It's no news to any Nigerian that Online Loan operators resort to blackmailing their clients when they default in paying up their loans as and when due.

The blackmail usually comes in form of sending series derogatory and defaming messages to all the contacts on the defaulting client's phone. The message could be targeted at a prospective employer, client, inlaw or just any important contact on the client's contact list. The damage this can cause to the client can only be imagined.

While it's wrong to default in paying up the loan, is this approach not too drastic and unprofessional?

Question : After doing their worst and subjecting a client to this level of ridicule, does the client still have to pay back the loaned sum? If yes, how does the loan operators compensate him for the damaged caused to his person?

The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter any bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

compensate weytin?

if dem nor use iron hand for some people, dem nor go pay

They'll keep sending the messages and tracking your bank account until you pay up.

Nigerians are difficult people. Why take a loan when you have no means of paying it back?

Some of these fuc.king bastards have means of paying back, but they would rather receive payment for their pathetic services with another person's account just to pepper the loan company.

The best way to go about this is still imprisonment!
Idiots should be imprisoned if they fail to pay back a non-collateral loan after some time. Then send a message to their contacts that their idiot relative has been remanded in prison with no hope of even watery beans.

Why pay back when a collateral damage have been done? If they insist on getting back their funds tell them to go do damage control. Simple!

Don't pay back anything..they won't text anyone again..e don balance.

Lalasticlala, happy Sunday. Please do justice to this thread

A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

Tunex252:
A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

They don't beg.

They are just unprofessional.
How can you as a loan lender do such thing and expect the borrower to repay. Most borrower has the genuine mind to repay, may be they did not get the money on time. After adding late interest fee, you still go and disgrace him. Now your action has cause damage to him and also the loan company which made their actions childish.

They did it also to me. Since they have don their worst, I block all their number both phone and whatsapp ontill I'm ready to repay. I'm no longer rushing to repay.
And before I repay, they must first send apology messages to all my contact and also remove all the overdues.

I told one that 10m naira is not enough to compensate me for what they have done. She later sail they cannot remove all the overdue that they will remove some amount. But when the time comes they will remove all.

ivolt:


They don't beg.

They do, another of their staff will call to apologize and try to negotiate.

Holly Gram amabobi if u pay SHI SHI. Na THUNDER go FIRE u. WTF MAN

ivolt:


They don't beg.

. After threatening u and them see say u and ur contacts get gbana for head, they will beg

They have been calling me and threatening me with recorded messages.

The worst aspect is that I am not the one that borrowed the money. They said one of my friend used me as a guarantor.

Can you imagine that?

I just wish there's something I can do about this.

As for my friend, I don tell am make him no pay back shishi. They've gotten their loan back for all the pains they cause

FuckDModz:
They'll keep sending the messages and tracking your bank account until you pay up.

Nigerians are difficult people. Why take a loan when you have no means of paying it back?

Some of these fuc.king bastards have means of paying back, but they would rather receive payment for their pathetic services with another person's account just to pepper the loan company.

The best way to go about this is still imprisonment!
Idiots should be imprisoned if they fail to pay back a non-collateral loan after some time. Then send a message to their contacts that their idiot relative has been remanded in prison with no hope of even watery beans.

You people are missing the point.

The point is after subjecting defaulters to blackmail, and even defamation (which is a criminal offense in Nigeria), is the defaulter still bound to pay?

The issue is not whether people have the means or not of repaying.

Aside the fact that interest and service charges mount from the day of repayment, the riffraff that run these loan apps continue to blackmail their clients, including going as far as defaming them.

Mind you, I have heard cases of people who defaulted by only a few hours, but were already being harassed.

Nothing more

Some of these people intentionally take these loans knowing that they have no desire nor intentions to pay back, one recently bragged here that his friend took some loans and fled to Europe to further his education and he too is planning to do the same. Sometimes you begin to wonder if wickedness originated from Nigeria.

Choiii

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

The law does not give CBN such powers.

It's illegal. Ask any lawyer

After the collateral damage, you expect me to payback?
Jockers!!!

I hate those companies with passion

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

The policy is already in place

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

Honestly non of them is talking about not repaying back.

There’s some Seriously wrong with you OP and everyone on here who thinks this way, Hian! Why are Nigerians so untrustworthy and irresponsible, you collect loans you have no intention of paying back and then start crying wolf when a business that’s loosing money starts pursuing you for what you duly owe them

I think anyone borrowing meagre sums from these companies are people who lack credibility else why can’t you ask friends and family for such sums, but you will now take a loan from loan sharks cause it’s accessible and start avoiding them and not picking calls when the money is due

It’s a disgusting attitude!

But Nigerians need to do better. Some people borrow money from these Apps with the mindset of not paying back, some borrow when they know that they don't have any source to repay the money at the particular time the money will be due for payment. But then there are genuine ones who couldn't pay back at the due date.

Since you have their BVN, deduct your money from any of the defaulters account.

The defamation is bad. Simple!

T

G

This their tactics is called libel. Even though, the law wouldn’t protect us against personal insult or some sorts that inflicts wounds on our pride and feelings, It protects our reputation. The law protects your reputation against defamation, from harm that is unjustified. If someone or a company defames you, you can sue them for money (due to damages) for harming your reputation notwithstanding their crappy reasons, it’s the law’s right to decide what eventually becomes of you, not for them to take the law into their own hands.


I say they’re scumbags

Hmm

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

Welcome idea