King125007:
Well I don't doubt you o
When i used to work in one of those company, back then, that 30k was our basic salary- by basic I mean if you just wake-up and go to the office daily nd sit down without doing anything at all, you will still be paid that basic.. Not joking

But if u manage to work small your minimum should be 50k+, 70-80k then if you're among top 10-top 20, then you should e taking home 120-150k..

Well she may be right it all depends on the loan company, there are so many of them right now, but some are really still paying well and you can work remotely and at the office

Working remotely start from covid-19 locked down

I know a frd (graduate ) working there that used this to open a big photography studio and bought all d equipment.. It was a gradual process but he was able to achieve it, many of them

About staffs overdoing, why don't the proprietor allow issues like that to the reported if they are really serious and against it? Like report any number threatening you or report when you receive defamation to appropriate contacts provided (it's traceable since individuals assigned will account for it).

To the NIGERIANS ARE BAD DEBTORS "YEN YEN YEN" people, what do you expect from a failed system and economy?

Developed countries have good credit systems and how they recover loans. Not organisations milking desperate people and expecting to end well. USA president just released over 20billion dollars forgivable loans to its citizen recently because they know how the economy is right now.

"You agreed to the conditions" lol, who won't agree when they are desperate.

If anyone defames you, you'll be foolish cow to pay back if they don't show you where it was in the agreement to reach people apart from your guarantors. If they don't defame, try and pay back little by little till you sort it all but very calculative not to pay the stupid accrued interest over time.

If any uses "God will judge you or God will punish you", don't fret! God is against owo ele (loan with interest).

You are not a debtor but an experimental meat trying to survive against all odds. BUT DON'T GO AROUND OWING/BORROWING WHAT YOU KNOW YOU WON'T PAY BACK OR ELSE GOD AND THE UNIVERSE WILL PUNISH YOU DEARLY FOR IT.

AND IF YOU ARE A LOAN AGENT/RECOVERY AGENT, YOU ARE READING THIS AND YOU ALSO ENGAGE IN DEFAMATION AND HARRASMENT WHICH HAVE LED TO SOME PEOPLE'S DEATH, PUT THEM INTO TROUBLES, MAY ALL THE CURSES IN THE BIBLE AND QURAN FOLLOW YOU TILL YOUR FOURTH GENERATION.

Carlyboi:




That concerns the Shylocks and debtors and you,but,pray tell,what do you think should be done to the bad debtors just write off their loans?besides,are you saying the Shylocks handed out loans without putting out a T & C for defaulters?and were debtors compelled to take the Shylock’s loan?the one that breached the agreement is the debtor.

I’m not holding brief for the Shylocks and their crude loan recovery methods and tactics but I think it’s ridiculous that you’re trying to absolve the defaulters and bad debtors here.

HELL YEAH!, I'm trying to absolve bad debtors who should pay to fraudulent companies evading tax and laws of the country, putting people already in poverty to depression, defamation, harrassment and absurd payment conditions.

Why don't they go to the developed countries and do what they are doing if they are really helping the people and the economy like they claim. They have caused more wreck and havoc! When they weren't around, Nigerians were surviving!

mhiztaNexy:

HELL YEAH!, I'm trying to absolve bad debtors who should pay to fraudulent companies evading tax and laws of the country, putting people already in poverty to depression, defamation, harrassment and absurd payment conditions.

Why don't they go to the developed countries and do what they are doing if they are really helping the people and the economy like they claim. They have caused more wreck and havoc! When they weren't around, Nigerians were surviving!

Dude!No one compelled them to take loans from shylocks or have any dealings with the “ fraudulent companies “ as you tagged them...they had a choice and so not only can’t they be absolved they’re the bigger crooks who took a loan despite knowing the T & Cs and the high interest rate but are refusing to pay back!

In a developed country the loan companies would be protected also,a developed country isn’t a haven for bad debtors Just so you know!

Carlyboi:



Dude!No one compelled them to take loans from shylocks or have any dealings with the “ fraudulent companies “ as you tagged them...they had a choice and so not only can they be absolved they’re the bigger crooks who took a loan despite knowing the T & C and the high interest rate but are refusing to pay back!

In a developed country the loan companies would be protected also,a developed country isn’t a haven for bad debtors Just so you know!

protected the companies from what? Companies that infringe privacy and evade tax? Don't follow the normal regulations? Lmao, dude are you kidding me? Companies that sell your contacts to others? Companies that don't have physical offices? How do you know they are refusing to pay intentionally? if it's that bad, they'd have folded up but they keep multiplying (will you keep investing if you run on a loss most times?)

Yeah, no one compelled them to take the loans but conditions. The same conditions that will chase those thieves out of the country if they continue with they stupid ways and short term with ridiculous interest.

