₦airaland Forum

FG should as well sanction any bank partnering with them especially Wema bank.

Emperor88:
It is impossible to collect loan from 4o fast loan companies....If you have one active loan you are yet to pay, your account will be reported and flagged no other fast loan company will be able to lend you money. You can't borrow money without putting your account details. Ask anybody who asked and outstanding loan to pay to try and borrow from another loan company then you will see that it is almost impossible. So your story get as e be.

That means you know nothing about how loan sharks operate in Nigeria,one can even borrow up to 60 sef.Some of the loan agents will even advice you to borrow from another app to pay them.

MrFollowFollow:
Who told you that their operation is not recognised by law in Nigeria?

Since the raid by the government agency did you hear that any of the operators was arrested by the government?

The truth is that running this type of business in Nigeria requires iron hand

Then why is the government after them?

maasoap:
Trust me, shaming is the most common single reason why many defaulters would never pay again. I mean, after shaming them within three days of defaulting, why would they pay again because that's what they dread most? Shaming defaulters without exercising patience is highly counterproductive. Some defaulters would even plead with them before the due date and yet loan apps would still go ahead with their reputation damaging texts.

You are right,they don't know more money would be lost using that way,infacts Nigerians are used to it already!

Their operation is not recognised by the law of the land,they are the Criminals.

Buhari and the top Security Officers should resign period since they have faid to protect the lifes and properties of the Citizens.

lewa:
When you borrow money, pay it. If you know you don’t have the capacity to borrow, don’t do it.

These companies are mining data. There’s one or more credit bureau in Nigeria now. They will report you to those bureaus. You will not be able to borrow any more ever again. Do not throw your life away. Think of the future. Once blacklisted, you are done.

You can borrow small amounts that you are can repay back easily and then ask for more.

Why throw all that away?? There’s no Grace with a borrower who refuses to pay back. No Grace at all.

Which credit bureau?They are not recognised by Nigeria Laws,meaning they are operating illegally, so forget that statement of reporting to credit bureau.

Elucidate321:
The government is failing, the judicial system is failing, law enforcement is failing, and from most of the comments I'm reading here, the religious system has already massively failed. See the level of vile in people's hearts, justifying their wickedness, despite the insane number of churches, mosques and shrines.

Oga stop saying this, are they registered with the authority of the land,between the OP and them is who a Criminal? FG has called out to them severally to do the right thing by registering with CBN,yet they choose not to.

People should stop patronising loan sharks but they won't listen, see the results-depression, suicidal thoughts, character assassination,and one may end up poor in life.

OP remain strong ,suicide is not an option.The worst they will do is to send defamatory messages to your contacts. But try to pick their calls and also reply their messages when they contact you. Ignoring their calls and messages will make things worse. Lastly ,at this point of your life , you need to double your hustles and cut down your expenses until all loans are cleared. Again,nah loan you owe you nor kill persie.

Can one easily sell at any time?

Nice Op,thanks

Lol funny enough one of their agents sent a link on WhatsApp to click if I would like to borrow. I didn't waste time to block him immediately. They even wrote low interest rate and long-term, I am surprised to see over 30% in just 7days lol,evil loan sharks!

This is really sad,if one should find out,the said amount loaned might not be up to 50k

Same measures should be carried in Nigeria, the owners of these loan sharks should investigated and jailed for live!

Dagrace01:
Spot on!
U access a loan app, read their terms and conditions, know their interest rate and due date and went ahead to apply for the loan..
Isn't it an act of cheating when u started complaining about the things u have read when the due date arrive?
I've seen people who are so dogged about not paying their loans back, not that they don't have but they just wanna cheat.
Thousands of youths are reasonably employed by these loan companies, I wonder what their fate will be if these companies are shut down, instead I think some standards and regulations should be given to these companies instead of outrightly shutting them down..

What stop them from doing the right thing by operating legally,imagine a loan firm with over 800 staff yet is not registered with CAC,no physical address, no paying of tax,imploys dubious loan recovery methods by name shaming defaulters. I abeg FG did the right thing,those employees affected should look for a befitting job after all they have been hiding their identity to avoid public lynch.

YourFavorite21:
I'm facing the same thing too. But my own case is that I'm a student, and I needed money to start my project, I don't want to bother my dad, he Don try for me because he just paid my school fees of 160k, plus my Lodge rent and textbook money too, and he's also paying my younger sisters school fees, (100 level) too, plus my other siblings, now, it's time to payback and I don't even have any means, as I've used the money to pay for my project.

