Ifesinachi22:
Everyone will create a topic on top this guy head.

Who no dey borrow?

almost everyone de borrow in one way or the other but u become evil when u intentionally borrow without any intention of paying back the loan from on set, about 80% of Nigerians fall in this category

Wait o, seriously this guy is admitting being part and parcel of these loan sharks o. If u know d momentum Nigerians r gathering against u guys eh, " end SARS" would b a child's play. With d depression, suicide, job loss, ostracism and other negative effects ur defamatory messages have caused Nigerians for peanuts u offer as loans with subsequent exorbitant interest rates. Enjoy it while it lasts.

Jwonder:


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.

A loan company is supposed to do due diligence before giving out loans. Giving out loans to all and sundry at extremely high interest rates is likely to attract only the desperate and potential defaulters


It's not as if people don't want to pay their loans. They don't have the money.

I encourage people to default on their loans as this will force these stupid Chinese to find a more savoury line of work than giving loans at 50% per week interest.

If you charge 50% per week as interest and 8% daily as fee for not paying on time (all on compound interest), then don't complain when people default.

I know some people would say don't the debtors see this before taking the loan, that's the exact point: these loans attract only the desperate. Someone who has expenses but can't pay would rush and take the loan. Seven days time, the circumstances have not changed. They will borrow to pay back and there goes the debt trap till the person is unable to pay.

I happen to know a bunch of hopeless fools who have formed an association of debtors to take loans(looting) obtained with fake contact information to avoid payng back. These same degenerates will be the first to hop on social media to show msgs of desperation sent by loan officers who are frustrated at their cunning to pay back their loans. Let us ask ourselves, why did you take the loans for 7 days when u know

1- you cannot meet up with repayment

2- that the interest is two much.

Them force u collect am, if u agreed to its terms, then you should pay back at the right time or at least show some form of commitment. Instead these guys do the following

1- Avoid calls and texts
2- haul abuses at the recovery officers
3- block their lines and whatsapp
4-wait till they send msgs then use it as a yardstick to avoid paying completely
5- block their ATM cards etc

Loan recovery from a typical Nigerian is done with force, else u wont get back your money, even on a personal level, you dont see friends or family borrow each other money thats why u see them flocking to loan apps.

No one is a saint here, both the loan apps and the customers are guilty. We need to tell ourselves the truth

And it's a big lie to think that Nigerians don't pay back. If Nigerians don't pay back, why are there loan apps every day coming up with serious amounts being spent on adverts? The business model of the loan apps ensure they are able to make serious profits even if half of their customers (slaves is a better word) pay back.

I met someone who basically paid 240k interest on a 60k loan. How you may ask? The first loan was 60k to pay back 90k in a week. After the first week, the person had no money to pay back because the 60k was used for a medical emergency. He had to borrow from someone (90k) to pay back the loan. Since he borrowed, he was forced to take another 60k from the loan app. And this sequence went on for weeks until he realised the loan app had gotten over 240k interest within two months while he was also heavily in debt with people, all from a 60k loan.

The combination of short tenor and high interest rates coupled with zero KYC is a fuel to trap the most vulnerable individuals into a debt trap.

Jwonder:


I suggest you open your own loan company and let people pay at their convenient time.

You are an idiot.

Banks that take just 25% per year interest on billions of loans do not defame customers, it is you servants of Chinese loan apps charging 50-60% weekly interest that are doing such. I encourage everyone who has taken loans to default whenever they are unable to pay. Eventually, you people will pack up and find a more humane line of business.

These loan apps can't even include their real addresses or the actual interest rates on their Google play because they know they violate Google guidelines on fair lending. They are also not registered or licensed.

You don't do anybody a favour by lending them money with interest and it is solely the fault of the loan apps when they lend money without credit checks.

Lest I forget, you are an idiot with silly views.

Loan company are higher killer because you knew Nigerian are in of money. You now took the opportunity to reap them off. Why on earth will you loan someone #10,000 for a week and your expect to paid you back #15000. Even bank don't do this, especially foreign company that come into Nigeria to take advantage of the situation of average Nigerian. There should be a way to assist defaulter instead of the company start to multiply the loan by 100% a day. Especially Chinese loan company in Nigeria are evil

Jwonder:
There's been a rise of Nigerians defaulting on Loans and coming online to form victims.
Why would you take a loan you have no plans of paying back?
This Loan companies don't collect collateral, so how else do expect them to recover their money if they don't harras you?

