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Ruin By Online Loan App, Don't Know How To Break Free - Business (6) - Nairaland

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Online Loan Operators; After The Defamation, What Next? / How Does Someone Remove His/her Data From An Online Loan Platform? / What Will Happen If One Fails To Pay Back Loan From Loan App? (2) (3) (4)

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Re: Ruin By Online Loan App, Don't Know How To Break Free by nedekid: 7:51pm On Mar 12, 2022
LINTUNE:
oga only the likes of fairmoney,branch ,carbon , kuda etc are recognized and legal,others can't do shit,they cant report to any credit beaurea shit,say what u know..
Yes, I alway say what I know. And those are the ones I have dealt with. Branch and carbon only. They are in my credit report. I do not know of others as I have not used them. Until I do will I know if the will appear on first central credit bureau (the one I use).
Re: Ruin By Online Loan App, Don't Know How To Break Free by Nobody: 7:51pm On Mar 12, 2022
People are using the slangs

Even Nigeria government are in depth,

Why should also is citizens not be in depth

There"s a SAYING:::

If u pinch yourself and it hurts u, know if u pinch others, it will hurt them

Try to pay your depth no matter what,

So that people will trust and help u when u genuinely need it

Not paying your depth (IS NOT SMARTNESS) but FULLISHNESS

You are just closing genuine doors from opening for u
Re: Ruin By Online Loan App, Don't Know How To Break Free by Orpe7(m): 7:51pm On Mar 12, 2022
You can't live abroad gba!
Ur credit score would be fvcking low.
No one will ever want to borrow u money
Re: Ruin By Online Loan App, Don't Know How To Break Free by Geniero: 7:57pm On Mar 12, 2022
Baba nor let am worry you. ICPC don clamp down on them. Just leave them.





Duke007:
Hi every one, l have been a nairalander for over 10 years and have seen people get advised here, thats why l am putting this up with my account.
I am not blaming anybody for my predicament, neither do l blame the loan app company for their shark like business sytle, l take responsibility for my actions. I am one of those people who criticized people for Falling into the trap of online loan company. It's basically a rat race syndrome and tends to take you deeper and deeper from the seemingly innocuous first attempt.

It all started when my side hussle of buying and selling food stuff suffered a decreased in cost of replacement due to inflation and my sales boy stealing my money. I took my first loan to boost my business and realized that the cost of the loan is high. Since then, it's been a malicious cycle of robbing Peter to pay Paul. I realized that l was lossing money in each transcation and in order to meet up with my payment to avoid defaulting, l resorted to other loan company. Now, l don't even no what to do, all cash injection coming to me is spent on servicing the loan. I can't even feed my family and pay my children school fees. I am tire of this scenario and want to break free. It has taken a toil on me physically, mentally and spiritually.

I seek advice from people who have gone thru this ugly experience on how to break free before it is too late. Below is the list of my indebtness:

Ucredit #22,976. 15.03.22(due date)
Oxloan #26,250. 17.03.22
Lcredit #60,000. 17.03.22
Eazycredit #58,904. 21.03.22
imoney. #20,242 24.3.22
Okash #42,416. 31.3.22

I welcome any useful suggestion on how to break free. Thanks
Re: Ruin By Online Loan App, Don't Know How To Break Free by Karlzy01(m): 7:58pm On Mar 12, 2022
Jalinspy:
Bros na u just dey worry urself. I was in a much bigger mess than u but I broke free when soko loan double debited me. I wrote mails and call them tire. The refused to return my money.
Then I took the decision to borrow as much as possible from non registered loan apps up to the tune of over 200k.
It helped me renew my international passport & I used the remaining complete my Japa movement.
Today I am happily living where I am.
My advice to is: ignore there calls,threats,etc.
Download true caller so u can easily identify their spam calls.
Better get strong mind.
Bad advice.
Pay back what you borrowed it's not your money.
You have no justification not paying back.