Better let your dad know about your situation than to go and borrow from loan sharks,nor use your hand dig your grave!

BluntTheApostle:
Google will soon take it down.

The FCCPC and the other agencies have said their next mission is to get Google involved.

Maybe you don't know it, but these apps have also broken many of Google policies, and Google will only be too happy to pull them off with the speed of lightning.

Same with Apple for the Apple store.

Ok good

BluntTheApostle:
Sokoloan is there. But they now go by many names, including Go Cash and Fast Money.

Their office has been locked up as we speak.

Their workers had the audacity to stop the agencies involved in the sting operation from leaving, but the police fired into the air, and cleared them.

All their equipment have been seized, and their office locked up.

The FCCPC are in collaboration with NITDA, ICPC, and the Nigerian Police.

Bit their app is still very much active?

752hub:
Is this not stupid so are we encouraging the defaulters to continue to default. Do you know how the banks got the money, its other peoples money. Instead of govt to empower the banks more to be able to collect their money. If you cant help them to recover their loan why not just leave them....

Who told you they are banks in Nigeria, they are illegal online app with no CAC registration certificate and physical address.

They can finally feel the heat too,just like the way they caused their clients pains and depression!

Obagofixxy:
I nearly one collect loan that year from these people ohhhh, but thank God I no try am, very wicked set of people

You made the right choice bro.Those people are heartless!

Good, finally. People lost their lives and jobs due to their inhuman mode of loan recovery .

Efewestern:
He was in Effurun for a burial, so it's normal to pay a visit to the city's ruler.

Ok nice

But Efewestern what was the purpose of the visit?

Long live the King,long live Uview Kingdom!

DontBullshitMe:
SCAM SCAM SCAM.

No one will message you for the investment opportunities.

Where in my write up did I state that someone should message me concerning investment opportunities? I don't just understand how some Nigerians reason,it just so pathetic.

oldienavie:
OP weldone o, hope you have got people pinging you for information on the supposed business.
You gimmick is great, but not great enough to fool people who have brains like myself.

Your story is concocted and the aim of this thread is to get people to message you in your dm so that you can now dupe them...

For those who wants to ping him for info on the said business, your money will loss .

May God have mercy on you!

remsonik:
It's good you told her the truth, it may be hurting to her but don't worry God will console her. Put her also in your prayers, God will draw both of you back together. You did the right thing by telling the truth, you shall continually be getting blessed and favored in life.

Ok,thanks!

mitchelle16:
You did the right thing

Thanks dear,I feel good with your comment!

Dear Nairalandlers ,
I am currently in a situation where part of my mind tells me what I did was the right thing while the other part feels otherwise.This is how it came about,I have a friend from China who introduced me into an online investing platform. First I was skeptical about it but with time I keyed in due to her motivating words.Ever since I started the investment, she always checked on me to see how far I had gone with the investment.Atimes she would asked about my daily profits and other important stuffs.Each time I told her about my profits and compounding interest on my capital, she would feel excited.She's excited because when ever I made profits,she too also gained due to refferer bonus.Apart from that,we both promised each other that by June this year we will withdraw part of the investment and use the money for vacant in other country. Ever since then she has been protective about her investment because of the promised we made to each other.This where the problem lies,last week I was in a serious financial mess,I needed some cash badly.The money in my account was not enough to meet up the financial need,and what I needed the money for was urgent.So I decided to use part of the investment to solve the problem.Few days after that ,another financial need came ,also very important. Omo I was just confused!I looked for money everyhere ,but all to no avail!I then decided to liquidate the remaining part of the investment, hoping that I would quickly go back to the investment when I have money. Unfortunately this morning my friend from China,chatted me up on WhatsApp as usual to find out about the state of the investment. These are her words "How much profit have you made today "? At first when I saw the message I didn't know what to tell her because I feel she would be disappointed to know that I was no longer in the investment. Then part of me said I should just quote any figure and tell her that's the profit I have made for today.Now since the beginning of this year, I have been trying to amend my relationship with God,telling lies is one of the major thing I told myself not to do this year,and God has been faithful to me regarding that.Again I also weighed the consequences it would cause by telling her the truth.I feel by telling her the truth, she might feel a bit disappointed.But after much thought, I finally messaged her via WhatsApp regarding the whole truth,ever since I sent her the message she has not replied me even when the message has shown read . Did I do the right thing by telling her the truth, or I should have just told a white lie to keep our relationship going?Again,do you prefer to tell lie rather than the truth in other to avoid someone or yourself being hurt?

Mod please help push to front page, thanks!

OK