sisisioge:


Wow! Those text were really bad. I guess the new generation fintechs have gotten ruthless with their recovery. Back then they weren't that aggressive with the recovery, they'd rather plead for the repayment. But if you look at the matter from these fintechs' point of view, people owe them in scary millions that would make you wonder if the debtors have conscience at all. To make matters worse, some are so determined with their default that they would even insult the agents, discard their sins or even stop using their bank accounts. No wonder they decided to shame them like that. I guess desperate times call for desperate measures. Imagine a company having over 500million in over due loans to a multitude of 5k crooners...na war o.

Sanchez01:

I wouldn't refer to those guys as the proper fintechs we all know. That's just LAPO 2.0. They evolved and thought to go digital rather than connect with market folks. Unfortunately, their account officers double as recovery officers which is why they are ruthless in recovering their loans.

Unfortunately for cash strapped folks, LAPO has up to four active apps and the approach is the same when someone borrows from either. I keep getting embarrassing texts from them over one of my contacts who borrowed from them.

akeeng:

How do they get defaulter phone contacts?

Ivebeenafool:


I didn't put up this post to ask for help, it has passed that level.
I'm not here to scam anyone, below is a screenshot of my apps, the loan apps are listed there.
The bottom line is that I've messed up and there seems to be no remedy.

sisisioge:
Wow! How much was the initial loan? They do 7 days, 14 days, or 1 month. So since the first matured before your salary and you borrowed from another, why didnt you offset with your salary? Hmmm...anyways, I once managed a loan recovery contact centre for two fintechs and here is how it works....

1. They wouldnt give you a first timer any large loan. They start in bits based on the strength of your recharges, age of your sim and its contacts, strength of your social media, type of device, your activities on the device, etc. They wont tell you they are sizing you up when they ask for permission to check your device and facebook so they could profile how much credit you're worth.

2. Once they are done, they will usually offer you less than 10k since all the collateral they have on you are just your sim and facebook contacts....I'm an heavy recharger and my profile didnt even merit me up to 10k. Any fintech that offers you more as a first timermust get tangible collateral such as your Salary accounts, letter from your coy, etc.

3. Again, they offer you for a short term and usually ask that you let them debit you automatically once the tenure expires.

4. If you do not pay or fund your account at the due date, they will start calling you to cajole you to pay. Afterall, you're still a customer. This will continue until they resort to calling one or two of your important contacts to beg you to pay.

5. If you still refuse to pay after 90 days, they will simply report you to credit bureau before writing it off as bad debt. This will hurt your future access to loans, some travels and some jobs.

So how did you get to 700k given this scenario? No fintech will borrow you that amount based on the strength of your contacts alone. Besides, even if this is true why would you kill yourself? Highest that could happen is number 5 above which is still better than suicide. Good luck.

Ivebeenafool:


I didn't put up this post to ask for help, it has passed that level.
I'm not here to scam anyone, below is a screenshot of my apps, the loan apps are listed there.
The bottom line is that I've messed up and there seems to be no remedy.

Iphone5:


before borrowing, their apps do request for some permissions and you advised to grant them or else they won't borrow you (that's how they are able to access your contacts, sms, call logs & the rest)

akeeng:

Oh! I get it now. Their apps requests to access contact while you are applying for the loan. Damn!

Omo, those messages are really damaging. The federal government should do something about it.

akeeng:

Oh! I get it now. Their apps requests to access contact while you are applying for the loan. Damn!

Omo, those messages are really damaging. The federal government should do something about it.

iiamharkinwaley:
Sorry man


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Ivebeenafool:
Good evening lalsticlala and nairalanders,

I hope this makes front page.

Sometimes last year, I had an accommodation issue and I needed money to bail myself out of it,I called friends to borrow from bit none was forthcoming, so I delved into the world of loan sharks and that was where my life was ruined without any hope or remedy.
I have a job and I earn over 100k per month, the money I borrowed initially was what I could have paid comfortably without bathing an eyelid, but the problem is that these fintech and loan sharks can only give you a loan to pay back in one week with outrageous interests. When the loan I took matured, I didn't have money immediately to offset it because it was not the end of the month, I now borrowed from another loan app (these apps are designed in such a way that you must grant them access to your contacts, so that if you default for even a day, they will pull your contacts and send damaging messages to your contacts). So it has now become a continuous cycle of borrowing from one loan app to pay another to the extent that I'm now owing about 700k in loans, that's how bad and vicious it has become, everyday of the week, I receive one threatening message or the other and being a staff of an organisation, I try as much as possible to pay so that it doesn't get to my bosses in the office and now I'm in a quagmire, all efforts to come out of this have proved abortive, my family keep asking me what is wrong with me, the house I rented is a out to expire and I have no hope of renewing the rent because of loans with outrageous interests. I've sold the little property that I was able to acquire, all in a bid to get out of it but all to no avail.
This evening now, they are going to send damaging texts to my contacts but I don't care anymore, 'cos I'm going to end it all (20 tablets of diazepam 5mg will do the job and it will be painless, I will only sleep and wake up in eternity) I only pity my poor mum.
Please nairalanders, learn from bad experience, no matter what you are going through, never borrow money from any loan app, even if you are so sure of paying, something might go wrong and you will end up worst than ever.
My friends don't even pick my call anymore, because they know it's money I'm going to ask of, I'm tired and worn out, I had to let the girl I want to marry go because I can't drag another person's daughter into my mess, I'm no longer mentally stable, at a point my boss noticed and asked me why I always lose concentration, I just told him I'm fine.
Lalasticlala please take my post to front page so that others can learn from me.

