even sending to his boss a useless message. I was mad. Those guys re evil. How can you call someone you re talking to everyday a running thief. I just wonder who is heading those idiots. They should withdraw their license. Rubbish

unfortunately most of them don't even have the licence, they don't have physical address

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.

You are on point on this!

Glory be to God.
Now, I can die in peace.

Beancounter94:


That means I can take a loan from you and refuse to pay it back.

Thanks also for implying I have no brain. That's very well behaved of you. It does cost you nothing to be not abusive

Good even

I'm sorry but the way you are fighting for them as if they are clean.. Tire mi ni o.

tamdun:

The used her sim card, u never hear of ussd code ni

I still believe you're lying bcus I have used this loan app B4 they won give you money until ur ATM card of which they will deduct money from the account

adelaja70:

I'm sorry but the way you are fighting for them as if they are clean.. Tire mi ni o.

They are not clean, which is why if you cannot afford to take a loan, then don't take one. Especially since you know what they do to people who do not pay back as when due.

Lord knows I don't like saying this message. But the thing is, if these companies go out of business because Nigerians don't pay them on time, where are many of us, you inclusive, going to get a payday loan? At that rate.?

Considering the banks don't give out that type of loan easily.

Beancounter94:


They are not clean, which is why if you cannot afford to take a loan, then don't take one. Especially since you know what they do to people who do not pay back as when due.

Lord knows I don't like saying this message. But the thing is, if these companies go out of business because Nigerians don't pay them on time, where are many of us, you inclusive, going to get a payday loan? At that rate.?

Considering the banks don't give out that type of loan easily.

some banks have started giving at good rate of 1. 5 % to 2% specifically Gtbank, UBA, access bank I think WEMA bank as well

Many will be happy

dgagar:
Stupid People. Collect #5000 and repay #8000 in 7days.
Oleeeeeeee

Naa loan shark Dem be

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

20 billion instead. Those people are heartless

adelaja70:

Reason now... 50 contacts as guarantors, is it possible? The loan companies do that on their own without your knowledge..

Its obvious he doesn't have sense. So ignorant but thinks he knows......I just dey laugh him foolishness since.

OJEEMAH:
Its obvious he doesn't have sense. So ignorant but thinks he knows......I just dey laugh him foolishness since.

MY brother... I weak for the guy o

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.

U are one their e
Agents. Did de tell u de are going to propagate derogatory messages to ur contact?

dgagar:
Stupid People. Collect #5000 and repay #8000 in 7days.
Oleeeeeeee

Lol. If en enter 7.5 days n ur number no go.dey will call ur papa n mama , say dere pikin de owe dem. If him no pay Dem go Lock am"

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.

This guy you are a criminal also, a while ago you said you are unemployed, now you work in a communications firm? You are also a CRIMINAL NIGERIAN, IDIOT

Oyerinde16:
on the contrary, I'm unemployed/self-employed, I just feel it isn't right to owe people, and still wonder why the person is taking drastic means to recover his money... My guy if them don owe you before eh... The person wea de owe you de live life you de starve... My guy...

See the mindset of a typical criminal

Very very useless company I wish they were banned totally with a fine of 100000000000 idiots. They will debit ur money and claim they didn't see it then later send useless messages to ur contact. If you see SOKO run for ur life.

Thank God that these fraudsters are been dealt with.
Very greedy and dangerous people to do business with

It was only a matter of time before them offend person wey sabi person
Naso dem send me message say one of my guy na fraudster
Person wey i never see since 07
Smh

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

Their was no place in the terms and condition were the said they will defame your character,that you gave them access to ur contact does it mean that your contacts gave them access to contact them,and then call you criminal in the run,they are very stupid

Beancounter94:


They are not clean, which is why if you cannot afford to take a loan, then don't take one. Especially since you know what they do to people who do not pay back as when due.

Lord knows I don't like saying this message. But the thing is, if these companies go out of business because Nigerians don't pay them on time, where are many of us, you inclusive, going to get a payday loan? At that rate.?

Considering the banks don't give out that type of loan easily.

Go to US and europe and see how many people default on mortgage and loans
Yet not one comany sends texts to the defaulter's contact calling him/her a fraudster
That rubbish may work in china and asia where they cherish their honour and are even willing to commit suicide because of it but it can't work in civilized societies
Kenya did this earlier now all the loan companies there got sense by force
Anyway wahala for who dey take loan

Oyerinde16:


Defaulting is no longer a crime, meaning I can borrow someone's life savings, sign contracts/agreements spend lavishly on beer and women travel round the world like hush, then comeback to a retiree and tell him I can't pay hope he insured... I swear u are mad.

Banks will take over your biz, properties and anything they can lay their hands on after disgracing your future.

Banks will not give you loan if you can't meet up, this soko loan took the loan from banks with all they had so you can get it without the hassle, only for you to buy your babe we a another guy de gbansh cream, then turn to soko say hope una insure the loan, my guy u are raving mad.

