Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

Hmmm

Please change your line of business.

Majority of Nigerians are bad debtors..

Only lend out what will not hurt you should the borrower refuses to pay back.


Know this today and have peace.

TO LEND IS HUMAN
TO GET IT BACK IS DIVINE.

Ahmed0336:
Hmmm

Please change your line of business.

Majority of Nigerians are bad debtors..

Only lend out what will not hurt you should the borrower refuses to pay back.


Know this today and have peace.

TO LEND IS HUMAN
TO GET IT BACK IS DIVINE.

Most Nigerians don't deserve help.

Even if police arrest them you may not get refund but police station I'll get their own money. First is to trace them to their Residence ,know much of their families or their work place .you will now start and take your verbal and vicical Threat with cutesy but nest time after this one ask for collateral from whoever you want to give lone ,even tell some to bring things with receipt that over value the amount you are giving out to them and set laps time for them. if payment was not make their properties will be forfieted. Stop allowing familiarity in your business but don't forget " The words of God doesn't permit us for this kind of business"

Juju


I sell old facebook, twitter and instagram accounts at cheap rates.

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Sometimes, I don't blame sokoloan and others from what they do. Some people don't and wouldn't want to necessarily pay until you start threatening them. I guess, you didn't know the rules of being a money lender in Nigeria.

You need to be fierce. Anyone that defaults, carry men, go mend mend the defaulters body. So that other people would know how e dey be. And, you'll have to have the backing of the highest of the highest hierarchy in the police system. So, all can go in Peace.

Dm me if you want me to arrange boys that'll enforce payment for you. You wouldn't have to worry about not getting your payment.
Just kidding though.
Life is eazy.

To maintain your peace of mind, avoid lending people money. It's a bad investment. You're not a bank!

It's always hard to collect back money lended dx days oh

AbelAbdul:
Good morning everyone.

I was here on this platform in 2019 seeking for advice concerning Transportation business.
I eventually went into the business and it was a sad experience. You can read my previous threads for more information on the business.

After the collapsed of the transportation business, I venture into money lending business.

I lend money to people with the hope to get a refund with interests.

Since 2019 I went into the business, I have lent money to over 20 people and only 5 have refund the money.

Those 5 people who refunded the money, it was a fight before the refund.

Before I lend money to people, I make them sign T & C documents.
Some signed the hard copy others signed the softcopy.

When it is time to pay off, they refuse to pay. I have called them severally. At a point I told them to pay only the capitals and forget about the interests.

At a point some will make statements like "Don't disturb me. Even Federal Government owes. It is debt not stealing".

I had made arrangement that this December I will arrest some of them.

But recently I read on this platform that the police has no right to arrest anyone over debt.

Please how can I get them refund my money without involving the police?

Lalasticlala

Let them get a fetish injunction (or seemingly so) from a known deadly shrine concerning the debt and watch them pay with extreme humility. Don't forget to send my 10% consultancy.

What were you thinking lending money To Nigerians
OP if you can just forget about the money, just see it as a bad debt.


I learnt the hard way after dragging them from one spiritualist to another now if I have spare cash I give and forget about that money . If you like return if you like no return na you sabi.

adekolaelect:
Even if police arrest them you may not get refund but police station I'll get their own money. First is to trace them to their Residence ,know much of their families or their work place .you will now start and take your verbal and vicical Threat with cutesy but nest time after this one ask for collateral from whoever you want to give lone ,even tell some to bring things with receipt that over value the amount you are giving out to them and set laps time for them. if payment was not make their properties will be forfieted. Stop allowing familiarity in your business but don't forget " The words of God doesn't permit us for this kind of business"

Thanks for your advice. I appreciate

SportsHD:
Sometimes, I don't blame sokoloan and others from what they do. Some people don't and wouldn't want to necessarily pay until you start threatening them. I guess, you didn't know the rules of being a money lender in Nigeria.

You need to be fierce. Anyone that defaults, carry men, go mend mend the defaulters body. So that other people would know how e dey be. And, you'll have to have the backing of the highest of the highest hierarchy in the police system. So, all can go in Peace.

Dm me if you want me to arrange boys that'll enforce payment for you. You wouldn't have to worry about not getting your payment.

Life is eazy.

Being a loan shark in Nigeria isn't a easy feat but, it can be done.

I don't charge them much. I give loan without interest to those who hold it for the maximum period of 35days. Still the find it hard to pay.
Some will insult me when I call them.
Lastly I don't want to use boys. It's not legal.

