Buhari to the rescue

The annoying thing about them is them sending me messages when someone fail to pay up , but when he or she was applying they didn't tell me or when someone pay up.

While it is wrong and totally inexcusable for these loan companies to breach people's data and resort to blackmail, it is VERY IMPORTANT THAT ANYONE WHO TAKES LOAN FROM THESE COMPANIES SHOULD TRY TO PAY BACK.

Op, so you don't know the difference between debt and dept?

I support this move. I know say Nigerians no dey gree pay but there are other means of getting your money back and not through blackmail.

Ok

That was how i received a deadly threat from one loan app, claiming that i was used as the person's guarantor.
The message in part said "any gruesome action against the person" will affect me.
Can you imagine.!

.

80% of gamblers patronise them. That's why they can't pay their dept

Nice move...

..

BigSarah:
Don't just protect loan debtors , also protect the creditors...
Pay the loan owed by defaulters to the loan companies...

And moreover before loan are disbursed, the debtors accepted terms and conditions as well permission to breach data

Creditors will only be protected ONLY if they are licensed and registered by the appropriate bodies. I agree that Nigerians can be difficult but data breach is something that shouldn't be toyed with. Online publishers are mandated by Google to put up GDPR notices in order to explain to their visitors how their data are used or protected.

Reckless data breach is as sensitive as murder but worse, all of your life's activities and dealings and made public without your consent. It is a grave crime whether or not users are bound by those terms of use.

Giving out loan at high interest rate and few days is a criminality. All loan apps are criminals except a few.

Don't know why rep OE senate refuse pass bill that mandatory bank to deduct money from your other(bvn) account if you borrow money from them. I remember 2019 or so, access bank used to loan me few cash up to 50k then and I will pay back but suddenly they remove the stuff and say its SALARY only that can borrow money. Just because some people owe them money and refuse to pay and don't use the account again. Access bank don't have right to deduct the money from their other account.

Some people are just wicked as well, I don't know why they will deliberate borrow and choose not to use the account again

This country na one yeye jungle.

L Credit should be the first to be blacklisted.
They would give you 30% interest in 14 days loan and beginning from the 10th day would start bombarding you with calls and threats.

They've taken advantage of the current economy situation to extort Nigerians with big interest in the name of Loan.

I would personally commend FG if a strict measure could be taken to protect Nigerians from them. They also spy into people's contacts and call history. In a sane country, this invasion on personal privacy could have sent them packing.

shuttox:
Sokoloan has frustrated many Nigerians...

I wonder how they get the victims relatives/friends contacts

Once you download their app the app is the portal that reds your contact.

And who will protect the loan companies?

We people that don't collect loans can NEVER forgive Buhari. He put you in the position to collect loans, why now forgive him because his actions have frustrated you?

See how easy it is to lose focus in Nigeria. Hunger bad!

wordcat:
And who will protect the loan companies?

Good question! You reason like a law maker. May God put you in the right position to make impact in your society.

Nice action by our lovely federal government

That's what Buhari taught Nigerians after collecting loans so loan app should have sense biko.

Those Countries Buhari defaulted in loans repayment did they send messages to other President on Buhari's contact, in order for him to repay

Loan apps should be patient because Nigeria as a Country is owing too.

Has anyone encountered with LCredit? Those guys hacks into your phone and contact any one on your contact list anytime they want.

uchwar1:
80% of gamblers patronise them. That's why they can't pay their dept

Exactly. Even me

uchwar1:
80% of gamblers patronise them. That's why they can't pay their dept

Exactly. Even me buh i pay bcuz earn. Aside branch, fairmoney n carbon I no borrow again. All dis easy credit, soko, icredit n lcredit no be me n Dem.

They keep calling my line that I stand as a guarantor for someone without me signing anything. They threatened to block my bvn if I didn't provide the person that took loan from them. The company is Lcredit. They abuse me, chat me on WhatsApp and everything about this app is insults.

DanseMacabre:



Honestly enough people go forgive Bubu if him do this one. But the government should be more concerned about the cutthroat interest rates and duration, cos that's the root cause of defaulting on repayment.

Many people blame Nigerians for taking loans at such rates after reading the terms. I guess such people have never been in dire straits before.


Next should be exorbitant cost of data.

But this one they're focusing on Sokoloan alone, when there are a plethora of other companies whose modus operandi is similar

because of loan app forgive who.
guy talk better abeg.
loan matter na personal issue beside was there loan apps pouring out like this before buhari became president

sifapop:
I want to create a loan app

Any suggestions?

Very easy. Meet software developers

I remember not meeting up on my due date and sokoloan agent call me a their, a slave to them and I will remain a slave if I keep borrowing money from them. Those words reset my head. And never to borrow from any loan app again

BigSarah:
Don't just protect loan debtors , also protect the creditors...
Pay the loan owed by defaulters to the loan companies...

And moreover before loan are disbursed, the debtors accepted terms and conditions as well permission to breach data

The bone of contention here is .....invasion of privacy and threat to people that knew nothing about this loan.

I received msg from them stating someone use me as a guarantor and most times I don't even no this people......honestly is very annoying wen u get threatening msg for something you knew nothing about.

They should go after the defaulter solely and stop sending random threat msg to people they presume are close to them.

BigSarah:
Don't just protect loan debtors , also protect the creditors...
Pay the loan owed by defaulters to the loan companies...

And moreover before loan are disbursed, the debtors accepted terms and conditions as well permission to breach data

Yes the debtors accepted the terms and conditions but I think the breach herein referred to is the creditors sending messages to their contacts that they guaranteed the loan which those contacts are not aware of.They should device another means to recover their loans please.