"developed country isn’t a haven for bad debtors Just so you know" lmao! Go and check the everyday life of an average citizen of developed countries. They live on debts/loans which they are able to pay when they work with no harrassment and defamation. Go and look at how they complain about paying off student loans without no one harrassing them or defaming them but you are here supporting those chinese bastards with how they handle situations killing your people. Why don't they stay in their country?

xristos:
sweet news to my ears..
i'm no more shocked..
my sig.

But you must repay this one first

Lexit:
Did you not see the terms and conditions before accepting? How dumb!

I guess the government is dumb too for clamping down on them.
I hope you are smart enough to know that they are breaking Nigeria's condition for giving out loans. If they are operating illegally, then are as big a criminal as loan defaulters.
If they are doing the right thing, they wouldn't be hiding their base of operation.

JASONjnr:
How will they recover the money from their debtors?


FG and their useless policies....


The loan companies aren't a bad option. But the percentage given is the problem.

How can you loan company 300k and will have to pay back 500k.. And when you can't pay it off... they begin to add to it... Why?

Anyway, I should've collected a loan before they blocked them.

That's why they are thieves. I can't imagine myself taking loans from those thieves. Serves them right. Nonsense.

einsteine:



Loan shark apologist spotted.

The industry is already regulated. It's your loan shark overlords who have deliberately refused to comply.

Are you aware that these loan sharks do not pay tax? Are you aware that they trap people in debt slavery and are breaking usury laws? The humongous profits they make is why they can afford to employ every man and his dog for their illegal activities.

So government should allow fly by the night operators to bring in criminal money from Chinese Triads (organised crime) because one unemployed graduate wants to get 75k monthly to be insulting people.

Can any of these so called graduates put this job on their CV? Can any of them proudly say they work for Soko Lending?

That's how dirty the job is and so the entire sector should be tossed into the thrash.

Let's be honest, how many companies even pay taxes in Nigeria.

Mr man for your information it is only multinational companies that pay full taxes in Nigeria.

Even you that is making noise upandan I challenge you to post your Lagos Tax card or copies of your Tax Clearance Certificates for the last 3 years!

Lexit:
Did you not see the terms and conditions before accepting? How dumb!

You guys keep sighting terms and conditions, i took me time to read a few, there is nowhere it was said that your contacts will be contacted.

The only minimum indicated is overdue interest (which surpasses the required legal limit) apart from that nothing else.

The terms and conditions can be used as a legal document, and those loan sharks carefully darfted it so that it cannot implicate them. Also they cannot come out openingly and be contravening laws and regulations

It's okay to regulate them to curb their excesses. For those who do not want to repay their loans, you might want to view this thread

https://www.nairaland.com/7057692/before-refuse-repay-loan

ololololo:
It's okay to regulate them to curb their excesses. For those who do not want to repay their loans, you might want to view this thread

https://www.nairaland.com/7057692/before-refuse-repay-loan

I have been seeing that rubbish you posted on that link on Facebook.

Loan apps don't carry out any KYC or credit search.

They don't report any default to any centralized database, except if they have their own "Loan sharks database" which the Central bank, commercial banks, and other licensed lenders have no business with.

Getting details of your credit history and credit score isn't rocket science, you can order a report with less than N10,000 from the comfort of your home/Office.

The only thing the "Loan shark" will hold against you is your "image" (that's if you give two f*cks about that).

If you fill up a phone with fake contacts, access a loan from them, and refuse to pay. That money is as good as a gift.

They can't do nothing!

yeyebrity:


When the table is turned, then you should never complain.

You watch too many Nollywood movies!

Don't assume that someone who did not provide financial assistance to you will later come to beg you for help in future...things don't work out like that in real life!

Toktee:
So how does that affects you bro, did you wakes up this morning and pray to God to give you strength to offend people ?
Or are you a staff of one of the loansharks?

I don't understand you at all.

You just need ignore that fellow if you value your time, the rate some people justify evils they are not at the recieving end, just like the supporters of the current administration.. Gets me questioning their conscience and sanity.

Oh

Soko loan is a learner, the real crooks are MIGO. These guys charge as high as 65% and above.

They also have stiff penalties for default.

mhiztaNexy:
protected the companies from what? Companies that infringe privacy and evade tax? Don't follow the normal regulations? Lmao, dude are you kidding me? Companies that sell your contacts to others? Companies that don't have physical offices? How do you know they are refusing to pay intentionally? if it's that bad, they'd have folded up but they keep multiplying (will you keep investing if you run on a loss most times?)





Yeah, no one compelled them to take the loans but conditions. The same conditions that will chase those thieves out of the country if they continue with they stupid ways and short term with ridiculous interest.

