₦airaland Forum

Divoc19:
I heard some Nigerians purposely borrow with the intention of not wanting to pay back.

A customer told me this. I got a little uneasy Ha some people get mind.

This is true.. Even your friends

Shokoloko:
I don't have a source, I worked in the bank of about 15 years. Part of my job was to investigate loan defaults (some as old as 20 years) and the person had totally forgotten about it. I could use anyone's BVN to pull up whatever I wanted. I just ask the marketer or account manager to tell the person to go and make payment to so-and-so before the bank could discuss further.
You see them angry and surprised saying "But this was just N2000, ten years ago" and I tell them "its no longer N2000 o!" And they will be sweating and running around like chickens

You are absolutely right..
Only experience can give one this knowledge.
I laugh at this sky high level of igNorance displayed by this op

Shokoloko:
Son, let me explain what will happen and I await any counter argument.
You dont have to repay that loan.
But this is what will happen if you don't pay.
Your name and BVN gets entered into the credit bureau as a debtor. Now if you dont have any plans to succeed and enlarge your business there is no point stressing yourself to pay.
But if you ever have a hope of going into business big time, or growing your business, that loan will hang on your neck and you will never be able to access any reasonable service from any financial institution.
Whether in partnership or Limited, the moment your BVN pops up in the bank and you or your company is trying to get any form of credit or bank guarantee, your loan will pop up and God help you, maybe by that time a small loan of N20k has become N2m and you really need a bank guarantee/reference to show your Chinese partners that your company or partnership is capable, then you will pay all plus interest accrued.
Someone said to report to NITDA. NITDA will only instruct that they should not send messages to your contacts.
NITDA cannot wipe your name out of the credit bureau of collections.

Let's try to be looking far into the future when we want to take some actions

story..those loan people are not under any credit bureau shit,apart from carbon and branch,the rest are illegal lenders.

PowerOfLove:
Over 85% of Nigerians are not economically happy people and the present government has made lives even more difficult for people as hardship is at all time high. We never had it this bad in this country before. With all these, at times, you may find yourself in a situation where you just have to do anything to survive at that period. So I was in dire need as nothing was left with me. I reached out to the online loan people to borrow me some money to repay later and I was borrowed 20k. The sources I hoped to get money to repay failed and time was up. Note: that wasn't my first time of borrowing from them but because I failed this time, they decided to embarrass me by sending offensive messages to my contact list including my lecturer, relatives and ex-girlfriend. I really felt embarrassed.

Well, to cut the story short, the text below is what I sent to them to recover their money.

These are some of the people who give Nigeria a bad name in the international community.

You went to obtain a loan with the intention of never repaying and you are still proud of it? Can you tell this story to ur kids? Are u not ashamed of yourself?

The loan u collected is someone else's sweat, please go and repay it.

Shokoloko:
Son, let me explain what will happen and I await any counter argument.
You dont have to repay that loan.
But this is what will happen if you don't pay.
Your name and BVN gets entered into the credit bureau as a debtor. Now if you dont have any plans to succeed and enlarge your business there is no point stressing yourself to pay.
But if you ever have a hope of going into business big time, or growing your business, that loan will hang on your neck and you will never be able to access any reasonable service from any financial institution.
Whether in partnership or Limited, the moment your BVN pops up in the bank and you or your company is trying to get any form of credit or bank guarantee, your loan will pop up and God help you, maybe by that time a small loan of N20k has become N2m and you really need a bank guarantee/reference to show your Chinese partners that your company or partnership is capable, then you will pay all plus interest accrued.
Someone said to report to NITDA. NITDA will only instruct that they should not send messages to your contacts.
NITDA cannot wipe your name out of the credit bureau of collections.

Let's try to be looking far into the future when we want to take some actions

Leave that mumu, let him be shouting NITDA all over the thread.

Some Nigerians can never be successful no matter how you help them.
Nobody forces anyone to take a loan. Some idiots say online loan companies or collateral free loan firms are illegal.
Before signing up for a loan, please read all the repayment conditions with huge interest rate.
"Non collateral loans" all over the world are very expensive, so think very well before applying for such loans.
Alternatively, you can take salary advance, or use your line of credit from your bank
Ask friends and family

Baba better pay ur debt onigbese

DubaiLandLord:
Your papa is blind to see where I wrote BVN abi? Abeg carry your rubbish comot my front. Maybe he go change him BVN number too

Swine!!

habaa you skip am go I'm papa straight lmao

PowerOfLove:
Right or wrong?

You could have staked wifh 1k and win... At least you wouldn't have gone for the loan.

samuel051:
story..those loan people are not under any credit bureau shit,apart from carbon and branch,the rest are illegal lenders.

The problem is that you cannot tell which money lender is actually illegal and which one is licensed

Kastonkastroll:
Why is it that majority of Nigerians hate paying back their debts. Why? Isnt this wickedness. If they refused to give you the loan in the first place you will start abusing them.

Na so I borrow one idiot my money because I been pity his level of poverty. To pay me back became an issue that even the police got involved. Me and my money but the police were treating me like a criminal. Smh

I feel ur pain.

