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Loan Sharks Persist With Cruel Recovery Practices - Business (2) - Nairaland

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Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink / Avoid Loan Sharks, Leverage On Microfinance Banks, Emefiele Tells Nigerians / How To Stop Loan Sharks From Getting Your Phone Contacts (2) (3) (4)

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Re: Loan Sharks Persist With Cruel Recovery Practices by magictonic(m): 5:41pm On Nov 11, 2022
NEVER borrow money from Loan Apps.

3 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by jaxxy(m): 5:43pm On Nov 11, 2022
loan sharks or lone sharks? tongue
Re: Loan Sharks Persist With Cruel Recovery Practices by BadEnglish(m): 5:43pm On Nov 11, 2022
lordm:
don't you have friends or family members to borrow from. Did you read their terms and conditions before borrowing. Blame yourself first. Upon all the stories you have heard about loan sharks, you still went ahead to borrow from them. You people never learn

Be like sapa never hold you b4, wey even u go dey shame to ask your family member or friends

9 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by FireUpNow(m): 5:43pm On Nov 11, 2022
Those guys are useless set of people. Anything loan in Nigeria is a deadly move.

3 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by Omotosho1090905(m): 5:44pm On Nov 11, 2022
The story long no be small

1 Like

Re: Loan Sharks Persist With Cruel Recovery Practices by SerikiFulani(m): 5:45pm On Nov 11, 2022
A certain guy I know collected almost Three million naira from almost 60 loan apps.....He had a very good credit score and he always repaid his loan immediately he collected it

They kept on increasing the amount he could borrow till he borrowed massively from almost 60 apps and got more than Three million naira

He used the money in getting a car for Uber business grin

According to him,he used fake contacts,a new android phone and edited pictures of him.

12 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by lordm(m): 5:45pm On Nov 11, 2022
BadEnglish:


Be like sapa never hold you b4, wey even u go dey shame to ask your family member or friends
Bros, he better make you face shame for house than to face damaged reputation outside

6 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by vickydevoka(m): 5:45pm On Nov 11, 2022
lordm:
don't you have friends or family members to borrow from. Did you read their terms and conditions before borrowing. Blame yourself first. Upon all the stories you have heard about loan sharks, you still went ahead to borrow from them. You people never learn
No family or friends borrow money except is dash. I dashed my friend 30 thousand and we are still friends. The moment I gave him 300k we became enemies. Borrow has its own spirit. Never borrow someone you love money unless is something you can forfeit or better still dash him or her

9 Likes 2 Shares

Re: Loan Sharks Persist With Cruel Recovery Practices by mrsage(m): 5:46pm On Nov 11, 2022
Sad
Re: Loan Sharks Persist With Cruel Recovery Practices by hedonido: 5:46pm On Nov 11, 2022
Loan sharks anywhere in the world are brutal and unfriendly. If you can't play by their rules, then don't borrow from them.

Money matter no be play play matter.

10 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by b0rn2fuck(m): 5:48pm On Nov 11, 2022
But people are not force to take loan nah

1 Like 1 Share

Re: Loan Sharks Persist With Cruel Recovery Practices by lesbiconverter: 5:48pm On Nov 11, 2022
lordm:
don't you have friends or family members to borrow from. Did you read their terms and conditions before borrowing. Blame yourself first. Upon all the stories you have heard about loan sharks, you still went ahead to borrow from them. You people never learn
My friend, some people will rather watch you starve than lend you money. Just pray you have good friends and family

11 Likes 1 Share

Re: Loan Sharks Persist With Cruel Recovery Practices by sylve11: 5:49pm On Nov 11, 2022
Federal government should scrap all loan sharks. angry cool
Re: Loan Sharks Persist With Cruel Recovery Practices by annisy(f): 5:50pm On Nov 11, 2022
And the wickedness of this current government don't forget to add that next time
successmatters:
This happens because of the evils of past governments.

Vote Wisely.

2 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by Johndevmark: 5:51pm On Nov 11, 2022
collected about 320k from different loan apps and aint paying shit even if i get free money.

them don call me tire

9 Likes 1 Share

Re: Loan Sharks Persist With Cruel Recovery Practices by frankson1(m): 5:51pm On Nov 11, 2022
NotKnown:
They keep doing that again and again cos they know that there's nothing the government will do. Highest they will go behind and bribe them and the enforcers look the other way.

