Thugnificent:
I woke up yesterday morning only to receive whatsapp messages and phone calls from family and friends on my contact list that they received a message of me being a criminal and "loan prostitute" on the run with company funds because of few days overdue loan. I thought the Government claimed to have clamped down on this people. My Girl friend that normally calls me every minute hasn't called since yesterday. I'm guessing she has also received the message. I'm Soo embarrassed

if I be you I won't repay anymore.

[quote author=soliddust2020 post=

Please avoid loan apps they have a way having you into an endless loop of debts.

[/quote]

Reading those comments makes my heart beat twice in a seconds, because I've defaulted for seven days now, (due to Accident sha) and I am jxt recovery and not discharge yet... I gain access to my phone yesterday Saturday with more than 50 missed calls from the loan company...
I can't kill my self at this junction because I've lost almost everything I labour for...

I encourage people going through hard time, never give up because you're not alone, and suicide isn't an OPTION.... ���

BigMoneyeye:
i am also owing upto 23,000 i am only praying they wont defame me. although the threat
i dont even have a kobo yet

Ah! They'll oh!

Thugnificent:
I woke up yesterday morning only to receive whatsapp messages and phone calls from family and friends on my contact list that they received a message of me being a criminal and "loan prostitute" on the run with company funds because of few days overdue loan. I thought the Government claimed to have clamped down on this people. My Girl friend that normally calls me every minute hasn't called since yesterday. I'm guessing she has also received the message. I'm Soo embarrassed

did you borrow money or not?

Thugnificent:
I woke up yesterday morning only to receive whatsapp messages and phone calls from family and friends on my contact list that they received a message of me being a criminal and "loan prostitute" on the run with company funds because of few days overdue loan. I thought the Government claimed to have clamped down on this people. My Girl friend that normally calls me every minute hasn't called since yesterday. I'm guessing she has also received the message. I'm Soo embarrassed

don't mind them, ppl were understand go understand. It's just a matter of time, dem go forget am. Leave them alone n dnt Eva pay them again.

Thugnificent:
I've decided not to pay again but they won't stop sending this sort of embarrassing messages to my contacts that's the issue. I've joined the FB group. Thanks alot

Let them continue. They will get tired. Anytime they want to send such derogatory messages to your contact, they will send to you first. Just delete it and move on

Datboredberry:
Which money? He probably borrowed 5-20k...

He should just let it go... Many countries have debts...

Let go let go,that's why we remain backwards

Nigerians are very untrustworthy.

What you can't do to banks, you would be doing it to these small business.

Anyway, once you people make them to fold by your constant defaulting of debts, let us see who will borrow you guys urgent 2k.

Maybe it is First bank or zenith bank.

Tripitaka:


I do not think they have to expressly write that they will defame you. But I'll like to think there would be a clause like "in the event of you not repaying your loan, Soko Loan reserves the right to use any means to recover their money" bla bla bla

Use any means? What if it involves kidnapping or killing the debtor. Shebi na use any means abi?

Abfinest007:
Sue them if u have money

Let him pay first.
If I have my way I'll do same to my many debtors.
Why someone would plead and collect loan, yet default is what I don't understand.

Thugnificent:
I didn't have it in my mind to not pay back till they sent those nasty messages to all my contacts

Were those "nasty messages" sent out before or after the agreed repayment date?

AroOkigbo:

Were those "nasty messages" sent out before or after the agreed repayment date?

It was just 5 days overdue and I pleaded with the agent to give me some time and explained the reason for the default. He just replied "you'll hear from me soon" that was it. He sent this messages same day with my pictures to all my contacts just like that

Thugnificent:
It was just 5 days overdue and I pleaded with the agent to give me some time and explained the reason for the default. He just replied "you'll hear from me soon" that was it. He sent this messages same day with my pictures to all my contacts just like that

But please always try to live up to your promises. Remember, the loan company is into business and by defaulting you are denying their means of livelihood. They also have bills and salaries to pay. It's painful that many Nigerians are always defaulting on loans. I made a new year resolution NEVER to loan money to ANYBODY again because of similar bad experiences.

AroOkigbo:

But please always try to live up to your promises. Remember, the loan company is into business and by defaulting you are denying their means of livelihood. They also have bills and salaries to pay. It's painful that many Nigerians are always defaulting on loans. I made a new year resolution NEVER to loan money to ANYBODY again because of similar bad experiences.

I'm sorry for the bad experiences but this people are simply heartless. I would have paid on time but my business suffered heavy losses due to a robbery attack on my shop. I showed the pictures and all. Nobody loves owing but this their recovery measure is inhuman. If you were in my situation what will you have done differently?

As harsh as Sokoloan sound (and Lord knows I am not their fan for many reasons)..the reason why they do this is simple.

Many Nigerians do not pay back the loans they take from these loan companies.Some would even share tips on how to avoid paying back them loan sharks. Because of poor records, loan companies have no means of recovering their loans conventionally, so all that is left is 'calling the people'

In fairness, Government should shut all of them down. But who would among the banks give you a short term loan of N5K to N20K? Some banks give salary advance, but that's not for the vast majority of people who work in the informal sector.

All in all, OP needs to still pay his loan.

Datboredberry:


Loan prostitute ... Jesus!

