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Nairaland Forum / Nairaland / General / Crime / Why Do Nigerians Hate Paying Their Debt? (19544 Views)
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Re: Why Do Nigerians Hate Paying Their Debt? by airsaylongcome: 8:50am On Nov 05, 2021 |
Lifestone: So my response wasn't about that particular case, but a response to general cases of loan defaulting. Specifically for his case he is in the wrong to claim that he won't pay the interest. He is contractually indebted to do so. However how about the loan company that lied claiming the defaulter put his contact as guarantors? And that they were going to hold the contact responsible for the loan? How lowball is that? 3 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by FX2BROWN: 8:51am On Nov 05, 2021 |
I'd suggest that for every loan given, a collateral should be attached e.g SIGNED CHEQUES. While for the micro~finance loans, let a guarantor with the follow items : PASSPORT PHOTO, UTILITY BILL & FILLED FORM BE GIVEN, with these measures, the fund is A BET SECURED. More Nigerians have the spirits of GREED & WICKEDNESS and the mentality of not wanting to pay. 8 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by bigcee(m): 8:51am On Nov 05, 2021 |
Coldie:Wtf is that? What kind of friend do you have, ehn? Pls be very careful with him. Very hurrible person 7 Likes
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Re: Why Do Nigerians Hate Paying Their Debt? by Yarimoooh: 8:51am On Nov 05, 2021 |
What's this one saying? Nations have been owing nations/organizations for decades and the so called rich men are owing banks huge sums. Why are you calling for the head of poor people wey collect loan wey no reach anything. Abeg park well 3 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Joseph08(m): 8:52am On Nov 05, 2021 |
That's what Buhari taught Nigerians 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by Fesline(m): 8:53am On Nov 05, 2021 |
Some of this my country's men sha... It's only in Nigeria you will see a Nigerian abusing and telling how selfish and callous Nigerians are.... Can you imagine. When you said "Nigerians are corrupt from the head to the bottom" pls from which country did you come from, UK ba? Are you not part of those you're describing. Pls be specific, don't use the word Nigerians to generalize both the honest and dishonest people as one. Thanks. 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by Jwonder(m): 8:53am On Nov 05, 2021 |
koladebrainiac: Oga forget all this your sob stories, there's no emotions when it comes to business. Go to the bank and collect a loan and later go tell then you can't pay because something happened to you and watch if they won't seize your collateral. 5 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by lomprico(m): 8:53am On Nov 05, 2021 |
Jwonder: contri hard! dangote sef dey owe loan 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by CryptoClub2018: 8:54am On Nov 05, 2021 |
Jwonder: You loan companies are foolish and thieves who reap where they do not sow. If people have money, will they borrow from your apps in the first place? To make matters worst, you will now charge sometimes over 40% interest on a 7 day loan and overdue charge as high as 2.5% of the principal + interest daily haba, if I have a gun, I will fill all you loan company. mumu people, you people are the real fraudster and lazy idiots. Thieves that's what you people are. There is no way you people will do well in life with the money you are collecting from people in the name of interest. If you people are fair and just, what makes you not design your business model to accommodate one month loan repayment at max 20% interest. With this you will hardly get default and you will have less people to run after. You are causing more problem for people in the name of helping them solve financial problem and when they are yet to pay, you start to blackmail them calling them all sorts of name. All loan shark companies both staff and management can never have a good future. Armed robbers 7 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Coldie(m): 8:54am On Nov 05, 2021 |
MartinsD12:How do u expect the loan companies to keep up to their obligations when 80% of Nigerians who borrowed them money end up breaking their sim 4 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by bamdly(m): 8:55am On Nov 05, 2021 |
Jwonder:OK if yall can't be reasonable what is now ur gain if ur debtor commit suicide |
Re: Why Do Nigerians Hate Paying Their Debt? by jaxxy(m): 8:56am On Nov 05, 2021 |
Jwonder: U give out Shylock loans like sharks and want people to pay u ridiculous interests in record time? Are u not a criminal?! U are now blaming poor people who have no means of paying back? Why did u give out soft loans without collateral and how dare u call innocent debtors fraudsters? Did they steal ur money or borrow ur money?? 2 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Bakerdav: 8:56am On Nov 05, 2021 |