1 Like 1 Share

Re: Ruin By Online Loan App, Don't Know How To Break Free by Tzar(m): 8:15pm On Mar 12, 2022
You have started well by placing the blame well … ON YOU!
1. Keep a shark eye on your business. Wake up in the morning, do a short prayer, check up on your kids and go straight to work. Oversee every singls transaction and collect your money yourself. Stop being a lazy motherf*cker that allows the sales boy/girl do all the selling and expects not to be ripped off.
Stay in your shop from opening to closing. Don’t attend any religious service during the week.
2. Cut down on ALL your expenses by at least 50% until you pay off all your loan. Move to a less expensive or smaller apartment, change the kids school to a good but affordable school, stop all giveaways to family or friends (you are in financial trouble & ONLY your kids & wife are entitled to your money). But cut down drastically on ALL frivolities like expensive clothes, food and outings even for your wife & kids til you break the debt chain.
3. Ask your wife to support you financially until you break free. If she isn’t working, make sure she goes look for work!
4. Don’t be deceived by religious houses to give money you don’t even have anyway.

Duke007:
Hi every one, l have been a nairalander for over 10 years and have seen people get advised here, thats why l am putting this up with my account.
I am not blaming anybody for my predicament, neither do l blame the loan app company for their shark like business sytle, l take responsibility for my actions. I am one of those people who criticized people for Falling into the trap of online loan company. It's basically a rat race syndrome and tends to take you deeper and deeper from the seemingly innocuous first attempt.

It all started when my side hussle of buying and selling food stuff suffered a decreased in cost of replacement due to inflation and my sales boy stealing my money. I took my first loan to boost my business and realized that the cost of the loan is high. Since then, it's been a malicious cycle of robbing Peter to pay Paul. I realized that l was lossing money in each transcation and in order to meet up with my payment to avoid defaulting, l resorted to other loan company. Now, l don't even no what to do, all cash injection coming to me is spent on servicing the loan. I can't even feed my family and pay my children school fees. I am tire of this scenario and want to break free. It has taken a toil on me physically, mentally and spiritually.

I seek advice from people who have gone thru this ugly experience on how to break free before it is too late. Below is the list of my indebtness:

Ucredit #22,976. 15.03.22(due date)
Oxloan #26,250. 17.03.22
Lcredit #60,000. 17.03.22
Eazycredit #58,904. 21.03.22
imoney. #20,242 24.3.22
Okash #42,416. 31.3.22

I welcome any useful suggestion on how to break free. Thanks
Re: Ruin By Online Loan App, Don't Know How To Break Free by ImoleNaija: 8:16pm On Mar 12, 2022
The loan sharks are too much; luring people with sweet messages & ripping them off their hard earned money.

Omoluabi16:
If you don't borrow, you won't die.

Life must be so easy for you.

Re: Ruin By Online Loan App, Don't Know How To Break Free by foreshore(m): 8:24pm On Mar 12, 2022
riverbird:

Not all of them na

Its phase by phase, I bet you most of them will be consumed because they all charge exorbitant interest
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 8:29pm On Mar 12, 2022
Tzar:
You have started well by placing the blame well … ON YOU!
1. Keep a shark eye on your business. Wake up in the morning, do a short prayer, check up on your kids and go straight to work. Oversee every singls transaction and collect your money yourself. Stop being a lazy motherf*cker that allows the sales boy/girl do all the selling and expects not to be ripped off.
Stay in your shop from opening to closing. Don’t attend any religious service during the week.
2. Cut down on ALL your expenses by at least 50% until you pay off all your loan. Move to a less expensive or smaller apartment, change the kids school to a good but affordable school, stop all giveaways to family or friends (you are in financial trouble & ONLY your kids & wife are entitled to your money). But cut down drastically on ALL frivolities like expensive clothes, food and outings even for your wife & kids til you break the debt chain.
3. Ask your wife to support you financially until you break free. If she isn’t working, make sure she goes look for work!
4. Don’t be deceived by religious houses to give money you don’t even have anyway.



Well taken
Re: Ruin By Online Loan App, Don't Know How To Break Free by showboy25(m): 8:30pm On Mar 12, 2022
Ko le work! In Nigeria
gost:
GO AND READ THE BOOK CALLED "THE RICHEST MAN IN
BABYLON".
THERE IS A CHAPTER THERE ON HOW TO PAY OFF YOUR LOANS.
PRACTICE THE INSTRUCTIONS IN THE BOOK.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Subomi11: 8:33pm On Mar 12, 2022
Duke007:
Hi every one, l have been a nairalander for over 10 years and have seen people get advised here, thats why l am putting this up with my account.
I am not blaming anybody for my predicament, neither do l blame the loan app company for their shark like business sytle, l take responsibility for my actions. I am one of those people who criticized people for Falling into the trap of online loan company. It's basically a rat race syndrome and tends to take you deeper and deeper from the seemingly innocuous first attempt.