"developed country isn’t a haven for bad debtors Just so you know" lmao! Go and check the everyday life of an average citizen of developed countries. They live on debts/loans which they are able to pay when they work with no harrassment and defamation. Go and look at how they complain about paying off student loans without no one harrassing them or defaming them but you are here supporting those chinese bastards with how they handle situations killing your people. Why don't they stay in their country?

If you took your time to read my replies you’d see where I stated that I’m not holding briefs for the loan companies and if you’re discerning you’d see I called them “ shylocks “ for a reason that’s a derogatory term,i also stated I don’t approve of their crude loan recovery methods so I don’t know what else you’re looking to read from me to show I’m not really on their side but if you think I’d absolve the bad debtors and crooked un-credit worthy Nigerians taking loans from them but would refuse to pay back under any guise but come online to cry wolf about the T & Cs and high interest rate while not being blindfolded when taking the loan,then you’re dead wrong as that’s not gonna happen!bad debtors are unpleasant people and such dubious acts irks me to the heavens.

Carlyboi:




If you took your time to read my replies you’d see where I stated that I’m not holding briefs for the loan companies and if you’re discerning you’d see I called them “ shylocks “ for a reason that’s a derogatory term,i also stated I don’t approve of their crude loan recovery methods so I don’t know what else you’re looking to read from me to show I’m not really on their side but if you think I’d absolve the bad debtors and crooked un-credit worthy Nigerians taking loans from them but would refuse to pay back under any guise but come online to cry wolf about the T & Cs and high interest rate while not being blindfolded when taking the loan,then you’re dead wrong as that’s not gonna happen!bad debtors are unpleasant people and such dubious acts irks me to the heavens.

ok

SavageResponse:


Let's be honest, how many companies even pay taxes in Nigeria.

Mr man for your information it is only multinational companies that pay full taxes in Nigeria.

Even you that is making noise upandan I challenge you to post your Lagos Tax card or copies of your Tax Clearance Certificates for the last 3 years!

You have tried severally to deny you work for a loan company. The joke is on you sha

Tell the loan company you work for to pay their taxes and also stop ripping off poor Nigerians with ridiculous interest rates and other charges.

einsteine:


Do you know what usury laws are?

Do you know what unenforceable contracts are?

I will provide some education here.

You are not allowed as a money lender to charge above defined rates. I have forgotten the exact figure for Lagos State but it is around 50% per year. These loan sharks charge that amount per week.

On the issue of contracts and terms and conditions, their terms and conditions are illegal ab initio and as such they cannot argue on the basis of it.

It's like saying because a borrower signs a contract that you can take his kidney if he fails to pay, that you can go ahead to take it. Organ harvesting is illegal and as such, that contract is illegal and unenforceable.

Loan sharks share personal information with third parties, infringe on the privacy of people who didn't take loans (this is an offence under the cybercrime act and under NITDA regulations), and shame and threaten people (also an offence under defamation laws in the criminal code). That they claim they informed customers in their terms and conditions is immaterial as those terms and conditions are illegal.

Well said.

mhiztaNexy:
protected the companies from what? Companies that infringe privacy and evade tax? Don't follow the normal regulations? Lmao, dude are you kidding me? Companies that sell your contacts to others? Companies that don't have physical offices? How do you know they are refusing to pay intentionally? if it's that bad, they'd have folded up but they keep multiplying (will you keep investing if you run on a loss most times?)

Yeah, no one compelled them to take the loans but conditions. The same conditions that will chase those thieves out of the country if they continue with they stupid ways and short term with ridiculous interest.

"developed country isn’t a haven for bad debtors Just so you know" lmao! Go and check the everyday life of an average citizen of developed countries. They live on debts/loans which they are able to pay when they work with no harrassment and defamation. Go and look at how they complain about paying off student loans without no one harrassing them or defaming them but you are here supporting those chinese bastards with how they handle situations killing your people. Why don't they stay in their country?

Well said. Loving your posts.

TechBaron:
I have been seeing that rubbish you posted on that link on Facebook.

Loan apps don't carry out any KYC or credit search.

They don't report any default to any centralized database, except if they have their own "Loan sharks database" which the Central bank, commercial banks, and other licensed lenders have no business with.

Getting details of your credit history and credit score isn't rocket science, you can order a report with less than N10,000 from the comfort of your home/Office.

The only thing the "Loan shark" will hold against you is your "image" (that's if you give two f*cks about that).

If you fill up a phone with fake contacts, access a loan from them, and refuse to pay. That money is as good as a gift.

They can't do nothing!

No need to trade insults with you. Just default on a loan obtained from a loan app. In 3 months, approach your bank for a loan just for the fun of it. Do well to report your experience.