1Alex:you get it my bro,loans r easy to get but diffcult to pay back, not that pple don't want to pay back but there will still b one bills or other to.sort out,they should allow it in convenient Installment of paying back 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by bamdly(m): 8:58am On Nov 05, 2021 |
CryptoClub2018:Naira land mods are mad for letting this even hit fp..... It seems they have been bribed by Jwonder 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by Jwonder(m): 8:58am On Nov 05, 2021 |
CryptoClub2018: You are obviously the thief here. You downloaded their app, accepted the T&C but time to pay back you now remember they are wicked. Did anyone point a gun to your head forcing you to collect the loan. STOP BORROWING IF YOU HAVE NO PLANS TO PAYBACK SIMPLE. Go and borrow from your family and friends. 2 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Jefferyhi86(m): 8:58am On Nov 05, 2021 |
Seriously during my undergraduate days I wow if am to own anyone moni I will pay back in due time after a lady publicly embarrassed me, fine its good wen u borrow from any of this loan app u pay back in due time and this is what I have been doing to avoid issues,their money have being saving me few times, have that self respect and pay back what about when you leave the shores of this country to a system that really works, it's will be really difficult for u. If u see how LAPO for benin de embarrass defaulters ehh, shame go catch you. 4 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Ashirioluwa: 9:00am On Nov 05, 2021 |
Bro that’s the culture in this part of the world 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by mfm04622: 9:01am On Nov 05, 2021 |
Ifesinachi22: The question is not "Who no dey borrow"? Even Dangote and the US govt borrow. The question is why don't Nigerian like paying back their loan? The answer to the question is poor consequences for loan defaults. In saner climes, you default, they declare you insolvent. Na that time your wahala start! 3 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Jwonder(m): 9:01am On Nov 05, 2021 |
jaxxy: Nigerians are really criminal minded. Did anyone force to take the loan. Why didn't you go borrow from your family if money was so easy to make. The loan company is somebody's investment, pay back your debt and don't take a loan of you feel the interest rate is too much. 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by thewritingtodo(m): 9:02am On Nov 05, 2021 |
Jwonder:You're taking this very personal. Do you own a loan company? Anyway you're right about unwillingness to pay loans, and that's sad and unfortunate, but even loan companies are themselves not innocent. Their evil interest rates and blackmailing methods, combined with enticing ease of access to these loans without proper background checks only tell us they are unprofessional and they're basically loan sharks waiting to take advantage of people in dire economic stress. What do you expect will follow such a recipe? Disaster of course! In my opinion, there's a place for loan sharks and also for professional loan companies. If you want to do your loan business in Nigeria, you've got to do it legally, so that you can legally recoup funds from defaulters whom you have dutifully checked, by the way. You cannot "easily" hand out loans to people who mostly want to survive and expect them to payback outrageous sums in a few days/weeks without experiencing default payments on a regular basis. You will end up breaking laws to get your money back. In the end, the Nigerian system is not really ready for this conversation. 3 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by MartinsD12(m): 9:04am On Nov 05, 2021 |
Coldie:OK they are now punishing me for other people's sin that's wrong, I started an investment plan of over 50k with them because of the bonus I got from them N50 x 10 times in a month is good money, plus the interest I get on investment savings at least N1000 profit is not much for someone who has been honest with them now they removed N300 from me for reducing The funding of wallet bonus from 10 times in a month to 4 times in a month, this is greedy branch is wrong and will lose customers because of these, even the referral before is N500 they reduce it to 300, now it's N400, they are not fulfilling their policies and keep changing to their own greed 2 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by LollySeaSide: 9:06am On Nov 05, 2021 |
Everyone is a culprit. The so called rich men are even worse. AMCON to the rescue. 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by jaxxy(m): 9:08am On Nov 05, 2021 |