It all started when my side hussle of buying and selling food stuff suffered a decreased in cost of replacement due to inflation and my sales boy stealing my money. I took my first loan to boost my business and realized that the cost of the loan is high. Since then, it's been a malicious cycle of robbing Peter to pay Paul. I realized that l was lossing money in each transcation and in order to meet up with my payment to avoid defaulting, l resorted to other loan company. Now, l don't even no what to do, all cash injection coming to me is spent on servicing the loan. I can't even feed my family and pay my children school fees. I am tire of this scenario and want to break free. It has taken a toil on me physically, mentally and spiritually.

I seek advice from people who have gone thru this ugly experience on how to break free before it is too late. Below is the list of my indebtness:

Ucredit #22,976. 15.03.22(due date)
Oxloan #26,250. 17.03.22
Lcredit #60,000. 17.03.22
Eazycredit #58,904. 21.03.22
imoney. #20,242 24.3.22
Okash #42,416. 31.3.22

I welcome any useful suggestion on how to break free. Thanks

You have to be bold and resolute. You have taken the first breaking free step by accepting that taken more interest attached loan is never the solution.

Be ready for their blackmail and tirades of malicious attack but be committed to paying back without prejudice to your business going on concern. Re-strategize you business approach and be patience, God will bless you. Interest attached loan of any form is blessing killer.

4 Likes

Re: Ruin By Online Loan App, Don't Know How To Break Free by macaranta(m): 8:53pm On Mar 12, 2022
Duke007:
Hi every one, l have been a nairalander for over 10 years and have seen people get advised here, thats why l am putting this up with my account.
I am not blaming anybody for my predicament, neither do l blame the loan app company for their shark like business sytle, l take responsibility for my actions. I am one of those people who criticized people for Falling into the trap of online loan company. It's basically a rat race syndrome and tends to take you deeper and deeper from the seemingly innocuous first attempt.

It all started when my side hussle of buying and selling food stuff suffered a decreased in cost of replacement due to inflation and my sales boy stealing my money. I took my first loan to boost my business and realized that the cost of the loan is high. Since then, it's been a malicious cycle of robbing Peter to pay Paul. I realized that l was lossing money in each transcation and in order to meet up with my payment to avoid defaulting, l resorted to other loan company. Now, l don't even no what to do, all cash injection coming to me is spent on servicing the loan. I can't even feed my family and pay my children school fees. I am tire of this scenario and want to break free. It has taken a toil on me physically, mentally and spiritually.

I seek advice from people who have gone thru this ugly experience on how to break free before it is too late. Below is the list of my indebtness:

Ucredit #22,976. 15.03.22(due date)
Oxloan #26,250. 17.03.22
Lcredit #60,000. 17.03.22
Eazycredit #58,904. 21.03.22
imoney. #20,242 24.3.22
Okash #42,416. 31.3.22

I welcome any useful suggestion on how to break free. Thanks

What do you guys achieve with all these small small monies?
Re: Ruin By Online Loan App, Don't Know How To Break Free by Totomatter: 8:56pm On Mar 12, 2022
Make I borrow u sense...they will only rant and rant...send u stupid msg but dey can't do shit to u broda...go outside buy chill coke and 4get abt them..life no get duplicate..
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 9:00pm On Mar 12, 2022
Ok, just downloaded the book. Will read it
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 9:06pm On Mar 12, 2022
Iliveforever:
OGA keep quiet, I’m sure this is a sarcasm post after hear FG has banned loan companies.

You can now enjoy ur loot as you wanted or are you complaining about no more app to borrow from?

If only you were in my shoes, don't judge what haven't experienced.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Sazzy07(m): 9:10pm On Mar 12, 2022
Guy na only help God fit run for you
Make up your mind not to borrow again, no matter what happens even if it means you selling your smartphone and using a smaller phone to switch off the temptation.
One of the Fairmoney agents registered me on their microfinance bank, next message I am set for a small loan, I uninstalled the app, blocked their line and gave myself rest.
Debt is not fun at all
Re: Ruin By Online Loan App, Don't Know How To Break Free by flexyrule(m): 9:11pm On Mar 12, 2022
Chillext:
Bros you dey learn for where I dey
You sef dey learn for where one of my guy dey.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 9:19pm On Mar 12, 2022
ultimateprof:
Its time for your church members and pastors to come in. Tell them your problems tomorrow after service, from there God will help you. This can only work if you're a committed member of the church.