If govt was serious, just as they banned Twitter effectively they can also ban them, place a lein abi na lien on the accounts or PND on the accounts of the loan sharks. Cos I am. 100% sure people who collect loan from them pay back through Nigerian banks.

This is typical see finish. It's a slap on the face of the government. They just told them to the face that there's nothing government can do about it.

These days they have started printing fliers obituary fliers and print fake HIV status for defaulters just to shame them the more.

That's more than cruel. It's now barbaric.

The only thing is that if you have collected from them and then they shame you, don't ever pay back. That's the highest they can do.
All that threat to come to your house is a lie. All that arresting you and taking you to court na wash 100% cheesy

If you can endure and hold for 30 days they will give up and count it as a bad loan. However, don't collect again.




It's a bit surprising that you didn't mention customers who go to borrow money and refuse to pay back.

If borrowers don't pay back how will they have to lend to others

6 Likes 1 Share

Re: Loan Sharks Persist With Cruel Recovery Practices by sylve11: 5:52pm On Nov 11, 2022
SerikiFulani:
A certain guy I know collected almost Three million naira from almost 60 loan apps.....He had a very good credit score and he always repaid his loan immediately he collected it

They kept on increasing the amount he could borrow till he borrowed massively from almost 60 apps and got more than Three million naira

He used the money in getting a car for Uber business grin

According to him,he used fake contacts,a new android phone and edited pictures of him.

This is so so bad. I am currently having with Newcredit over a loan i did not borrow.

i guess the person who used my name did what your friend did.

IThe Nigerian government bad? Try her citizens! embarassed cool

6 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by annisy(f): 5:52pm On Nov 11, 2022
Most times when you need financial help then you will realize that you don't have friends and family... That you are all on your own!
lordm:
don't you have friends or family members to borrow from. Did you read their terms and conditions before borrowing. Blame yourself first. Upon all the stories you have heard about loan sharks, you still went ahead to borrow from them. You people never learn

12 Likes 2 Shares

Re: Loan Sharks Persist With Cruel Recovery Practices by Prokaryote: 5:53pm On Nov 11, 2022
lordm:
don't you have friends or family members to borrow from. Did you read their terms and conditions before borrowing. Blame yourself first. Upon all the stories you have heard about loan sharks, you still went ahead to borrow from them. You people never learn
No be everybody get people to borrow from, hardship has really drive many into taking this step.

10 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by Isobug: 5:53pm On Nov 11, 2022
TechCapon:
It's a lie, Nigerians borrow without intention of paying back. Loan apps now have a feature that allows you to extend your payment date if you can't afford to meet the payment deadline. Nothing stops you from extending your deadline instead of allowing yourself to be embarrassed. Some of my contacts have been embarrassed by loan apps shame dey catch me
Three third of loan Apps do not have extension feature. Even those that have it, it will be better for you to pay all than pay such ridiculous amount all because you want to extend your loan. Almost half of the loan amount or even more in 6 days , not even just 7days as you people claim

10 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by Cuntface: 5:54pm On Nov 11, 2022
lordm:
Bros, he better make you face shame for house than to face damaged reputation outside


Honestly, people no longer care. Once you send such messages to contacts, they already know say na loan you collect, you no kill person.
Nobody cares

20 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by bigcee(m): 5:56pm On Nov 11, 2022
Cuntface:



Honestly, people no longer care. Once you send such messages to contacts, they already know say na loan you collect, you no kill person.
Nobody cares
Abi o

3 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by frankson1(m): 5:57pm On Nov 11, 2022
SerikiFulani:
A certain guy I know collected almost Three million naira from almost 60 loan apps.....He had a very good credit score and he always repaid his loan immediately he collected it

They kept on increasing the amount he could borrow till he borrowed massively from almost 60 apps and got more than Three million naira

He used the money in getting a car for Uber business grin

According to him,he used fake contacts,a new android phone and edited pictures of him.