Ciao

ololololo:



No need to trade insults with you. Just default on a loan obtained from a loan app. In 3 months, approach your bank for a loan just for the fun of it. Do well to report your experience.

Ciao

Oga. You're not arguing with a novice.

4 years banking experience.


4 years experience in money lending.


There is practically nothing you can tell me about money lending..

ololololo:



No need to trade insults with you. Just default on a loan obtained from a loan app. In 3 months, approach your bank for a loan just for the fun of it. Do well to report your experience.

Ciao

lol how any illegal organisation will report to registered agencies like you said still baffles me. Like what credibility and proof will they use to lay such claims? Do you think anyone can just report and they'll act on it without investigations? Lol.

Only organisations like branch, carbon, very few others and banks can do such and it will take a long time before they report their customers.

Make Lcredit, Newcredit and the remaining fraudulent ones talk say em wan report, lmao. Who go front for them? How em wan issue am sef? Under which condition? Who born dem? Wey em headquarters?

They just keep playing on my people's intelligence/ignorance. "We will report your bvn and freeze your accounts" LMAO. Bank sef no fit use ur bvn do anything apart from identification.

mhiztaNexy:
lol how any illegal organisation will report to registered agencies like you said still baffles me. Like what credibility and proof will they use to lay such claims? Do you think anyone can just report and they'll act on it without investigations? Lol.

Only organisations like branch, carbon, very few others and banks can do such and it will take a long time before they report their customers.

Make Lcredit, Newcredit and the remaining fraudulent ones talk say em wan report, lmao. Who go front for them? How em wan issue am sef? Under which condition? Who born dem? Wey em headquarters?

They just keep playing on my people's intelligence/ignorance. "We will report your bvn and freeze your accounts" LMAO. Bank sef no fit use ur bvn do anything apart from identification.

There is nothing they can do, nor be only credit bureau, criminals reporting to credit bureaus? It's like an armed robber reporting at a police station with his true identity.

The worst they can do and the only downside is the embarrassment of sending bulk SMS to a defaulter's contacts, but if you run them 'streets', na sara (free) money be dat.

pacesetting:
Most of these loan sharks are criminals. The government needs to look into their activities properly. Imagine one of the so-called loan sharks worker called me yesterday, complaining about one of my contacts that borrowed money.

I called the contact later to get more info. It turned out that he borrowed 15K to pay 23k in one week. Just imagine the rip-off.

On top of that, he asked for one week extension, but was denied.

This is not how loan firms operate in other countries. Their policies, interest rates, and debt recovery methods are something else.

The activities of these loan apps are a mirror reflection of Nigerians and the economy.

Their interests rates are murderous. However, their resort to tarnishing ones image in a bid to collect overdue debt is a reflection of how difficult it is to recover debt 8n Nigeria.

If they don't use such tactics, irresponsible borrowers will never repay.

Zanzibar1:


You have tried severally to deny you work for a loan company. The joke is on you sha

Tell the loan company you work for to pay their taxes and also stop ripping off poor Nigerians with ridiculous interest rates and other charges.

You guessed right, I work for Soko loan company

Shebi you don hear wetin you dey find.

Now go and pay up the loans you owe to those loan apps

It's stronghead stubborn debtors like you that make it very difficult for small companies to get loans from commercial banks in Nigeria!

SavageResponse:


You guessed right, I work for Soko loan company

Shebi you don hear wetin you dey find.

Now go and pay up the loans you owe to those loan apps

It's stronghead stubborn debtors like you that make it very difficult for small companies to get loans from commercial banks in Nigeria!

No payment after defamation that’s the deal.

Google have started banning all of them on playstore…go verify

Alright

Kobicove:


You watch too many Nollywood movies!

Don't assume that someone who did not provide financial assistance to you will later come to beg you for help in future...things don't work out like that in real life!

You’re not very smart. What I meant was, no condition is permanent and it could be you in need. And mind you, money ain’t the only thing we might need. Try to read in between the lines.

nedekid:

And you actually believe that?
Few times I used those apps I never experienced that. How will the offer be rejected and yet one clicks the accept bottom?

I believed because recently, my pal was a victim. He had to transfer the funds asap. They are called ‘loan sharks’ for a reason.

yeyebrity:


You’re not very smart. What I meant was, no condition is permanent and it could be you in need. And mind you, money ain’t the only thing we might need. Try to read in between the lines.

You're a brainless buffoon!

I have learnt through experience that you can't go through life trying to render financial assistance to every one who asks for it especially people who borrow and never pay back just because you're afraid that you might need their help in future.

If you don't know how to say no to some requests then you're an idiat!

yeyebrity:


I believed because recently, my pal was a victim. He had to transfer the funds asap. They are called ‘loan sharks’ for a reason.

That's because your close circle of friends comprises of only deadbeat broke people!