You are very funny sir. Churches are not charity houses, they don't provide financial succour to members. I am not the churchy type. Pastors don't give a damn about your problems.
Re: Ruin By Online Loan App, Don't Know How To Break Free by debosalau(m): 9:24pm On Mar 12, 2022
gost:
GO AND READ THE BOOK CALLED "THE RICHEST MAN IN BABYLON".
THERE IS A CHAPTER THERE ON HOW TO PAY OFF YOUR LOANS.
PRACTICE THE INSTRUCTIONS IN THE BOOK.

God bless you
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 9:25pm On Mar 12, 2022
macaranta:


What do you guys achieve with all these small small monies?

Hmm, small money you say. Men are in sizes, what is small to you maybe gargatun to someone else. #230K is quite a huge sum. lt can change my life.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Noeasyway042(m): 9:30pm On Mar 12, 2022
God will see you through. Message me through my E-mail.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 9:34pm On Mar 12, 2022
phemmyfour:
Break your phone and cut ties with internet world

Your advise is good but can't be adhere to.
Re: Ruin By Online Loan App, Don't Know How To Break Free by ceeceeuwa: 9:35pm On Mar 12, 2022
Duke007:
Hi every one, l have been a nairalander for over 10 years and have seen people get advised here, thats why l am putting this up with my account.
I am not blaming anybody for my predicament, neither do l blame the loan app company for their shark like business sytle, l take responsibility for my actions. I am one of those people who criticized people for Falling into the trap of online loan company. It's basically a rat race syndrome and tends to take you deeper and deeper from the seemingly innocuous first attempt.

It all started when my side hussle of buying and selling food stuff suffered a decreased in cost of replacement due to inflation and my sales boy stealing my money. I took my first loan to boost my business and realized that the cost of the loan is high. Since then, it's been a malicious cycle of robbing Peter to pay Paul. I realized that l was lossing money in each transcation and in order to meet up with my payment to avoid defaulting, l resorted to other loan company. Now, l don't even no what to do, all cash injection coming to me is spent on servicing the loan. I can't even feed my family and pay my children school fees. I am tire of this scenario and want to break free. It has taken a toil on me physically, mentally and spiritually.

I seek advice from people who have gone thru this ugly experience on how to break free before it is too late. Below is the list of my indebtness:

Ucredit #22,976. 15.03.22(due date)
Oxloan #26,250. 17.03.22
Lcredit #60,000. 17.03.22
Eazycredit #58,904. 21.03.22
imoney. #20,242 24.3.22
Okash #42,416. 31.3.22

I welcome any useful suggestion on how to break free. Thanks
Read the below and stop panicking. Their accounts have been frozen:
FG shuts illegal online banks, freezes business accounts
March 12, 2022 by Anozie Egole
The Federal Competition Consumer Protection Commission, in collaboration with the Independent Corrupt Practices and other Related Offences Commission, National Information Technology Development Agency, and the Nigerian Police Force, on Friday, raided some illegal financial institutions operating on Opebi Road, Ikeja, Lagos.
Among the financial institutions affected were, GoCash, Okash, EasyCredit, Kashkash, Speedy Choice, Easy Moni.
The raid, the FCCPC said, was in response to customers’ complaints of malpractices by the financial institutions.
Speaking during the raid, the Chief Executive Officer, FCCPC, Babatunde Irukera, explained that customers had accused the financial institutions of violating their privacy in their debt recovery drive.
He said, “This information started quite a while ago. Some time ago, when the country was on lockdown in 2020 due to the pandemic, we started seeing the rise in money lenders”
“Because there was lockdown due to the pandemic, people needed small easy loan which is understandable. But over a period of time, people started complaining about the malpractices of the lenders, so we started tracking it”
“Towards the end of last year, we gathered quite a lot of information. We started working with some other key agencies and the FCCPC led the meeting where we all agreed there would be a joint effort to look into these businesses.”
According to Irukera, the interest rate charged by online financial institutions appear to violate the ethics of how lending is done.
He further said, “The key two things that were subject of concern were what seems to be the naming and shaming violation of people’s privacy with respect to how these lenders recover their loans.”
“Secondly, the interest rate seems to be a violation of the ethics on how lending is done. So, those were the two things that we set out to look for.”
“So, we started an investigation trying to determine the location of these firms. That has been a very difficult thing. We did that for several months and some of them have moved from one place to the another and we have been visiting these places for months”
The FCCPC boss, however, said investigations had revealed that the loan firms were neither Nigerian companies nor registered in the country.
“We found out that most of these companies operate from the same place. We also found out that many of them are actually operated by the same person. They are not Nigerian companies, they don’t have an address in Nigeria and they are not registered in Nigeria with the Corporate Affairs Commission and they do not have any licence to do their business”
As a result, Irukare said the agency had written to global app companies asking them to suspend the operations of the online banks.
He said, “Essentially, what they have is an app, and so we started gathering more information about them. We engaged the public and the people who had been their victims. They gave us more information”
“As we got more information we had enough evidence to convince the court to issue a warrant for us to proceed with an investigation into a search and seizure. And sometime last month, a court issued a warrant and between then and now, we were preparing a sting operation which is what you are seeing here today. The reason for this is because we wanted to be sure we are hitting at the place we could get many of them.”
It doesn’t also mean that the people we are proceeding against today are the only ones, no. We want to start with them. We also understand that they are between five and seven companies operating at the same location.”
Re: Ruin By Online Loan App, Don't Know How To Break Free by riverbird: 9:38pm On Mar 12, 2022
debosalau:


God bless you

Very powerful book
Re: Ruin By Online Loan App, Don't Know How To Break Free by Donangelo(m): 9:38pm On Mar 12, 2022
Guy no do am, e get why. If you heed to this my instruction, you will thank me later.
YourFavorite21:
most of the students in my school are into yahoo, or crypto business, and my conscience no go gree me do am.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Myer(m): 9:42pm On Mar 12, 2022
Duke007:


I am not a yahoo guy and did not intent not to repay, it's life drama, don't judge a story you haven't experienced.

I have worked with an MFI and we know these signs.
When a client is collecting loans from multiple sources, it's a major red flag.
Cos you're simply collecting from Peter to pay Paul and eventually it usually explodes cos you get choked with the repayment overlapping.

Anyway, my advice is try to pay up and stick to one MFI.
Usually they have various loan products to suit your needs and are designed not to choke you if you stick to one MFI.

All the best.
Re: Ruin By Online Loan App, Don't Know How To Break Free by Olufemiolaolu(m): 9:44pm On Mar 12, 2022
Pay up your loan and go and sin no more biko
Re: Ruin By Online Loan App, Don't Know How To Break Free by Thomist(m): 9:50pm On Mar 12, 2022
This is sad. I can help you get a decent and manageable work. I can also help you get rud of spyware from those loan app that they can't even get in your contacts and other info any more..

whatsapp me 08105719886
Re: Ruin By Online Loan App, Don't Know How To Break Free by Duke007(m): 10:04pm On Mar 12, 2022
gazilion:

How much did you borrow?
@gazilion, my total indebtness is#230,780.00. I am sorry for the late response.
Re: Ruin By Online Loan App, Don't Know How To Break Free by AuroraB(f): 10:06pm On Mar 12, 2022
Holumhidey:
Just go to third mainland bridge
Take your shoes and wrist watch off
Then take a leap of faith into the lagoon
you be fuuuuuuul cheesy grin

2 Likes

Re: Ruin By Online Loan App, Don't Know How To Break Free by Eben91: 10:37pm On Mar 12, 2022
englishmart:
Those loan app guys are criminals. Their interest rates are criminally extortionate
I once took a loan from an online outlet #4000. The interest was 2000, i.e 50%. I deliberately took that loan, I wanted to see what my defaulting to pay back was capable of attracting. They called, I took the call, the lady was like "Your debt is overdue, when are you paying" I told her I didn't know, and didn't care. And btw you have a very beautiful voice. Tell your boss to tell his boss that I won't pay."


They sent texts in thousands,I didn't even care. They threatened to to defame me, hack into my contact and inform them I was a fraudster. They were also coming to arrest me. I told them there's nothing to defame. Buhari is owing, Nigeria is also owing.
After some months, they moved from using threats and scurrilous language to entreating. They even said I could pay by installments. Installment ko, installation ni? sad Because of them I stopped taking calls from numbers I didn't have on my contact. Later they said I should pay 4000 and they will waive the accumulated interests.
"Ehen, na now una come. Send me the account number."
I transferred the money to them.
I later checked their app to know my eligibility status, or to see if I could take a higher loan. Lo and behold, I was dishonorably blacklisted.
Wetin concern me.
Some will even go as far as asking for your card detail. Yahoo boys have gone better.
You honestly deserve an award aje

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