One rule I've made for myself is to never loan out money I cannot afford to lose.

The truth is that if a debtor has not made adequate and definitive plans to you on how and when they will repay back a loan, they will never do so.

samuel051:
story..those loan people are not under any credit bureau shit,apart from carbon and branch,the rest are illegal lenders.

Bureau shit not backed by government; den want put fear for people mind.

If I owed a bank now, it's different not all these mushroom online lenders who loan for a tenor of 10 days. Yeye People.

dlondonbadboy:
If you can’t meet their requirements why borrow from them in the first place? You borrrow and you don’t want to pay back and you think it’s smart? You are just stupiid.

Your word should be your bond. If you borrow 20k to pay on the 20th, make sure you have it by that 20th, otherwise sell your phone and pay the debt, don’t be a cursed idiiot. It is foolishness not wisdom.

I

You deserve a big claaaaaap

Yes.

captainking:
This is true.. Even your friends

Hellonearth007:
Its not good to owe. If anyone take loans he or she should pay back but I want to ask you,is your dream future based on to continue borrowing?

depending on how you see borrowing... If you are a business man like me, you would make good loans your friend because that's how you make more money with money you don't have... So quit the sentiment and grow up, loan is an enabler not a package for poor people to survive on, that's the misconception Nigerians have with loan, they go as far as borrowing to eat, now if you are borrowing to eat then something is wrong with your finance life..

Elliotwaveforec:
Bureau shit not backed by government; den want put fear for people mind.

If I owed a bank now, it's different not all these mushroom online lenders who loan for a tenor of 10 days. Yeye People.

Reason they go to the extreme to recover their money,if they can debit with bvn they won't bother sending deformatory texts to people's contacts.

They shouldn't have sent such offensive messages to your contacts.

Lastly, avoid all those useless loan companies.

PowerOfLove:
Right or wrong?

Shokoloko:
Son, let me explain what will happen and I await any counter argument.
You dont have to repay that loan.
But this is what will happen if you don't pay.
Your name and BVN gets entered into the credit bureau as a debtor. Now if you dont have any plans to succeed and enlarge your business there is no point stressing yourself to pay.
But if you ever have a hope of going into business big time, or growing your business, that loan will hang on your neck and you will never be able to access any reasonable service from any financial institution.
Whether in partnership or Limited, the moment your BVN pops up in the bank and you or your company is trying to get any form of credit or bank guarantee, your loan will pop up and God help you, maybe by that time a small loan of N20k has become N2m and you really need a bank guarantee/reference to show your Chinese partners that your company or partnership is capable, then you will pay all plus interest accrued.
Someone said to report to NITDA. NITDA will only instruct that they should not send messages to your contacts.
NITDA cannot wipe your name out of the credit bureau of collections.

Let's try to be looking far into the future when we want to take some actions

bros I like what u said.. but these online loan apps are bad in bahaviour... A lady borrowed 10k with an interest of 30% which means , she is to pay back 13k within 14tin days...three days to her due date. She felt sick and hospitalized during dis period her husband sent someone to report her health condition to her office's boss... Dr asked her husband to switch off her phone in other for her not to get disturbed with calls... before she could gain her health back her loan as already overdue 3days and loan app already defamated her image by contacting peoples in her phone book that she is not a trust worthy somebody... that she took loan and refused to payback ... That she as being putting some act of a criminal... Sent her acct details with names including address to her phone's list...How could they do such damages to her personality...

walefresh3:
bros I like what u said.. but these online loan apps are bad in bahaviour... A lady borrowed 10k with an interest of 30% which means , she is to pay back 13k within 14tin days...three days to her due date. She felt sick and hospitalized during dis period her husband sent someone to report her health condition to her office's boss... Dr asked her husband to switch off her phone in other for her not to get disturbed with calls... before she could gain her health back her loan as already overdue 3days and loan app already defamated her image by contacting peoples in her phone book that she is not a trust worthy somebody... that she took loan and refused to payback ... That she as being putting some act of a criminal... Sent her acct details with names including address to her phone's list...How could they do such damages to her personality...

The lady and her husband did not do well. They had strength to send a message to her boss but no strength to send a text or a 2 minute call to the loan company - as in they expect the loan company to use magic to understand the situation.

Shokoloko:
The lady and her husband did not do well. They had strength to send a message to her boss but no strength to send a text or a 2 minute call to the loan company - as in they expect the loan company to use magic to understand the situation.

her husband is not aware that she took loan from any online... He only responded to what he knew... wife couldn't speak audibly....it is not any body's fault... That's they sent appolofy texts messages to members of her contact list after they realized the damages they caused the family of the woman ...

PowerOfLove:
Over 85% of Nigerians are not economically happy people and the present government has made lives even more difficult for people as hardship is at all time high. We never had it this bad in this country before. With all these, at times, you may find yourself in a situation where you just have to do anything to survive at that period. So I was in dire need as nothing was left with me. I reached out to the online loan people to borrow me some money to repay later and I was borrowed 20k. The sources I hoped to get money to repay failed and time was up. Note: that wasn't my first time of borrowing from them but because I failed this time, they decided to embarrass me by sending offensive messages to my contact list including my lecturer, relatives and ex-girlfriend. I really felt embarrassed.

