₦airaland Forum

Simdyofficial:
God bless you jare.. This people saying rubbish here about loan companies will even do more than that to anyone owing them a dime.. They can disgrace there brothers or customers when it comes to money issues but here they are acting like angels. Lol

Bro, check the messages these lenders send to people.

Nothing should justify data breach or defamation of character.

How can you call someone a chronic debtor or a fraudster simply because they defaulted for a few hours?

So after shaming them, would they still expect you to repay?

No ruffian can try that nonsense with me. They will have to explain to me how defaulting on a loan is the same thing as fraud.

MartinsD12:
Branch app but please be ready to pay oo, they are good though

ok tnx

nick50:
..oga I never said debtors shouldn't repay the debt, the thread never said anything like dat..I only told them how to prevent the loan apps from defaming thier characters

OK.

Honestly, those lenders need to be regulated.

They are too illiterate to be entrusted with data.

Oldmansense:
To avoid been embarrassed, after taking your loan, go.to app.settings under settings. Select app setting a den look for app permissions and remove all permission assigned to the loan app. From that moment they will.notnbt able to.access your contact list to get your friends number. Or possibly delete the loan app from your phone after borrowing. I be proud Nigerian

Average Nigerian mentality. Is that not stealing?

I got a similar message about a colleague of mine at work, stating that she is a fraudster, and I should not transact any financial business with her.
I traced the number with true caller but could not get the name.i wanted to ask my other colleagues if they got similar messages but didn't want to embarrass the person involved,so I just deleted the WhatsApp message and kept quiet.e better make I shut up than make the person feel embarrassed

Chuksmonika:
Stay away from Sokoloan, Kash Kash, Lcredit, and one other loan app( I can't recall the name now) if you have dignity to protect.

If you must borrow, take from Palmcredit, fair money, Branch and Carbon. These four apps will never send messages to your contacts if you default. Rather, they will embarrass you with calls every now and then urging you to pay up. They won't involve your contacts.

Haven said this, don't rush and collect money and refuse to pay up thinking they give free money oo. He who borrows MUST pay.

Intelligent way

That's why I so much dread loans o.
Isharp sharp,lapo etc
Make I dey think of how to pay loan and interest join.for what now

robosky02:
https://nairametrics.com/2021/10/15/loan-apps-go-gangster-send-shame-messages-to-close-contacts-of-loan

What a very unwise way of going after a creditor...
How does that now bring back their money...?

No be say dem no go pay o...

Yoighaman:
Bros Tyson Fury, they didn't force anybody to take a loan. It's a choice and if you are not comfortable with their terms and conditions, take a long walk. Nor be by force.

It's actually a crime to willingly take a loan and deliberately refuse to repay. Such a person should be jailed.

Stop thinking like that even your country Nigeria is owing Chinese Bank what he said it's the truth

nick50:
My advice to any of u that borrowed or want to borrow from all those loan app is to delete the app from ur phone once ur loan has been approved and disbursed to ur account, by so doing they won't be able to have access to ur contacts and messages wen d loan is due or wen u default the loan agreement

This mannnnnnn

Simdyofficial:
Anybody owing should pay.. Very simple.. This is business..

FTC for the second time this week.. my brand loading

Tell that to Dangote

TarOrfeeek:
You can't blame the Loan Sharks

Because Nigerians see credit facilities as Miracle Money or Sara money.

Instead of making small payments in a timely manner. Somebody owing SOKOLOAN N100,00p will still be eating Indomie Super Pack with 4 boiled eggs, like a food monster.


Infact the Loan sharks should use Geo-location tools to locate debtors and use koboko to flog sense into them.

There is nothing like free money!

Black race is a problem because of people like you.
You are incapable of existing in a civilized world.

Melv4:
How can they intelligently recover the loan ,I want to learn

HOW TO RECOVER LOAN AMOUNTS/DEBT DUE IN 7 STEPS –


The recovery of the amounts due is a critical process and may vary customer to customer. The legal action may be taken at the last stage when all the conciliation efforts fail. Moreover, following are the steps which must be followed for recovery of the amounts due for effective recovery-

1) Conciliation-


Conciliation is a very important part of the recovery and shall continue throughout the process of recovery. The conciliation effort may bear fruit even at the first visit to the customer or even after filing of legal cases against the customer.
So from the onset do you KYC... That is Know Your Customers before disbursement.