Don't be...

I never hear am before.

sorepco:
Why are we in Nigeria adverse to repaying loan? How can we develop with no access to loan like other countries?

I get your point. I have loans that I took for businesses and never defaulted. In fact, I took loan to buy my current phone, to be paid back over a period of 8 months with just 10% interest.
But all these online loans can't bring development to the individuals and the nation at large. Rather, it is a menace to our society just like gambling, sports betting and baba ijebu. Imagine 25-360% interests on the loans within one month to six months! I think people should stay away from these loan apps

BigMoneyeye:
i am also owing upto 23,000 i am only praying they wont defame me. although the threat
i dont even have a kobo yet

Defame because of this chicken change? God, Nigeria is not a place to own someone money..

AroOkigbo:

Let him pay first.
If I have my way I'll do same to my many debtors.
Why someone would plead and collect loan, yet default is what I don't understand.

They should be exercising patient with the defaulters. That's why FG is clamping on them.

maasoap:


They should be exercising patient with the defaulters. That's why FG is clamping on them.

Exactly

Codeye:

Fear not brother! They are a toothless dog and can only bark✔

what if someone wanna leave this country??

soliddust2020:
I had similar issue with Xcredit. I payed my loan through Quickteller and they didn’t receive it. I provided screenshots and mails from Quickteller saying the transfer was successful. The next thing their agent said am and did broadcast to my contacts. My contacts insult their lives first. After 24 hours the stupid Xcredit sent me a message that my loan has been cleared. Since then anything loan app I don forget am. Thank God things has been better with me.
Please avoid loan apps they have a way having you into an endless loop of debts.

me wey collect easybuy phone nko?

Ihatebuhariwith:
what if someone wanna leave this country??

It does not affects in anyway. It only Western country that use credit score system

OP take it easy on yourself, shit happens…na you dey reason am like this…your contact will get used to it and the ones who know you, will not see you as criminal but blackmail from these loan shark.

If Defamation is part of their terms and conditions, why will the stupid Sokoloan be adding daily interest??

Just put yourself together and focus, no damage has been done, pay when you’re ready!

Nigeria/Africa needs total overhaul, it would be shocking to note that most of these loan shark are diabolical coupled with high unemployment rate.

In the western world, they freely give out loans because they trust their job system, unless you’re lazy and wicked.

One last thing Op… don’t go and take from Peter to pay Paul, if not you’ll be trapped. and ensure you download Truecaller to know when they’re calling and ignore…but if you picked, just know they’re ill mannered and ready to say word that will make you depressed all day.

Op…in all, na once your girlfriend give you chance 2secs, shey he don clear to you say no woman one suffer…Duncan mighty say a man must carry he own cross

My 2cent#

sorepco:
Why are we in Nigeria adverse to repaying loan? How can we develop with no access to loan like other countries?

baba people are damn wicked. E easy na him their families and friends no borrow dem the money , that’s why it’s hard for business to succeed in Nigeria.. Some of them go borrow with no intention of paying back . Pay and avoid embarrassment

E get one time I lend one guy almost 70% of my salary then , just because he had urgent issues and tbh I really had mercy on him . I carry the money give am and in his words, I was hoping before month end e go pay o( was managing with 30%) because he was on kneel crying to me that day , as if he knew na that day u collect salary , first month , second month, till 6th month when he paid 50%, I got mad and he was like shey e no try ni say things hard for am, na so people around self Dey tell me make I collect am like that say what are friends for.
I nearly cried cos I felt used. E pain me die cos I really really needed the money to settle stuff that time..

Since then I can only give you money , but borrow? Lailai, no matter how touching your story is






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Thugnificent:
I woke up yesterday morning only to receive whatsapp messages and phone calls from family and friends on my contact list that they received a message of me being a criminal and "loan prostitute" on the run with company funds because of few days overdue loan. I thought the Government claimed to have clamped down on this people. My Girl friend that normally calls me every minute hasn't called since yesterday. I'm guessing she has also received the message. I'm Soo embarrassed

Same here. Been paying bit by bit till d due date left with 7750. Dey still sent message to my reference numbers. Payed 4k left with 3750. Wasn't afraid after I head d news that government have shut dem down but this people are still doing same.

There was a time you created a thread on this. See, if I was the owner or the company and with how Nigerians act, I would do the same. You too, you would do the same but I know you'll say no, you won't.

Thugnificent:
I woke up yesterday morning only to receive whatsapp messages and phone calls from family and friends on my contact list that they received a message of me being a criminal and "loan prostitute" on the run with company funds because of few days overdue loan. I thought the Government claimed to have clamped down on this people. My Girl friend that normally calls me every minute hasn't called since yesterday. I'm guessing she has also received the message. I'm Soo embarrassed

if you pay them 1 kobo if I know you I fit tear you slap ask LCREDIT about me even if god beg me to pay them I won't

Shameless Nigerians encouraging him to break an agreement.

Frankly speaking... you do look like an unkempt criminal.

If you knew you couldn't pay up... you shouldn't have borrowed.

People who do that are evil and heartless. Some of you would be at front row in Churches and Mosques yet you would mercilessly keep a lender's money.

I don't pity you at all.

I am pissed that you would make those in genuine need suffer.