₦airaland Forum

dedons:
Oga I'm a Nigerian whether typical or not.

You expect me to pay back after defaming me?

Who does that?

Was sending defamatory messages to my contacts part of the agreement we had before giving me the loan?

Tumbulum:
the truth is that their business model is too poor. How can you collect an interest of 50% percent in 7 days and you expect normal people to do business with you. Only someone who is desperate will agree on a loan of 50% interest in 7days and believe me there is a higher chance that he will not pay back. Its time they reinvent their business model and stop all these thuggery kind of business.

chronique:
Read my post again, slowly with understanding.

Gkemz:
Nothing will ever make me consider loan shark.

Last year I was in dire need of loan, I tried fair money and carbon. Even though I didn't accept it because I needed more than what they offered, but I must commend their level of professionalism. They were cautious and polite unlike soko loan rude female staff.

airsaylongcome:
Did you read the Ts and Cs line by line and didn't see that hidden there?

beeboy09:
Uninstall the app when you default. Them no born them well to see any contact details.

BluntTheApostle:
Many people beg for money here on Nairaland, but get no help.

So, they have no choice but to go to these instant loan apps.

Or have you ever helped any of them?




Don't they have family and friends??

What did they use the loans they get for?

I don't have to tell you what I do. Moreover, that I don't assist people on Nairaland doesn't mean that I don't assist people.




It is not everyone who borrows money that does not have means of repaying.



You should understand that I referred to defaulters.





Is it a criminal offense to default on a loan?




YES!!! Once there's a breach of contract, it becomes criminal.

BluntTheApostle:
There is nowhere in the Terms and Conditions where defamation of character is mentioned.

Defamation is a serious offense. And so too is blackmail.

frankson1:
YES!!! Once there's a breach of contract, it becomes criminal.

9182736455O1999:
Lol
na only me normal for this country

chronique:
I'm a businessman and there are thousands of people who have my no on their contact lists who I do not know. There are middle men who I have given my nos to, and have chatted with me on whatsapp. Despite the fact that I don't have a personal relationship with them other than the fact that they try to market my vehicles, I'd always appear on their contact lists to their creditors. Sometimes, I see the names and I'm wondering who the person is. Also, there are a few acquaintances I know, who also have my nos saved.

airsaylongcome:
Okay so how have they defamed the defaulter? Did they lie that the defaulter took a loan without paying back?

Stevenson1:
Lol
Federal government should look into those loan shark people oo. They are behaving like rogue agency and it's not okay.

frankson1:
How about people stop collecting money they can't pay back

What's the point of borrowing money with no means of paying back or not willing to pay back at all.

I think the loan companies should have a means of getting the police involved so arrests can be done.

BluntTheApostle:
Read mine very well instead. And very slowly too.

On no condition should you threaten or blackmail anyone.

The loan company opened conversation with a threat to blackmail.

The OP is within his limits to become defensive.

No professional lender uses threats and blackmails to recover loans.

snookcg:
Most of all this loan app reps are just zombie hustlers. I doubt if they earn 50k monthly. Them reps self know say dem nor fit pay the loans interest na why Dem go dey talk say why take a loan when you can't repay. Opportunist Zombie hustlers feeling like something with penny salary and no commission job. It's well with una.
Una nor different from estate gateman wey dey open eye for Uber driver.

Chuzoetoh:
you're not even normal

airsaylongcome:
Do you know that the Loan company would have started the conversation (in a very polite manner too) with gentle reminders long before they resort.to this?

BluntTheApostle:
Go and get a copy of the messages these loan companies send to defaulters.

Messages like: "This fellow defrauded us, and is on the run"

Haba, do they know the meaning of defraud and on the run?

I have seen messages where the debtor was even accused of armed robbery.

It is not fair.

Before you defend these loan sharks, get copies of defamatory messages they send to people.

airsaylongcome:
Okay so how have they defamed the defaulter? Did they lie that the defaulter took a loan without paying back?

kunlesehan:
Loan shark don jam lone tiger. What of the embarassment? He should pay up.
Lol

WowSweetGuy:
Those loan sharks will defame you on a day default or so tagging you any sort of name even with your pics sent to all your contacts, no matter how long you have been a good customer servicing their greedy shortest term loan with super interest... loan like 6500 to repay 13000 in 7days and still come to ask for repayment after disgracing you. I don't know if they think?!

airsaylongcome:
What does it mean to defraud?

What does on the run mean?

I am not in support of their tactics o, don't get me wrong. But all is fair in love and war. And business is war

IMAliyu:
Collecting a loan with no intent to pay back is bad.
But these loans themselves are ridiculous, with a 20-30% interest rate, per month or less time.
I've used them before, but only out of desperation of the time and falling for their temptation. I pay back while cursing their ancestors, and then deleting the app.

They report your BVN to a credit bureau, killing you credit score, and nearly permanently affecting your ability to get a bank loan in the future, and depending on the amount owned they do get the police involved. When you default.