2) First Come First Go-

You need to maintain consistent contact with the customer and always remain available whenever customer calls you for collection of amounts due. The human tendency is that if creditor is in continuous contact for the collection of amounts due and maintaining relations with the customer, the said creditor shall always get first preference in the list of creditors of the customer for the refund of the amount due. One may come to know availability of the funds with the customer only when he/she is in continuous touch with the customer. So if you are reaching to the customer for the recovery when he has money well before any other financer/creditor you will be able to recover your amounts due from such customer without much pain.

3) Reminding the penalties, loan amount and terms of the Loan/debt to the customer-

Always remind your customer about the terms of loan/business agreement and the charges which he/she/it will have to pay if he/she/it fails to pay/does not pay the loan amounts/debts due. The customer understands his business well and he can anticipate the effect of the penal interest, charges and penalties on his balance sheet and may pay the amounts immediately on availability of funds with him/her.

4) Compliance with Regulatory Requirement-


Always follow the mandate given by regulatory bodies for the recovery of amounts due and ensure documentation as may be suggested. The said documentation will help you in recovery of amounts due during litigation.

5) Disclose all the options for repayment-


First decide the options internally that may be given to the customer for repayment of the money and explain all the options to the said customer so that he may apprise the said options during the recovery process and take decision immediately.


6) Mediation from sales team-


Sales teams of the organization always remain in touch with the customer and hence their mediation may help to some extent to make the customer understand the requirement of immediate repayment.


7) Legal Recourse-


Explain the customer about the litigation that may be initiated as per the regulatory requirement/company requirement against the customer if it fails to pay the loan amounts/debt due and implication of such legal actions.


The legal action may be initiated during the process of recovery and conciliation depending on regulatory requirement or depending on circumstances/requirement of the case or depending on the customer responses for the effective recovery of the amounts due.

HahHahah nothing works well here I swear

robosky02:
In the voice the warri little girl


"No be sa I no ho pay, them for just flog than to send her home "



https://www.youtube.com/watch?v=VPq4_DXcX5U




Like seriously, there are better ways to recover loans than shame, abuse and tarnish the image of their clients

And they still surcharge defaulters, plus the illegal embarrassment, yet they still pay back.
That is triple punishment.

I borrow money... I go pay..... I no dey run.... But the moment you send my contacts messages, forget that money..... If u Wan collect the money, come arrest me and right there before the police, I will pay you your money but not before you produce the agent that sent defamatory messages to my contacts... While I pay you all I owe, I sue the bastard for defamation of my character........ Because e no make sense... Wen I register for the loan app, my contacts no dey there... When u dey give me the money, my contacts no dey dia..... When I dey chop the money, my contacts no dey there... Now e reach to pay loan, u dey form agility... U rush go cally contracts.... As u call them, collect your money from them....... U don see ashawo wen dey draw money from who no fvck am? The likes of fair money wen no dey send messages to people contacts, no be loan company them be? Dumb people

Simdyofficial:
talking rubbish bro.. If everybody behave like that. How will the loan company pay there staffs and also continue business.. Make we dey reason other people too. Imagine say you get shop and people dey buy on credit and no gree pay.. If you meet one for market,you no go ask am immediately abi?

Hahaha
Well-done sir, the loan companies have now recruited lots of e-touts to support and encourage their illegalities

robosky02:
When you come on line don't just start by insulting read first


In the article somebody applied for extension and paid outstanding

Only to be called by his pastor that the loan company told him his member is a fraudster
When he has already paid.

The question is why all the names when you can intelligently recover debts

He is under the payroll payroll of the loan sharks.

Them send me this msg that my guy used me to collect money , na so I call the guy , he was not picking , I go home house no way , not around

I just come online Google the company name , I see that it's a random msg they send to debtors phone contacts
But it's scary , they said they should come for me if he didn't pay .
The boy just collected my number a day before , I was like " so this is why he collected my number

Damidave1124:
I received two messages from them last month, claiming one of my female friend is a fraudster on the run, called her to confirm, she said I should forget them, that she doesn't have their time now.

My question now is what if they refuse to pay them, what will happen?

There are due processes by flagging all accounts linked to the bvn through CBN.

One way or another they'll learn. There excesses are being checked as we speak and they'll be receiving different type of law suits.

SokoLoan and it's affiliates particularly, they have made this a habit to defame people even if it's just a day of default and this is terrible.
Worse is that they also charge a penalty for everyday of default.

NITDA, NCC, FCCPC, HUMAN RIGHTS COMMISSION amongst other government agencies are stepping up to deal with them.

