Nazgul:
The problem is people would still borrow money from them, then come online to cry victim. If everyone stopped patronizing them, they'll shut down. It's that simple.

My brother when it comes to borrowing in nigeria it will never work. We love free stuff too much

LIGHTHEARTED0:
.



I pity non of you, if you can borrowed even a token you shouldn't be anyway forced to pay,not even 1 day default.

majority of Nigerian are just criminal-minded that need to be drag on the floor to reset their brain

They should pay up! We know ourselves in this country.. Everybody na criminal somehow.

Ezeego1:


Young man listen attentively, Those loan apps can't do any shit with BVN so stop threatening people unnecessarily. It is advised that people owing them should make sure they don't pay back. They are illegal and should be treated that way.

NB- Anyone that need a loan should make sure he has no real contacts on his phone at the time of taking this loan, make sure you have no delicate pictures in your phone. Once the money is given to you, go to your phone settings and deny them access to your contacts, messages, media, location...after that delete the App on your phone and download another one and repeat the same pattern.

This is a collective effort to make sure they go bankruptcy and leave this country. They should go to China and India to be practicing their scam loans.

Boss, my loan would be due in 2 day's from now, with no money to pay back yet.

I used my GT bank card to collect this loan from fair money, when the loan is due would they be able to collect money from my other accounts if money mistakenly enters? Because I have kuda and uba, aside my GT Bank that I linked my atm card with them, would they be able to collect money from my other bank accounts? I don't know if you understand when I'm explaining.

LIGHTHEARTED0:
.



I pity non of you, if you can borrowed even a token you shouldn't be anyway forced to pay,not even 1 day default.

majority of Nigerian are just criminal-minded that need to be drag on the floor to reset their brain

They should pay up! We know ourselves in this country.. Everybody na criminal somehow.

Honestfrend:


U don't talk like that if u want the country 2 be a better place..

Some of these loan sharks need 2 checkmate. They lack manner.. Just because u borrow money from someone u don't expect the person 2 treat u anyhow because u went 2 borrow from him or her.

If you want the country to be a better place, honor the terms of any agreement you make, and that involves paying back your loan on time, as agreed.

If I took a loan from you and I refused to pay you back as at when agreed, and even blocked you online and by phone, would you be happy?

Sometimes one needs to take loans from family or friends. Not from loan app.

This is just sooo funny [center][/center][center][/center]

Nazgul:
The problem is people would still borrow money from them, then come online to cry victim. If everyone stopped patronizing them, they'll shut down. It's that simple.

I like this your comment, it is a great comment.

But here is the problem...at the end of the day, there is a great need for short term loans in Nigeria. Or quick loans in Nigeria. Especially when one has unexpected emergencies.

The loan apps, evil as they may be, are fulfilling a need and a service. Banks don't want to, for the most part, give short term loans. Cooperative unions are members only. Family and friends may not always have.

And the sad thing is, Nigerians are some of the worst loan defaulters ever...from the big man to the poor man.

The ownet of bvn or TIN of any number used could be BANNED BY CBN.
These are criminals. They are not registered not pay taxes.
Blackmailing is a criminal offence and you have every right to challenge the owner of the telephone numbers to court. He or she will be jailed for at least 7 years.

Iceking1:



Boss, my loan would be due in 2 day's from now, with no money to pay back yet.

I used my GT bank card to collect this loan from fair money, when the loan is due would they be able to collect money from my other accounts if money mistakenly enters? Because I have kuda and uba, aside my GT Bank that I linked my atm card with them, would they be able to collect money from my other bank accounts? I don't know if you understand when I'm explaining.

Global Standing Instruction (GSI) allows banks to take principal loan amount and interest from other bank accounts you have, but only as a last resort.

For example, if you owe UBA money, GSI allows UBA to search for any of your other bank accounts that you have with other banks to see if you have funds.

Supposing you owe UBA 20,000 naira, and you have 10k in Fidelity and 10k in Access Bank. UBA can take these monies without asking your permission.

However, this is done only as a last resort. They only do it for non-performing loans (at least 90 days overdue).

But I don't think that CBN has extended GSI to microfinance banks like Fairmoney.

I only know of traditional banks. I don't think microfinance banks have been given the authority to exercise GSI.

jasent:

Nigerians don't like going to court. If any of the app foolishly do this to my relatives then do buy market be that.

You and your relative will be jailed within 30mins.
You have no idea what a breach of contract means

headbasher96:
No collect gbese wey u know say u no go fit pay its very simple why not borrow from someone than these people

They have borrowed from all their friends and relatives and end up defaulting.

BluntTheApostle:


Global Standing Instruction (GSI) allows banks to take principal loan amount and interest from other bank accounts you have, but only as a last resort.

For example, if you owe UBA money, GSI allows UBA to search for any of your other bank accounts that you have with other banks to see if you have funds.

Supposing you owe UBA 20,000 naira, and you have 10k in Fidelity and 10k in Access Bank. UBA can take these monies without asking your permission.

However, this is done only as a last resort. They only do it for non-performing loans (at least 90 days overdue).

But I don't think that CBN has extended GSI to microfinance banks like Fairmoney.

I only know of traditional banks. I don't think microfinance banks have been given the authority to exercise GSI.

Okay thank you so very much, I really appreciate, I haven't gotten buyer for my TV, I would have paid long ago, they're not pricing it well, but I will sell it within a week from now and pay them, so that I can eventually be free.

AndroidAI:
They deserve it. Nigerians know how to borrow, but when it's time to pay back they start avoiding you. If you have never borrowed someone money and they refused to pay back, you wouldn't know how it feels. They should be arrested and jailed for defaulting in their agreement.