Just go through this thread and see how wicked humans are.
https://www.nairaland.com/6835279/loan-app-agent-keeps-blackmailing
They all forget this loan company is somebody's investment with staff to pay.
If everyone keeps defaulting on the loan won't they run out of business?

WHY ARE WE NEVER STRAIGHTFORWARD AS NIGERIANS?
I urge the CBN/ FG to start blocking the BVN and bank accounts attached to the BVN of loan defaulters, this will reduce the trend of evil people taking loans and refusing to pay.

The CBN can't block the BVN because the loan apps are illegal ab initio. They are unregistered and unlicensed, even some of their stupid staff are not aware they are working for an unlicensed loan shark. There's a reason the licensed loan providers don't defame customers. One, they don't give all comers loans, and two, they are licensed and can do global debits with the customer BVN.

optimisticage:
Wait o, seriously this guy is admitting being part and parcel of these loan sharks o. If u know d momentum Nigerians r gathering against u guys eh, " end SARS" would b a child's play. With d depression, suicide, job loss, ostracism and other negative effects ur defamatory messages have caused Nigerians for peanuts u offer as loans with subsequent exorbitant interest rates. Enjoy it while it lasts.

Debtor, stop borrowing.

The moment you start borrowing things or Money from friends and family you will instantly start loosing the small respect they have for you and that is why they extremely rich people don't like associating with their parasitic family members or friends, my uncle taught me this while growing up and it has helped me in putting my intergrity intact before my freinds and colleagues.

Even though i dont support defaulters ,the loan company also should close down ,because the company too are not helping matters , you borrowed someone 10k and expecting 15k in 7days ? fear God ? and if the person defaulted for 2days ,the loan kept increasing without hearing from the debtor what happened ,then next thing is to message their ancestor tagging them thieves ,fraudster.... who does that .... because of this some will never pay back , some will rush to pay , some will die of depression and shame .......close your company abeg your mission is never to rescue but a suicidal

.

Blame the government

After police, the next set of people I hate are loan defaulters

blackslayer:


Even if he didn't receive salary, its none of your concern. He borrowed money from you and he refused to repay! He stole from you essentially....You need to reevaluate your so called friendship. That is not a friend but an opportunistic asshole!

I quite agree. I'm keeping him at arms length, going forward.

Jwonder:
There's been a rise of Nigerians defaulting on Loans and coming online to form victims.
Why would you take a loan you have no plans of paying back?
This Loan companies don't collect collateral, so how else do expect them to recover their money if they don't harras you?

Just go through this thread and see how wicked humans are.
https://www.nairaland.com/6835279/loan-app-agent-keeps-blackmailing
They all forget this loan company is somebody's investment with staff to pay.
If everyone keeps defaulting on the loan won't they run out of business?

WHY ARE WE NEVER STRAIGHTFORWARD AS NIGERIANS?
I urge the CBN/ FG to start blocking the BVN and bank accounts attached to the BVN of loan defaulters, this will reduce the trend of evil people taking loans and refusing to pay.

.


Most foolish post on nairaland ever

einsteine:



The CBN can't block the BVN because the loan apps are illegal ab initio. They are unregistered and unlicensed, even some of their stupid staff are not aware they are working for an unlicensed loan shark. There's a reason the licensed loan providers don't defame customers. One, they don't give all comers loans, and two, they are licensed and can do global debits with the customer BVN.

.

Don't mind d MUMU, majority of the apps belong to Yahoo Yahoo boys who deliberately violates the CBN standard in loan duration and interest charges
They are criminals that is why what they sow is what they are reaping

[me too I wonder... Nigerians are not good people

einsteine:


You are an idiot.

Banks that take just 25% per year interest on billions of loans do not defame customers, it is you servants of Chinese loan apps charging 50-60% weekly interest that are doing such. I encourage everyone who has taken loans to default whenever they are unable to pay. Eventually, you people will pack up and find a more humane line of business.