I can assure you one thing, that these companies would deny their agents and even relieve them of there duties when it's all set and done.
People ought to know when they have overstepped even if you're working for a company that doesn't even provide you with any entitlement benefits.

It is only in Nigeria that anything goes...in saner climes nobody does this.

As far as they're not tarnishing the image of the non-defaulting party, they're good to go.

Story!

xpool:
There are due processes by flagging all accounts linked to the bvn through CBN.

Oldmansense:
To avoid been embarrassed, after taking your loan, go.to app.settings under settings. Select app setting a den look for app permissions and remove all permission assigned to the loan app. From that moment they will.notnbt able to.access your contact list to get your friends number. Or possibly delete the loan app from your phone after borrowing. I be proud Nigerian

once u apply for d loan and they grant u,all u contact will saved in there database,even u delete all ur contact,or delete the app they have save u contact,

EmekaBlue:
They should just send those fintech companies especially the chinese shark loans away from Nigeria to stop these uncultured recovery defaming method....Its more harm than any good. You are even a slave to them when you take their loans no matter how good record you have been patronising/helping their business as many now avoid them to make them too much profit/money. One default dey drag u on the ground like a common criminal even involving your whole family

1. Unbelievable high interest rate
2. Just 7days to repay almost half of the money u got like if it's easy why don't they maybe go make double of the money themselves without using baits to help them make money
3. The loan amounts are usually useless like 1500,2000. You have to keep borrowing for a long time before you get something tangible

And many more red flags. I no get time

No loan companies force people to take loans without collateral. So the people have a choice and must pay back.

All this useless loan app

BluntTheApostle:
Bro, check the messages these lenders send to people.

Nothing should justify data breach or defamation of character.

How can you call someone a chronic debtor or a fraudster simply because they defaulted for a few hours?

So after shaming them, would they still expect you to repay?

No ruffian can try that nonsense with me. They will have to explain to me how defaulting on a loan is the same thing as fraud.

Good

Simdyofficial:
Anybody owing should pay.. Very simple.. This is business..

FTC for the second time this week.. my brand loading

If you had read this article you'd understand that it is not business to send messages to one's contact in the name of recovering loan.

The defaulters do not know their right. If they do, many of these companies will pay them millions for defamation.

The excesses of all these loan apps should be put into check by the regulating authorities.

Shaming people, defamation of characters should not be entertained in any way. Other means should be employed in collecting their money. We all know the country is not easy but those who received loans should pay up as at when due as well.

With the level of poverty in Nigeria, I would just borrow 100k from one of this loan app and run to Ghana or Cameroon

Myhusband:
a friend was a victim even though you won't really blame this loan apps but blackmailing their customers is height of wickedness



if I borrow and couldn't meet up with the date agreed, I'll just go to my social media to shame myself before you shame me. I borrow money from so so app and I defaulted but I never abscond so ignore any blackmailing texts you might get from them, I'm on the progress of repaying it back



defaulters should always try to pay on time but if means failed shame yourself before they shame you so that you won't die of depression

I like your way

How can you blame the company imagine losing millions to bad debts with no chance of recovery within months of operations

But come ooo all this Chinese companies why don’t they go to stronger economies and loan the citizens of that country cash for instance some European countries in sure they can still break into the market

Even South American countries they can easily tap into the market and offer loans and make money on the interest they collect

Even some African countries such as Mauritius, Mozambique, South African have sound economies so if you start a loan company you will easily succeed in those countries

Why leave all these countries and come to the poverty capital of the whole world

Imagine someone has not eaten in like 5 days and you are giving him a loan of 30k to buy food to eat what else do you think would happen after the loan tenor expires

Like don’t these companies do a lot of market reaseach before starting out businesses

Nigeria is poverty capital of the whole world for a reason just alongside India

Starting a loan company in Nigeria is tantamount to investing in the people you are lending with a promise that they will pay you. Back

Rich countries with rich citizens do this easily the poorer the citizens of a country become the harder it is for you to invest in them

Even federal government of Nigeria dares not start a loan company to loan Nigerians money more you coming with just 1 million dollars giving people 5k loan each with 10 percent interest payable within 15 days

Which magic do you want those you are lending to perform

So I blame the companies tbh

So Aggressive loan recovery tactics is medicine after death

Always try to study the market you are trying to do business in very very carefully

Money that these Chinese companies suppose to use to build luxury hotels perhaps in good locations so rich Nigerians may come there and they make thier money or shopping centers or simply leave it in thier bank account jeje you went and started loaning the money to people eya