Jwonder: Why did u give the loans like Ure setting people up. Its like China giving Nigeria loans they know she can’t pay. Loans companies should do risk assessment not just giving loans to Tom dick and Harry because of quick profits. That’s what banks do. 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by CryptoClub2018: 9:10am On Nov 05, 2021 |
Jwonder: You people are foolish as I have said and most especially you. Which foolish T & C. The one you all copy from one foolish Chinese company and all made a standard for your selfish selfs. Lazy thieves, if you know how to run a business, run a proper business and see if you can grow and not the money you inherited from your late father or mother using for a lazy business reaping where you did not sow. Ole. Lazy fools. People already know you and it's viral so people will continue to default and you can do nothing. Some don't care if you blackmail them or not since you loan companies have decided to be mad, let everyone be mad. Lazy people, go and run a proper business and see what it looks like. Miserable people. You are talking about t&c, can you collect that kind of loan with such interest rate within a short time if you don't have an issue? 7 days? You people are mad 4 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by techWriter3: 9:13am On Nov 05, 2021 |
Same reason politicians is yet to pay the Chinese loan.. Emm, need help with your assignment, project, thesis, or dissertation? |
Re: Why Do Nigerians Hate Paying Their Debt? by koladebrainiac(m): 9:14am On Nov 05, 2021 |
Jwonder: dude I have worked with a bank before Borrowed someone money and he could not pay, he is always present at the bank to seek advise on how to pay back his loan finaly we arrested him took him to police station this guy sold his tv and fridge later the amount remain 180k to pay back after 2years overdue bank had to cancelled his debt but he was balcklisted thats for non collateralized loan. If the loan was collateralized, then there is no big deal than to move in and take over the collateral actually to borrow money from any fintech company you must be able to prove to them why you dont actually need the money in the first place . 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by timefarm(m): 9:18am On Nov 05, 2021 |
Jwonder:You guys should stop thus stupidity. Face the person you lend money. Dont be sending us useless messages and threat as if we are party to the agreement. 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by Dreytonisback(m): 9:19am On Nov 05, 2021 |
Listen OP , I'm a deep thinker so I'll educate you about this Taking a loan without paying is not right but let's face reality and be considerate This is Nigeria, a country of stubborn headed people and a little more good people People seek for loans bc they're empty , or for business pruposes but along the way anything can happen Let's be honest with ourselves no one takes a loan with the zeal of not wanting to pay back else they won't include their real informations This country makes it hard for almost every Nigerian to achieve and succeed on their plans You go plan your own finish , naija go help u plan the rest If you're giving out loan in a country like Nigeria, ensure there's a collateral or you don't give at all bc you're dealing with people who are suffering and smiling If a Nigerian man or woman doesn't drop a collateral then you're on a long thing bc this country will surely ruin his chances of paying back and also , y'all should be considerate with the interest too and be human for once For example: you ask me to borrow you 100k and I ask you to drop a collateral worth 200k , and you need the money badly you'll have no choice than to drop it. Make an agreement on when he can claim that collateral else you'll balance him/or any agreed payment to cover up his lateness to pay bc that collateral will be gone, fair business You won't be at loss , he won't feel the pain much either You mustn't send sms and defame someone and tag any human being a thief who ran away with company money when you only borrowed the person 10k to pay 15k If na you , you go pay happily? Get collateral and wns of story , naija is bad to live when you're broke Nobody applies for loan with a happy mind so be fair or don't give at all , collect collateral and stop yelling like Shekau's mom Lights up my kpoli in peace 2 Likes |
Re: Why Do Nigerians Hate Paying Their Debt? by Nobody: 9:20am On Nov 05, 2021 |
This your post come informed of hatred, and it's was in the front page without waisting time 1 Like |
Re: Why Do Nigerians Hate Paying Their Debt? by Jwonder(m): 9:20am On Nov 05, 2021 |
jaxxy: Nigerians and victim mentality. If you aren't comfortable with the loan T&C why then did you accept it? 2 Likes |
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