These loan apps can't even include their real addresses or the actual interest rates on their Google play because they know they violate Google guidelines on fair lending. They are also not registered or licensed.

You don't do anybody a favour by lending them money with interest and it is solely the fault of the loan apps when they lend money without credit checks.

Lest I forget, you are an idiot with silly views.

You are an idiat!

Since the bank charges just 25% per year why then don't you go to borrow from the bank the next time you need short term funds?!

The risk exposure of banks is much less than that of loan companies because no bank will give you a loan without collateral backing. Besides that the bank does has an added advantage because it knows that even if the borrower refuses to pay up all they need to do is wait patiently for any inflow that hits the account of the debtor for them to deduct their money in full.

The reason why loan companies do not include their addresses is that it will increase overhead costs which invariable will mean they need to also charge higher interest

I repeat once again, you are an idiat!

ojoduoludare:
Even though i dont support defaulters ,the loan company also should close down ,because the company too are not helping matters , you borrowed someone 10k and expecting 15k in 7days ? fear God ? and if the person defaulted for 2days ,the loan kept increasing without hearing from the debtor what happened ,then next thing is to message their ancestor tagging them thieves ,fraudster.... who does that .... because of this some will never pay back , some will rush to pay , some will die of depression and shame .......close your company abeg your mission is never to rescue but a suicidal

Most of the time the loan agent is also under pressure to recover the loans if not his salary is also going to be under threat therefore you don't expect him to have the patience to entertain stories that he has probably heard before.

Trust me most loan defaulters in Nigeria are skilled in the art of telling fantastic lies and if you start listening to them then just know that they will never repay their loans even when they have the money right there, I'm speaking from experience.

If you continue listening to excuses from loan defaulters, in the end you will end up looking like a fool.

assent:


Mr loan company, why do you love sending defamatory messages that can put you in trouble to the contacts of your debtors?

This one shock me pass!

Kobicove:


No we must answer it today.

The reason is that an average Nigerian is inherently dishonest!

Hell yeah......they hardly stick to their words.

Jwonder:
There's been a rise of Nigerians defaulting on Loans and coming online to form victims.
Why would you take a loan you have no plans of paying back?
This Loan companies don't collect collateral, so how else do expect them to recover their money if they don't harras you?

Just go through this thread and see how wicked humans are.
https://www.nairaland.com/6835279/loan-app-agent-keeps-blackmailing
They all forget this loan company is somebody's investment with staff to pay.
If everyone keeps defaulting on the loan won't they run out of business?

WHY ARE WE NEVER STRAIGHTFORWARD AS NIGERIANS?
I urge the CBN/ FG to start blocking the BVN and bank accounts attached to the BVN of loan defaulters, this will reduce the trend of evil people taking loans and refusing to pay.

Very simple answer. The average Nigerian man or woman lacks integrity due to sub reasons like greed, selfishness, discontent and deceitful behaviors with the only thought of wants and needs. However, a few Nigerians just can't meet up with the harsh economic environment this incompetent government keep pushing.

nsiba:
.

Don't mind d MUMU, majority of the apps belong to Yahoo Yahoo boys who deliberately violates the CBN standard in loan duration and interest charges
They are criminals that is why what they sow is what they are reaping

Sorry what is the CBN standard on:
1. loan duration
2. Interest charges

Not that you’re in banking you go just opening mouth waaaaaaaaaa!

Do you know the cost on capital that these finance companies bear? Or you think it’s their money? Lol

Nigerians wicked sha

27Pushing30:

Sorry what is the CBN standard on:
1. loan duration
2. Interest charges

Not that you’re in banking you go just opening mouth waaaaaaaaaa!