H

Brandonx:
What were you thinking lending money To Nigerians
OP if you can just forget about the money, just see it as a bad debt.


I learnt the hard way after dragging them from one spiritualist to another now if I have spare cash I give and forget about that money . If you like return if you like no return na you sabi.

Thanks. One of them is an Air Force two star officer.

Forget that police cannot arrest debtors thing, they are so corrupt and they would do anything for u.

If u won't do that.
Get a lawyer and take the person to court straight.
The person would even pay more sef and pay for ur struggles. Sue all of them together.

Brandonx:
What were you thinking lending money To Nigerians
OP if you can just forget about the money, just see it as a bad debt.


I learnt the hard way after dragging them from one spiritualist to another now if I have spare cash I give and forget about that money . If you like return if you like no return na you sabi.

u have joined all unreasonable persons in judging all Nigerians as one.
What's wrong with lending money to Reasonable persons ?

shawnfamous:
u have joined all unreasonable persons in judging all Nigerians as one.
What's wrong with lending money to Reasonable persons ?

And you think Nigerians are reasonable when it comes to money ?

From your write up it’s obvious you are still under the roof of your parents so I wouldn’t blame you for your myopic way of reasoning.

shawnfamous:
Forget that police cannot arrest debtors thing, they are so corrupt and they would do anything for u.

If u won't do that.
Get a lawyer and take the person to court straight.
The person would even pay more sef and pay for ur struggles. Sue all of them together.

Thanks

Brandonx:


And you think Nigerians are reasonable when it comes to money ?

From your write up it’s obvious you are still under the roof of your parents so I wouldn’t blame you for your myopic way of reasoning.

dude if use ask money from me I wouldn't give u because my friend refused paying me his debt ? Baba, if I see u fit and responsible, why won't I ?

Don't worry, OP. Most of your debtors are enlisted for Squid Game (Buhari regime) at the moment. Just pray they come out fine, so they can refund you. Apparently, no one is happy being in debt.

Forget the 'Nigerians are bad debtors' post, 2/3 of people who post it are also indebted one way or the other. We just like to dey flex muscles unnecessarily.

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Try using the services of this my guy below. You will get all your money within 4 market days.

Just be begging them.
Tell them u need it urgently, else you'll die.
Then pray to God for mercy.

Honestly, u r not serious yet.



As I dey laidis, I no get money.
I dont have any excess to loan out to anybody.

The last 10k in my account I gave to a friend 2months ago is still pending.

He was crying on d phone while begging me for that 10k loan and he promised to pay back in 5 days.

As I speak to u now, he doesn't take my calls again . but when I called with a different number, he picked d call instantly.

That was how my 15 years friendship with him ended because of a loan


I may have no cash but I'm just happy that I'm not owing anybody.



If u have enough money to give out as loan, u r on +1

If u don't have money at all, u r on 0

But if u r owing, u r on -1



Thank u father in heaven.
I am happily on 0

Nigerians distaste paying debts. You would already know that from even close persons that just ask for random things. So if you must lend, first make sure it is worth you can afford to lose. Secondly, if it is business sake, make sure you screen and demand what will be your option B. Else na talk & fight go remain.

Eweeeyyyy!

For this Buhari Nigeria wey things dey hot now, I think one sure way way is gbas gbos... By the time you comot him getting teeth, e go take you seriously..

PS: but you should try every pragmatic approach before resorting this this sort of violence

Juju.. Nigerians are stubborn

Take their names to original native docto

Area boys

Threaten dem with white handkerchief and 3 white pigeons.
Allow one of the pigeons to fly away while you recite an old school nursery rhymes in your dialect, but make sure your friend has never heard this nursery rhymes before, then use the handkerchief to tie the remaining pigeons, now ask for your money or date he would like to pay back.

BR

First of all, are you a registered money lender? If yes, take the person to court and he or she will pay both principal and interest. Infact he may even be asked to pay for the money spent on legal fees.

However, if you are not registered, the law has no much space for you. At most the borrower will be asked to refund you the principal.

Though not everyone is aware of such. So you can do is to go them physical to ask and be loud about it since gentlemanliness didn't work. Threaten them with the law. Like "you will use law enforcement to arrest them or sue them in court". Please in the process avoid sentences like " I will deal with you or I am going to deal with you".

Also, check the details of your agreement again and try rewriting smartly if it wasn't. If you are not registered, your agreement should carry something like a "friendly loan agreement". If it comes to the amount you are lending out, it should carry the amount you are expecting as refund. i.e if you are lending 90k to collect 100k in return, the amount to be written as money lent out and nothing like interest should show there.