xpool:


Huge money? Not at all.
It could be as low as N1500.

LOL

Most give 14days + with huge interest, why wont someone default

yongg:



A debt is an instrument. Countries have national and internal debt profiles. Even your country is owning tonnes, it could even be argued that everyone is/has been/will be a debtor, at someplace or some instance in life. "Do you service your debt?" is one among questions... Are you going to strike your country off your list too, lols... Only to end up with another country with debts too... Of course, it's what they do with the debts and how it is serviced that matters.

Even Dangote that you may want to be friends with uses it. The rich and wealthy also borrow, how many will you strike off your list because of their private businesses... Do you even have the strength, money and resources to privately investigate someone's business project that may or may not affect dealings with you?

It's alright. I don't want to be in the contact list of those that lend money from online apps.

yongg:


I like what you said in the last paragraph. It's always the way to go when dealing with loans of various kind

Also, in Nigeria where there's low regulation of these lenders who muddy people's vulnerabilities with high interest rate, the best time to borrow or expose one's self to lending is when one absolutely have no need for the loan and you can repay it... maybe even several times over. The reason is so one can get a better interest rate (if they have, as I have noticed some lenders in Nigeria do not run a dynamic credit rating system, even if one borrows for 10years they will not reduce their 20-37% PER MONTH interest rate).

This way you know where to get the best rates, and lenders that are professionals and not loan sharks to deal with when the circumstances that will actually make one require a loan for real happens.

Why you have a very strong point. But saying borrowing loan when you don’t need them or when you can repay it is not realistic.

Instead one should always make research about loan even when things are good.
But a lot of people are ill informed about how and where to get loans when time need. They only rush through the agreement under pressure and make poor decisions.

Best time to learn about loan is during time of comfort so when that time comes, one make good decisions. Loans help people use available resources for available opportunities

Qatar2022:
.
Yes, now you understand why the guy was complaining

for real man thanks. hope make it to the world cup next year lol ur moniker

smasher1:


It's alright. I don't want to be in the contact list of those that lend money from online apps.

Lols, �

Going by this, you have curved plenty people o, most Americans too... C'mon, It's not that bad lols...

stanliwise:

Why you have a very strong point. But saying borrowing loan when you don’t need them or when you can repay it is not realistic.

Instead one should always make research about loan even when things are good.
But a lot of people are ill informed about how and where to get loans when time need. They only rush through the agreement under pressure and make poor decisions.

Best time to learn about loan is during time of comfort so when that time comes, one make good decisions. Loans help people use available resources for available opportunities

You'd be surprised how realistic it gets. You get to access better interest rate over time and a meaningful amount when you use that strategy... Else by the time you need a loan for the first time you actually need it what will be on offer would most likely be a NGN 10,000 max. With interest rate as high as 30%... That's not all, one may also get constrained by max duration of 30 days some even 28 or 15 days max.

With that strategy you get better rates because of your record with the lender's credit rating system, or the general credit rating system... Which you still might not know untill you test with the lender at a time you don't actually need a loan (back here again, lols). That way you will know whether the lender even uses a credit rating system of any kind... It will help one filter the better lenders....

Other fringe benefits exist, like getting to know the ease of payment. Now this one doesn't look important untill you realize that some lenders whether intentionally or not make repayments difficult so they can amass more money by charging penalties per day you miss a payment, very insidiously dubious if you ask me. Especially reviews coming from loan apps with Chinese backers(It's allegedly,don't take my word for it, I could be wrong on this one).

Case in point:

kayusely70:
We also have so many of them who are dubious. When you pay your loan they would claim not to see it and be penalising you for late payment. One should just be careful of those to patronize.

EJONI1524:

I experienced similar thing also.... I paid their loan... Still they said I'm owing them.... They even called my contact.

yongg:


You'd be surprised how realistic it gets. You get to access better interest rate over time and a meaningful amount when you use that strategy... Else by the time you need a loan for the first time you actually need it what will be on offer would most likely be a NGN 10,000 max. With interest rate as high as 30%... That's not all, one may also get constrained by max duration of 30 days some even 28 or 15 days max.

With that strategy you get better rates because of your record with the lender's credit rating system, or the general credit rating system... Which you still might not know untill you test with the lender at a time you don't actually need a loan (back here again, lols). That way you will know whether the lender even uses a credit rating system of any kind... It will help one filter the better lenders....