Shabi if I call u a criminal now,you will report me for ban,this is just the begining,you scatter someone reputation and expect them to pay you.all of una dey mad,come collect naa

Criminals since 1400

You won't see that Mr FollowFollow of guy here

LZAA:

Go to US and europe and see how many people default on mortgage and loans
Yet not one comany sends texts to the defaulter's contact calling him/her a fraudster
That rubbish may work in china and asia where they cherish their honour and are even willing to commit suicide because of it but it can't work in civilized societies
Kenya did this earlier now all the loan companies there got sense by force
Anyway wahala for who dey take loan

That's because in US and Europe, las las, dem go find you, somehow.

Also a mortgage lender is, I think, different from a payday loan company. If you default on the mortgage, I believe they take your house.

Anyways, loan na loan. Meant to be paid. If we don't like it when people don't pay back loans they take from us, to the point of making noise about it....why should we tolerate it for companies who essentially would fail if a critical mass don't pay back, as indeed has happened with many loan companies worldwide...and putting more people into the jobless market.

ozoneboy:


Their was no place in the terms and condition were the said they will defame your character,that you gave them access to ur contact does it mean that your contacts gave them access to contact them,and then call you criminal in the run,they are very stupid

Well, when I first read the T and C of the carbon app loan...I came across a 'we will take steps to call your contacts if you do not pay' ...

That has been enough to scare me into paying on time always....forget being defamed...it is embarassing enough to have your contacts being informed that you don't pay loans on time

It is the same thing on most loan apps. At least Branch and paylater would wait for a few days before sending you a message.

One more thing...and mind I am not accusing you of anything, or saying that people don't have good reasons for not paying back on time...but there are a lot of Nigerians who treat the loan apps as awoof money. And don't pay back...and cause these loan companies to eventually go into financial trobule...

My worry is when they go out of business....many people won't have any means of taking such loans. To say nothing of job losses...and Lord knows we don't want that.

kingandamy4life:
Guys this people are crazy. At least you should be able to give some one 3 days or even one week to pay up. The very day your loan is due you start getting embarrassing messages. I just wonder what usless app is that. They sent a message to all my contacts after I have paid. My friend salary was delayed for just a day and they went haywire even sending to his boss a useless message. I was mad. Those guys re evil. How can you call someone you re talking to everyday a running thief. I just wonder who is heading those idiots. They should withdraw their license. Rubbish

They don't have licence that's why they have crazy interest rate ( like 60%) to be paid within 14 days.
Since no collateral is involved,they have to employ any means necessary just to retrieve their money.
I don't support the way they go about sending defamatory and incriminating messages to debtor's contacts. That's taking things too far,in as much as I know an average Nigerian can be demonically stubborn in paying off debts.
When you have sent those messages to the debtor's contact,do you think that will make him/her pay up ? Most scenario they might not.
If you question them on how they got your contact ,and tell them you're not the debtor's guarantor ,that you know nothing about the debt if they happen to call you as one of the numbers in the debtors contacts,they go insult and threaten you join . They will be like; " you that's a friend to a thieve ,advice him o or we will take legal actions and you're going to bear the consequences " .

Beancounter94:


That's because in US and Europe, las las, dem go find you, somehow.

Also a mortgage lender is, I think, different from a payday loan company. If you default on the mortgage, I believe they take your house.

Anyways, loan na loan. Meant to be paid. If we don't like it when people don't pay back loans they take from us, to the point of making noise about it....why should we tolerate it for companies who essentially would fail if a critical mass don't pay back, as indeed has happened with many loan companies worldwide...and putting more people into the jobless market.

Once again incase you missed the point
ETHICS is key in business
The company in question have shown a distinct lack of ethics
And them go find u las las
Please don't tell me you are one of those who believe the police don't work
Police that found anini,evans,derico,shina rambo,maina,ade bendel
Smh

I love this news.
This demonic company rebranded their name to 9jacash. Sokoloan and 9jacash are the same people.
This fine would have be 100m so they can reformat their thinking faculty

Oyerinde16:
All the people shouting credit bureau loan recovery process etc when you where granting them access to contact your contacts, did you tell them to also contact credit bureau if you default

I saw a guy owing paylater #100,000 over 1yr. Same guy owing another app #20,000 over 3 months +.

You forget that on the other end of the loan, a young guy hustling to feed himself and family is your account officer, his job is under threat because of whatever reason you have for not paying, sometimes they deducts their salary for your negligence, sometimes they get fired, later you say that company hire and fire, its cos of defaulters.

What kind of trash are you saying, because they are feeding you from the company by salary doesnt warrant you calling a defaulter a criminal and defaming him to all his contacts. You all have overdue charges on al your loans, your job is to continue contacting or finding means of getting your money back in a legal and professional way not insulting everyone who collected loan from you. We all need to reason very well when defending all these companies and their insanity.

Abfinest007:
I still believe you're lying bcus I have used this loan app B4 they won give you money until ur ATM card of which they will deduct money from the account

Oga, many give loans without atm cards.