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NewLogicalMind's Posts

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CelebritiesRe: D'Banj Recovers Instagram Account Days After Losing It To Hackers by NewLogicalMind: 9:33am On Dec 24, 2020
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CrimeRe: Lagos Trader Stabs Wife To Death, Cuts Both Hands Over Money by NewLogicalMind: 9:55pm On Dec 04, 2020
angry
BusinessRe: How Sokoloan Dragged Their Customer To Retrieve A 5k Loan by NewLogicalMind: 1:19pm On Dec 04, 2020
Chanchit:
There are many loan apps one can turn to for quick cash when we get stranded. And they can be the last resort in times like this.

One of these loan apps is Sokoloan, though I've not heard of them until I bumped into the alterations between them and a client.

According to the story i got, the client took a loan of 5,000 to pay 7,200 in ten days.

Things however went sour When the client couldn't pay up after ten days.
The client however tried reaching out to get more time to pay up but Sokoloan won't have any of it. If you notice, the harrassment started immediately the loan was due. According to screenshots I got from the client, this is not the first time he's borrowed from them of which he has been able to repay.

Sokoloan however went ahead to start calling everyone on his contact list, telling them their client is a chronic debtor, they also made lots of threats.
At least fifteen people have called the client asking what's going on.

The loan has however being paid on full, Sokoloan is yet to acknowledge the payment. I will keep you updated.

Whenever you want to take a loan, be sure of where you are getting it from, or you might just be setting yourself up for a serious embarassment.
The method Sokoloan uses is the best method for a country like Nigeria. Nigerians will borrow money from you then when it's time to pay back they will manufacture all manner of excuses to avoid repaying the loan! angry
BusinessRe: I Need An Education Loan For My Masters In The UK by NewLogicalMind: 2:58pm On Nov 14, 2020
lymelyte:
This is really serious.. But they ought to be educational loans now.. Why is nigeria like this? What kind of a country is this for godsake?
The process of giving out loans by banks and finance houses is a business in itself and businesses are set up to make profit.

Only a foolish person would willingly give out a loan whose collectibility is highly doubtful leading to losses for the company.

The poor attitude of Nigerians to loans repayment is the main reason why banks do not give out such loans!

You as a person (lymelyte) may consider giving the loan to OP but I can assure you once he leaves the country your chances of recovering the loan is less than 5% even if he becomes a multimillionire tomorrow after his studies abroad! That's how terrible Nigerians are!
BusinessRe: I Need An Education Loan For My Masters In The UK by NewLogicalMind: 2:49pm On Nov 14, 2020
Mustardsandteal:
Dear Nairalanders,

Please does anyone know who or where I can get a loan for my Masters in the UK? I got an Admission for January 2021 intake and the only thing limiting me now is finance.

I intend to pay back in installments after I settle fully in the UK. That is, start paying back 3/4 months after I arrive the UK. I have been to many financial houses in Lagos, asked a few people all to no avail. The financial houses I went to said they don't give Education loans, only Business loans or property loans.

Your help will be appreciated. I have all my personal documents for verification.
The fact is that obtaining a masters degree from a university does not necessarily guaranty that you will get a job or that you will get a high paying job for that master and if that does not happen then it means there is a likelihood that you will not repay the loan...then add all these to the fact that an average Nigerian will not repay a loan if he has his way.

Loaning money to a Nigerian who is about to leave the country is a very high risk investment that's the reason why people shy away from it
BusinessRe: Don't Use SOKOLOAN, I Repeat Stay Away From Sokoloan by NewLogicalMind: 1:18pm On Nov 02, 2020
Dashdost:
I paid my loan twice and I yet to get a refund of my money, they stopped picking my calls. they are fraudulent and crass, they don't even have an office address, or a customer care direct line, the Loan interest is ridiculously high, client treatment is terrible.
how in the hell did they get a license?
Sokolaon's tactics is the best way to deal with Nigerian debtors!

When you do the business of providing unsecured loans you will understand better
InvestmentRe: Any Real Loan Company In Nigeria? by NewLogicalMind: 2:29pm On Oct 07, 2020
benodic:
Same question I was being asked by many finance companies. Is Lagos the only city in Nigeria?
Lagos is not the only city in Nigeria but most finance companies are based in Lagos

In case you do not know most of these loans are not collaterised which means if the borrower fills in fake contact information and thereafter decides to go A.W.O.L you probably may never recover your funds and I can tell you from experience that in Nigeria when people who are in a far location borrow money from you the likelihood that they will default is over 80%!

It is therefore cheaper and less risky to give unsecured loans to people who are based in Lagos because it will be much easier for you to verify whatever claims they made in their application forms before you disburse funds.

People in Lagos also default but debt recovery drive is cheaper unlike if it's outside Lagos where in addition to transport expenses for the team you also have to worry about providing accommodation, out of station allowance and cost of getting policemen from that jurisdiction.

Giving an unsecured loan to a person in another state in Nigeria is a very bad idea!
FamilyRe: Help My Husband Lacks Self Control by NewLogicalMind: 10:46pm On Oct 04, 2020
virtuouswoman77:
Pls how do I handle this problem of hubby that does not have self control when it comes to alcohol?

He drinks too much and sometimes messes the bed up with urine.

I have talked to him still no change pls I need practice solutions that will make him stop because he is the type that doesn't take things serious unless it gets to him and this his behavior is making me regret my marriage to him.
Is there any underlying reason why he started drinking heavily? For instance did he just loose his job or is he managing stressful situation.

If it's not a new thing then it means you probably saw it during courtship but thought he would change after marriage...if that's the case then I have bad news for you.

He is not likely to change!
CelebritiesRe: Bright Chimezie Celebrates His 60th Birthday. Shares Family Photos by NewLogicalMind: 3:24pm On Oct 01, 2020
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BusinessRe: Howo Trucks Needed For Immediate Contract Jobs by NewLogicalMind: 1:18am On Sep 29, 2020
Kestar12:
We are still open for Partnership with Trucks/Vans owners and Investors(those willing to buy trucks or vans for us to manage for them for Monthly or Bi-weekly payment
Do you have tippers for lease in Ibadan?
BusinessRe: Please Help: How Safe Are Loan Apps? by NewLogicalMind: 1:13am On Sep 29, 2020
Wizzyonyxphoenix:
Please guys, I just wanted to know if it is safe to use loan apps. My mum applied for a loan with Branch, and her blood pressure is almost at breaking point since she gave them her BVN number. They haven't even given her the money yet since we applied almost an hour ago. Please guys, help save a brother here before she cries my ears of and faints!!!!
It's not possible to withdraw money form your account with just your BVN
TV/MoviesRe: BBNaija Winner, Laycon, Thanks His Family, Fans And Voters For Their Support by NewLogicalMind: 3:16am On Sep 28, 2020
DebbieBianca:
#Itslaycon expresses his gratitude to his family and of course, the icons that brought home here.
#BBNaija #BBNaijaFinale



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