In your quiet time, has it ever crossed your mind why most people either ask themselves or their sympathisers "WHY IS THIS HAPPENING TO ME" type of questions undecided

11 Likes 1 Share

Re: Loan Sharks Persist With Cruel Recovery Practices by emmaella: 5:57pm On Nov 11, 2022
I have been on this platform since 2012 yet Mr. Seun and his mods have kept me on insufficient permission to post a thread. I have sent them mails and messages all to know avail. I don't know if it take light years to secure approval to make threads here. Please if there is a way to exit from here someone should please share it with me i need to leave this platform as I don't know it's use when i cannot post a thread of concern seeking help or opinions that might be helpful. Soon they will accuse you of spamming
Regards

1 Like 3 Shares

Re: Loan Sharks Persist With Cruel Recovery Practices by DadaHammed: 5:57pm On Nov 11, 2022
ecolime:
Crazy Loan sharks VS Chronic debtors

Na God go help una settle the matter.

But make we talk true, most Nigerians lack the main ingredient in credit which is character. Why borrow money with no intention of paying?


LOL... cheesy
Re: Loan Sharks Persist With Cruel Recovery Practices by Phock2sweet: 5:58pm On Nov 11, 2022
lesbiconverter:
Thank God I'm free from the thieves
wink

Now everyday they call and beg me to borrow money from them grin
The interest they charge is so daring because they know you are desperate.
I cried the last time I paid my whole salary and was still owing.
It's like working for some people sitting and waiting for the money.
I had to sell my valuable to clear my debt.
No matter how much I block them now, they still find a way to get their call through.


My advice : never patronize the loan app again because the debt will keep growing
whats d name of the apps sir?
Re: Loan Sharks Persist With Cruel Recovery Practices by Autossolutions: 5:59pm On Nov 11, 2022
Thesaint141:
As I type right now Money in Minutes just debited my 16400 just because of 7k
how
Re: Loan Sharks Persist With Cruel Recovery Practices by Skillsnigeria: 6:00pm On Nov 11, 2022
Hmmm
Re: Loan Sharks Persist With Cruel Recovery Practices by lesbiconverter: 6:01pm On Nov 11, 2022
Phock2sweet:
whats d name of the apps sir?
Carbon, new credit , palm credit, fast money, them plenty. I'm using only one now not for loans but for savings. grin

2 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by Prokaryote: 6:01pm On Nov 11, 2022
SerikiFulani:
A certain guy I know collected almost Three million naira from almost 60 loan apps.....He had a very good credit score and he always repaid his loan immediately he collected it

They kept on increasing the amount he could borrow till he borrowed massively from almost 60 apps and got more than Three million naira

He used the money in getting a car for Uber business grin

According to him,he used fake contacts,a new android phone and edited pictures of him.
Ah! That guy is Hushpuppi trainee and very wicked.

6 Likes

Re: Loan Sharks Persist With Cruel Recovery Practices by ALLNIGERIANSMAD(m): 6:01pm On Nov 11, 2022
TechCapon:
It's a lie, Nigerians borrow without intention of paying back. Loan apps now have a feature that allows you to extend your payment date if you can't afford to meet the payment deadline. Nothing stops you from extending your deadline instead of allowing yourself to be embarrassed. Some of my contacts have been embarrassed by loan apps shame dey catch me
shame dey catch you because you are a Thief defrauding people in the name of giving Loan, me I only collect Loan to chop chicken and I will never pay back, if you like, send obituary to 1m people. Loan shark who wants to use 7k collect 16k is also a thief.

22 Likes 1 Share

Re: Loan Sharks Persist With Cruel Recovery Practices by lesbiconverter: 6:03pm On Nov 11, 2022
SerikiFulani:
A certain guy I know collected almost Three million naira from almost 60 loan apps.....He had a very good credit score and he always repaid his loan immediately he collected it

They kept on increasing the amount he could borrow till he borrowed massively from almost 60 apps and got more than Three million naira

He used the money in getting a car for Uber business grin

According to him,he used fake contacts,a new android phone and edited pictures of him.
His BVN is the key that they will use to unlock his mischief grin

BVN is attached to only one name

3 Likes

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