Do you know the cost on capital that these finance companies bear? Or you think it’s their money? Lol

Nigerians wicked sha

Sharap ya dirty mouth, you don't know any Jack u de open ya unlearned mouth de yarn!
So as old as you are u don't know that there is a standard for loan duration and interest charges?
How many customers have you heard SOKO loans reported to CBN?
How many of them are members of Credit Bureau?
Foolish goats like you na him all those financial parasites they suck like mosquitoes and instead of you to receive sense and knowledge from me you de talk like a hopeless rat.

nsiba:


Sharap ya dirty mouth, you don't know any Jack u de open ya unlearned mouth de yarn!
So as old as you are u don't know that there is a standard for loan duration and interest charges?
How many customers have you heard SOKO loans reported to CBN?
How many of them are members of Credit Bureau?
Foolish goats like you na him all those financial parasites they suck like mosquitoes and instead of you to receive sense and knowledge from me you de talk like a hopeless rat.

I asked a question, answer.

What is the CBN guideline for:
1. Loan duration and
2. Interest rate

For finance companies .

Kids throw insults. I will expose how ignorant you are

27Pushing30:


I asked a question, answer.

What is the CBN guideline for:
1. Loan duration and
2. Interest rate

For finance companies .

Kids throw insults. I will expose how ignorant you are

.

Continue asking stupid questions and I will expose that you are one of one those yahoo yahoo boys operating with no guidelines

nsiba:
.

Continue asking stupid questions and I will expose that you are one of one those yahoo yahoo boys operating with no guidelines

Lol I’m not and can never be a “yahoo boy” - there I’ve answered your question

Now tell me what the CBN guideline is on :
1. loan duration
2. Interest rate

You people will just come to Nairaland and open mouth waaaaaaaa! And spew ignorance lol.

God will judge all These politicians who refused to allow the common man access quality education !

It’s not actually your fault that you’ don’t know anything

27Pushing30:


Lol I’m not and can never be a “yahoo boy” - there I’ve answered your question

Now tell me what the CBN guideline is on :
1. loan duration
2. Interest rate

You people will just come to Nairaland and open mouth waaaaaaaa! And spew ignorance lol.

God will judge all These politicians who refused to allow the common man access quality education !

It’s not actually your fault that you’ don’t know anything

.

Did I ask you if you are a yahoo yahoo? I didn't I said and put it to you that you are a Yahoo yahoo boy and not a question!

Why should I tell you? Any legitimate enterprise before venturing out to the public must meet all guidelines in their respective ventures
Do you think the Banks operates without specific operational guidelines from the CBN?
Only a criminal minded enterprise and person will be asking me to show him the guidelines
If you don't know what it takes to operates a legitimate financial enterprise better you desist from your money doubling mentality.
You don't know CBN financial guidelines on loan durations and the interest rates, you don't know credit bureau what is it you know except from operating illegitimate criminal minded enterprise
You must be a crook, a money doubler

nsiba:
.

Why should I tell you? Any legitimate enterprise before venturing out to the public must meet all guidelines in their respective ventures
Do you think the Banks operates without specific operational guidelines from the CBN?
Only a criminal minded enterprise and person will be asking me to show him the guidelines
If you don't know what it takes to operates a legitimate financial enterprise better you desist from your money doubling mentality.
You don't know CBN financial guidelines on loan durations and the interest rates, you don't know credit bureau what is it you know except from operating illegitimate criminal minded enterprise
You must be a crook, a money doubler

I see no reason for your long epistle, if indeed you know what you’re talking about you won’t
Be dribbling yourself. Empty drums make too much noise.

...so once again Mr “I know CBN policy” please tell me the CBN guideline on:
1. Loan duration
2. Interest rate

Please I don’t want story , just answers.

If you cannot answer don’t bother replying me.

27Pushing30:

I see no reason for your long epistle, if indeed you know what you’re talking about you won’t
Be dribbling yourself. Empty drums make too much noise.

...so once again Mr “I know CBN policy” please tell me the CBN guideline on:
1. Loan duration
2. Interest rate

Please I don’t want story , just answers.

If you cannot answer don’t bother replying me.

.

Criminals like you that want to engage in money doubling without the necessary documentation will suffer the consequences

nsiba:
.

Criminals like you that want to engage in money doubling without the necessary documentation will suffer the consequences

Lol shallow thinking and shocking display of ignorance.

I don’t engage in money lending, what piqued my interest was you making a statement you know absolutely NOTHING about. Shocking!

I also don’t engage empty drums.

Please educate yourself so you can positively impact society.

Bye