Well, to cut the story short, the text below is what I sent to them to recover their money.

how does this make sense? Go and pay your loan, simple!

Elliotwaveforec:
Ok, let them blacklist everybody and let's see whom they would lend to. You don't mess with the majority; you'd lose. You fraudsters are in the minority.

I urge these online money lenders to put their money in the real sector and stop being lazy or a real bank where due diligence would be carried out before lending.

But they force no one to collect loan now.

Shokoloko:
Son, let me explain what will happen and I await any counter argument.
You dont have to repay that loan.
But this is what will happen if you don't pay.
Your name and BVN gets entered into the credit bureau as a debtor. Now if you dont have any plans to succeed and enlarge your business there is no point stressing yourself to pay.
But if you ever have a hope of going into business big time, or growing your business, that loan will hang on your neck and you will never be able to access any reasonable service from any financial institution.
Whether in partnership or Limited, the moment your BVN pops up in the bank and you or your company is trying to get any form of credit or bank guarantee, your loan will pop up and God help you, maybe by that time a small loan of N20k has become N2m and you really need a bank guarantee/reference to show your Chinese partners that your company or partnership is capable, then you will pay all plus interest accrued.
Someone said to report to NITDA. NITDA will only instruct that they should not send messages to your contacts.
NITDA cannot wipe your name out of the credit bureau of collections.

Let's try to be looking far into the future when we want to take some actions

That's the point now.
People defaulted and within 24 hours, they already defamed them, haba! I don't even understand why people borrow money from them with such outrageous interest rate.

.

Shokoloko:
Son, let me explain what will happen and I await any counter argument.
You dont have to repay that loan.
But this is what will happen if you don't pay.
Your name and BVN gets entered into the credit bureau as a debtor. Now if you don't have any plans to succeed and enlarge your business there is no point stressing yourself to pay.
But if you ever have a hope of going into business big time, or growing your business, that loan will hang on your neck and you will never be able to access any reasonable service from any financial institution.
Whether in partnership or Limited, the moment your BVN pops up in the bank and you or your company is trying to get any form of credit or bank guarantee, your loan will pop up and God help you, maybe by that time a small loan of N20k has become N2m and you really need a bank guarantee/reference to show your Chinese partners that your company or partnership is capable, then you will pay all plus interest accrued.
Someone said to report to NITDA. NITDA will only instruct that they should not send messages to your contacts.
NITDA cannot wipe your name out of the credit bureau of collections.

Let's try to be looking far into the future when we want to take some actions

You said right that Loan will hand your neck. With time to time, You must pay the Loan fastly with growing your business. If You have no knowledge about this, then you read the adjustable rate mortgage pros and cons. So, You easily understood that pay the mortgage with time is the best option.

Shokoloko:
I don't have a source, I worked in the bank of about 15 years. Part of my job was to investigate loan defaults (some as old as 20 years) and the person had totally forgotten about it. I could use anyone's BVN to pull up whatever I wanted. I just ask the marketer or account manager to tell the person to go and make payment to so-and-so before the bank could discuss further.
You see them angry and surprised saying "But this was just N2000, ten years ago" and I tell them "its no longer N2000 o!" And they will be sweating and running around like chickens

Please ma how do I reach you for a clarification?? It’s kinda personal. Please shoot me a mail chiod2012@gmail.com

DubaiLandLord:
Mtcheww

Mr Man, go and pay back your loan. I hope them get your BVN and other bank details, so dem go deduct their money with interest from your account when money enter.

.

PARADIZEPRIEST:
NA YOUR SOCALLED BIG MAN NO DEY REPAY LOANS.BANKS ARE FOOLISH PEOPLE WHO DONT TRUST GENUINE HARDWORKING PEOPLE WITH THEIR LOANS because OF COLLATERAL NONSENSE IN NIGERIA. IN US THEY GIV YOU LOAN TO RUN YA BIZ AND MONITOR YOUR PROGRESS TILL YU CAN START PAYING BACK. MOST BANKERS IN NIGERIA ARE HARDENED CRIMINALS IN SUITS FROM EXPERIENCE,THEY GIVE LOANS TO SOCALLED CRIMINAL RICH PPL AND FEAR TO GO COLLECT IT WHILE INTEREST MOUNTS UP,THEN THEY START GOING TO COURT TO RECOVER.

1. For the big men, there is AMCON. Those guys will just take over your business and run it till they recover every kobo.

2. The US is not an ideal example .People there still get held on loans, plus if you default you would have difficulty taking future loans

DubaiLandLord:
I can't borrow person money again lai lai.

Person dey beg me, make I borrow am 30k this morning, say e go refund am before September 05. I tell am say I no get 30k wey I fit borrow am but is fit see 3k dash am sha.

Dash me too boss.

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