Times are hard and most depressed people see loans as a way of temporarily asuaging hunger.

These loan Apps take advantage of these vulnerable people by exploiting them.

Imagine paying N7,000 interest for a one week tenure on a loan of N17,000 at Xcash.

Peledonomy:
I cannot stop lafin. My neighbour was owing swift cash. These people have called and threatened him and his contacts.

Today they just served him court order. The guy that was doing strong man is now panicking.


Make I just dey watch film

Come and serve me na Mr swift cash promoter

The way this loan app intrude privacy settings s so alarming n irritating. They all work within themselves they knw if ur owning other loan app.. Na ogu go kill una

Go tell that to the politicians

able20:
You needed cash, and you pleaded for a Loan app to rescue you and your dying family help, and they helped you.
Later you turned your back and betrayed the loan app, you are the worst robber.
Next time you guys need a free loan approach governments agencies or your state governors

U can imagine, i saw a loan of 5000 n they end up giving me 3000,the remaining 2000 was for different type of charges.. Na that 3000 I go pay nothing more..

imagrg:
Times are hard and most depressed people see loans as a way of temporarily asuaging hunger.

These loan Apps take advantage of these vulnerable people by exploiting them.

Imagine paying N7,000 interest for a one week tenure on a loan of N17,000 at Xcash.

A business that's not registered with the Government cannot give a court order or summons. Don't fidget na scam

Nice2023:




Not when he has refused to pay without giving substantial reason.

If he is unlucky,same court can remand him.

U people just make the court system look like charity homes. He can be imprisoned if care is not taken.

Those money lending apps are licenced by the same court where he is being charged,so be careful not to preempt the court.

Same court can unleash its real venom on him.

You go just open mouth waaaa dr talk rubbish. I sure say u be one of the agents

Devil1Messenger:

Lolz
Firstly, u work for Them. Go find another work bro
Secondly, the court paper is fake because i have been there
I go send u plenty fake court paper I received via mail from them. After one month again, they will start begging again for me to pay. Them even remove all the interest added and left just the money i took🤣🤣

I really use them catch cruise in 2021/2022 january😋
The last time i heard from dem was April last yr😂

My gee I borrowed money from one of them like this, but the money they stated in the dashboard that they will give me is not what I received as alert. They said 65k to pay 69k but I was credited 48k, that's 20k in one week as an interest

Deeprooted:
My friend borrowed from first Bank but failed to pay back. Since they don't call to threaten him he thought he was smart.

A year and few months later,he secured a job with GT Bank, after the training from the academy, while his colleagues were issued offer letter, he was informed by the HR to go and clear his debt.


Guess the amount?
Just 16k.

He should have know better, you don't default a commercial bank.

GTBank withdrawing 6.98 naira from my account almost every night in this economy is sickening.

Now, Calculate 6.98 naira from just 1million customers is 6million plus for almost every night.

Fraud in GTB.

Evidence as modified.

Acct:
Amt: NGN6.98 DR
Desc: USTMReF:
Avail Bal: NGN
Date: 02-Jun-2023 22:03

And I dey owe New credit 16k oooo. Wahalard!

silvoclaira:

It was you the loan app served Amebo Op, court order to do what?


BTW So many of them here in Nairaland oweing Loan shark Apps needs to be served court papers also. See them commenting below, claiming its their right to breach the loan agreement.


Debtors go and pay your loans o. You will be flabbergast when they serve you court order just like Op

Court orders and summons are not things to joke with. It may eventually land the suspect to jail if care is not taken. Whoever taught those loan apps that strategy has opened doors to mass exodus in the prison for breach of agreement and delibrately defrauding a financial institution and so on. That's if they don't include criminal matters in the summon.

Peledonomy:


Email

Na play

Agadinaagwuofe:



You are advising the young man wrongly. First, the loan app might actually be registered, secondly the court summon might be genuine and asking him to ignore will definitely get him into trouble. Lastly, his best bet is to pay cos if the summon is genuine by the time he hires a lawyer and pay legal fee that will be equivalent to the money he is owing.

Don't easily advice people to disregard some of these things especially when you haven't sighted the subpoena to know it's fake. That might get him into more trouble

They're not registered sir, it's crime itself to charge 60% interest on a month loan, talk more of 7 days

Offpoint1:

They're not registered sir, it's crime itself to charge 60% interest on a month loan, talk more of 7 days

Ok... If you are so sure.

Offpoint1:
Loan shark wey no get registration or recognize by Nigeria government na him dey serve person court order? Dey play!

Your neighbor should not worry about anything or panic. They can't do shit.


He should pay them only what he collected without single interest.

10k to payback 16k in 7 days, that's worse than robbery. I'd take the loan and pay 10.5k in 2 weeks.

So you saw 10k to 16k in 7 days, you felt it was robbery, then you decided to still take the loan with the intention of never paying or paying something different from what you agreed to. Hmmmm. I most times wish people's eyes would be opened to see the great damage they do to themselves by engaging in such acts. But well, the expected response is "nothing dey happen". No problem. The Creator of all existence can be mocked and deceived. No problem.

Elucidate321:



So you saw 10k to 16k in 7 days, you felt it was robbery, then you decided to still take the loan with the intention of never paying or paying something different from what you agreed to. Hmmmm. I most times wish people's eyes would be opened to see the great damage they do to themselves by engaging in such acts. But well, the expected response is "nothing dey happen". No problem. The Creator of all existence can be mocked and deceived. No problem.

It's called "Exploitation"

So this gist reach front page? Wow. Well, the guy don search for d address of the court, and there is no court in that location. Na one kind yeye building wey people wey dey do neolife dey use

Offpoint1:

It's called "Exploitation"

Exploitation. Nice one.
Prostitution... it's called hook up
Gluttony... it's foodie
Narcissism... it's called.... whatever
Fraud, theft, con.... it's called exploitation.
Nice one.

Like I said, since we feel life can be cheated, let us continue to just dey play.

Edoziesmart:
Lol there threaten message doesn't hold water.

I'm a proud loan defaulter and I curse any of these loan shark mushroom company each time they demand me to pay back.

Anyway they don't disturb me again for more than a year now.

How many loan apps did you default in?

MrLankeeee:


How many loan apps did you default in?

More than 5.

Edoziesmart:

More than 5.

Haha, sharp one.

Are they still disturbing you?

MrLankeeee:


Haha, sharp one.

Are they still disturbing you?

Nope except kuda that call once in a blue moon.

Edoziesmart:

Nope except kuda that call once in a blue moon.

Make sense. Na to mess them up. 🤣🤣

Deeprooted:
My friend borrowed from first Bank but failed to pay back. Since they don't call to threaten him he thought he was smart.

A year and few months later,he secured a job with GT Bank, after the training from the academy, while his colleagues were issued offer letter, he was informed by the HR to go and clear his debt.


Guess the amount?
Just 16k.

You can't escape from owing banks. You will always pay it...


But these loan apps, hmmm