Other fringe benefits exist, like getting to know the ease of payment. Now this one doesn't look important untill you realize that some lenders whether intentionally or not make repayments difficult so they can amass more money by charging penalties per day you miss a payment, very insidiously dubious if you ask me. Especially reviews coming from loan apps with Chinese backers(It's allegedly,don't take my word for it, I could be wrong on this one).

This things you’re stating can easily be trashed out with personal research and consultation from experience people but a simple as it sound Infact about 90% of people who comes for loan has little to no knowledge about loan and it’s dangers except for its benefit.

My elder sister works for REN money and I understand how research about loan is very important because to be sincere a lot of people lack knowledge about loans and which company is best to get loan.

Some don’t understand when loan is good. As much as loan looks more attractive while everything is ok, people don’t go for it during those days and it is very unrealistic and a bit unpractical which is where I don’t see your point and even if that happen it wouldn’t stop people from still taking bad loans

80% of bad loan experience is miscalculation and wrong information. Some don’t even get to qualify for a loan when the moment comes

So avoiding loan or taking loan in good moment is not a way forward for people with bad loan history

sam4noow:




Na ogun go kill your papa


Beta look for another job .. idiot

Hey dumbass,I'm sure you're a bastard!!
Endeavor to pray that you locate your mofo Father... instead of coming on Nairaland to type rubbish with your withered hands!!!

By the way,i have 70k that i can dash you.

stanliwise:
This things you’re stating can easily be trashed out with personal research and consultation from experience people but a simple as it sound Infact about 90% of people who comes for loan has little to no knowledge about loan and it’s dangers except for its benefit.

My elder sister works for REN money and I understand how research about loan is very important because to be sincere a lot of people lack knowledge about loans and which company is best to get loan.

Some don’t understand when loan is good. As much as loan looks more attractive while everything is ok, people don’t go for it during those days and it is very unrealistic and a bit unpractical which is where I don’t see your point and even if that happen it wouldn’t stop people from still taking bad loans

80% of bad loan experience is miscalculation and wrong information. Some don’t even get to qualify for a loan when the moment comes

Yep, research and calculation part is very necessary. A lot of people don't plan for it.

apart from d very few loan apps that are genuine and have ver flexible options u can go with should in case u weren't able to pay back as agreed which still includes some minor charges, the rest are all.bunch of scammers, lack customer relationship ethics and worse still, they lack proper manners.

the worst loan shark i can neva recommend to even my enemies is 9credit. they r the worst.

xpool:


What are you saying?
Trying to encourage madness and illegality.
His privacy was violated and you are telling him to get in touch with a borrower when he was not in the know of the deal.
Is he a staff of the lender that you expect him to get in touch.
Nigerians can lie, we like to cover up truth.
That is why we can't even rule ourselves properly.

By the time these contacts starts going to court to seek redress, then you will know that we have laws.

If you don't know, a case has already been won against a loan app co over this rubbish messages.

Comrade calm down. I'm just giving my two cents on the issue.

einsteine:


It is not criminal.

Debts are a civil matter.

that’s the genesis of the problem

Good morning all,
Just found this thread now and I wan to believe I can get assistance.

My mechanic borrowed money from one of these loan companies and the company has been disturbing that they want to report him to me.

I told them I don't know what transpired between them and the guy,that they should not involve me .

They started disturbing first with calls,I bared all their lines and now they are now sending me messages both on WhatsApp and SMS that both of us are criminals that they will track us and arrest both of us,because he used me as a guarantor.

Please what should I do.?

I am very angry now and I tried to search for the company's address online to take them up legally but no traceable address

Adamkeyj:
Wow can you imagine and that damn bad. heard the loan app also invade your privacy by going through your contact and picking out numbers cuz you have to give the app permission to access your contacts and call record during installation

If you gave the app permission to access your contacts then technically speaking you can't claim that they invaded your privacy

Google has finally taken down LCREDIT from playstore. Nemesis is gradually catching up with these evil and wicked people

Hey man, I'm sorry for your unpleasant experience. Although I heard about similar complaints, I've never seen such a vile vocabulary being used. Absolute pricks! How did you solve the issue? A couple of years ago, I also encountered some very persistent calls and messages from a loan company. Luckily, it's gone bust since. However, a loan can be a very convenient instrument to use! I've recently got a mortgage in Leeds, the UK, being assisted by Mortage Advice Leeds. What a pleasant experience it has been! I didn't have any complaints at all. Just do your research before making such an important decision. Good luck!