Nozino:


Why? Why take up a loan you can’t pay? Didn’t you read the terms and conditions? This is someone’s means of livelihood. Don’t joke with it.

Iphone5:


People should stop borrowing too

akeeng:

I understand but that is still a very bad message to send. Very damaging and shouldn’t be allowed. Defaulting isn’t same as defrauding


Even the almighty United State of America borrows. So?

Nozino:



You’re saying this because it isn’t your source of livelihood on the line. If you’ve borrowed money to a friend before, you’d understand how difficult it is for Nigerians to pay back their debts and for the record, this OP is a liar. Most likely a scammer looking for cheap compassion.

akeeng:

How do they get defaulter phone contacts?

dobnina:

Scam
Scam
Scam

sisisioge:


Wow! Those text were really bad. I guess the new generation fintechs have gotten ruthless with their recovery. Back then they weren't that aggressive with the recovery, they'd rather plead for the repayment. But if you look at the matter from these fintechs' point of view, people owe them in scary millions that would make you wonder if the debtors have conscience at all. To make matters worse, some are so determined with their default that they would even insult the agents, discard their sins or even stop using their bank accounts. No wonder they decided to shame them like that. I guess desperate times call for desperate measures. Imagine a company having over 500million in over due loans to a multitude of 5k crooners...na war o.

sisisioge:
Wow! How much was the initial loan? They do 7 days, 14 days, or 1 month. So since the first matured before your salary and you borrowed from another, why didnt you offset with your salary? Hmmm...anyways, I once managed a loan recovery contact centre for two fintechs and here is how it works....

1. They wouldnt give you a first timer any large loan. They start in bits based on the strength of your recharges, age of your sim and its contacts, strength of your social media, type of device, your activities on the device, etc. They wont tell you they are sizing you up when they ask for permission to check your device and facebook so they could profile how much credit you're worth.

2. Once they are done, they will usually offer you less than 10k since all the collateral they have on you are just your sim and facebook contacts....I'm an heavy recharger and my profile didnt even merit me up to 10k. Any fintech that offers you more as a first timermust get tangible collateral such as your Salary accounts, letter from your coy, etc.

3. Again, they offer you for a short term and usually ask that you let them debit you automatically once the tenure expires.

4. If you do not pay or fund your account at the due date, they will start calling you to cajole you to pay. Afterall, you're still a customer. This will continue until they resort to calling one or two of your important contacts to beg you to pay.

5. If you still refuse to pay after 90 days, they will simply report you to credit bureau before writing it off as bad debt. This will hurt your future access to loans, some travels and some jobs.

So how did you get to 700k given this scenario? No fintech will borrow you that amount based on the strength of your contacts alone. Besides, even if this is true why would you kill yourself? Highest that could happen is number 5 above which is still better than suicide. Good luck.

sisisioge:
Wow! How much was the initial loan? They do 7 days, 14 days, or 1 month. So since the first matured before your salary and you borrowed from another, why didnt you offset with your salary? Hmmm...anyways, I once managed a loan recovery contact centre for two fintechs and here is how it works....

1. They wouldnt give you a first timer any large loan. They start in bits based on the strength of your recharges, age of your sim and its contacts, strength of your social media, type of device, your activities on the device, etc. They wont tell you they are sizing you up when they ask for permission to check your device and facebook so they could profile how much credit you're worth.

2. Once they are done, they will usually offer you less than 10k since all the collateral they have on you are just your sim and facebook contacts....I'm an heavy recharger and my profile didnt even merit me up to 10k. Any fintech that offers you more as a first timermust get tangible collateral such as your Salary accounts, letter from your coy, etc.

3. Again, they offer you for a short term and usually ask that you let them debit you automatically once the tenure expires.

4. If you do not pay or fund your account at the due date, they will start calling you to cajole you to pay. Afterall, you're still a customer. This will continue until they resort to calling one or two of your important contacts to beg you to pay.

5. If you still refuse to pay after 90 days, they will simply report you to credit bureau before writing it off as bad debt. This will hurt your future access to loans, some travels and some jobs.

So how did you get to 700k given this scenario? No fintech will borrow you that amount based on the strength of your contacts alone. Besides, even if this is true why would you kill yourself? Highest that could happen is number 5 above which is still better than suicide. Good luck.

Curious345:
Please can we see your picture ..

You shouldn't be ashamed of showing yourself since your back is already againt the wall ..

Post your pics here and get 100k from me direct

acesboy:
Dear op I beg you in the name of God ���. No matter what ever you are passing through in this life. Just know that you can never be the first or the last person to go through it. There's always light at the end of the tunnel

Ishilove:
This past Wednesday, they embarrassed the hell out of my colleague who was owing them 40k. They sent this text message below to all her contacts, myself included. In an instant her phone started ringing as all her contacts reached out to her to know what happened. Some of them even called me and the other staff to hear gist.

By the end of the day she was an emotional wreck. The embarrassment was something else.

Educationalserv:
i taught u where commiting sucide

Volkswagen90:
Op abeg no waste that Diazepam,i only need 5mg of it mixed with something so i can feel alright tonight and sleep like no problem,pls how can i get?





Me that they have sent their usual messages to my contacts because of 10k,huh i send them again and see shame no dey shame me again,

Julianaa:
instead of looking for diezepam or whatever, try selling your phone to pay the loan
Take a vacation or break for 1 week

You will be fine

akeeng:

How do they get defaulter phone contacts?