You dey mind them? I swear 80% of the people that borrowed this loan won't pay back if not for the embarrassing means these companies deploy to get their money back. Nigerians are greedy, opportunistic and criminally minded..hence, they would think they can get these loans and escape paying back until the embarrassment comes.

Iceking1:




Boss, my loan would be due in 2 day's from now, with no money to pay back yet.

I used my GT bank card to collect this loan from fair money, when the loan is due would they be able to collect money from my other accounts if money mistakenly enters? Because I have kuda and uba, aside my GT Bank that I linked my atm card with them, would they be able to collect money from my other bank accounts? I don't know if you understand when I'm explaining.

The answer is NO, They can't be able to withdraw money from your other bank accounts, it's 100 percent impossible so don't panic. FairMoney is considerate, They have options for loan extension you can check that. They don't blackmail people as well, if they call you pick up and tell them you will pay soonest.

Fear not!

OriOko88:
Na only fairmoney and palm credit I dey deal with. The new method they employed in getting their money back is liking ur ATM card with their app,so anytime one defaults they can debit u straight from ur acct. They re now smarter. Na palmcredit did that for me..dem deduct 5k from from my acct out of d 15k I dey owe them.. I shaperly withdrew my 4k balance from my bnk

lol,,, try change your ATM card, then they will be powerless

Loool.


This is naija. Everybody na criminal.

Smartguyboy:
I used my 3 numbers to register to get loan of 28k Dey been begging me to get after I paid for the phone I bought from them on time . I have send them the 28k back but they want me to pay am interest of 13k I told dem I won’t pay the money I only pay back that they gave me.

You are a thief and a criminal. Didn’t you see the interest the loan amount incurred before collecting the loan? If it was bank that gave you the loan, wouldn’t you have paid the interest?
Many of you Nigerians are just greedy

SergeantTitus:
Around 2020 or so I made a mistake borrowing from them . The exact day loan was due they started sending messages to my contacts that I'm a criminal on the run with company money and I should be reported to the nearest police station if found. Family and friends started calling to ask what was happening.

If you take loan why not pay back as promised
Idiot with criminal intent is what you are

Osobi32:
Are u aware that this loan sharks are just taking advantage of the economic hardship in Nigeria to reap people off? Do you even understand that it's an act of criminality to give someone a loan at 50% interest within 7days. They annoying part of it all is that these companies are owned by Chinese!

Can you tell the loan companies these fact before apply for loan? No. Then after collecting the loan you begin tell them how to run their business

BluntTheApostle:
To run these criminals out of business, stop all REPAYMENT.

If you are owing them, don't repay them.


If you are owing them, stop repaying them.

The goal is to run them out of business.

Two things to do:

1. Stop repaying your loans to all the illegal loan apps. They are illegal and there is absolutely nothing they can do to your BVN or NIN.

2. Loan apps who claim to be microfinance banks such as Fairmoney and Carbon have many breaches. Continue to flag them on Google Play while we at the forefront of the fight continue to pressurize government to close all of them down.

How about a very simple and short advice which is for People to stop taking loans from them in the first place?

GodPrince:
pls tell me more about the shariah inclined financial institutions

Haven't you heard about Jaiz Bank?

Iceking1:



Okay thank you so very much, I really appreciate, I haven't gotten buyer for my TV, I would have paid long ago, they're not pricing it well, but I will sell it within a week from now and pay them, so that I can eventually be free.

Just make sure you don't borrow to repay.

If you don't have, don't pressurize yourself.

Fairmoney can only auto-debit your GTBank account for now, since you linked your GTBank debit card to your Fairmoney account.

Although, I am fighting a case against Fairmoney because I have reported them to Google Play and to the FCCPC, but if you have the money, you can repay them.

BUT DON'T BORROW TO REPAY ANY LOANS. I BEG YOU IN THE NAME OF GOD.

Defaulting on a loan is not a criminal offence. It is a purely civil matter.

deepwater:


They have borrowed from all their friends and relatives and end up defaulting.

u know that kind thing na

Nazgul:
The problem is people would still borrow money from them, then come online to cry victim. If everyone stopped patronizing them, they'll shut down. It's that simple.

If you run a loan coy or work in one, you'll understand why some of them go to this extent.
Though some of this is quite extreme.

A lot of Nigerians take loans without intention to pay back. And are serial borrowers taking loan from every new loan app that surfaces.

I used to work as a credit officer in an MFI, I can tell you what I faced. it was not a funny experience.

My advice, if you have no intention of paying back, then don't go and take loans. Loans are not charity or give-aways.
Cos people's jobs are on the line when people default on loans. And some coys end up folding up when their bad loans are too much, and run them bankrupt.

SergeantTitus:
Around 2020 or so I made a mistake borrowing from them . The exact day loan was due they started sending messages to my contacts that I'm a criminal on the run with company money and I should be reported to the nearest police station if found. Family and friends started calling to ask what was happening.

You made mistake in downloading their app, filling all your details and Bvn and selecting the amount you want , received the money same day and didn’t return that same day ? C’mon

Zombidence pple self

SergeantTitus:
Around 2020 or so I made a mistake borrowing from them . The exact day loan was due they started sending messages to my contacts that I'm a criminal on the run with company money and I should be reported to the nearest police station if found. Family and friends started calling to ask what was happening.

I'm never in support of One being in debt but You see eh, should anyOne/company rub dirt on ma image like that, that PERSON / COMPANY has just overPAID themselves in FULL. No way I'm I ever giving them a dime.

(un)fortunately, I have never used a Loan APP and Hope never to.


For those who still use LOAN APPs, why Una no go try dey get sense enough to think outside the Bucket.

What stops you from having a special phone that contains no Contacts at all or contains invalid & wrong phone numbers.

That way, should they copy your contacts, they all would be useLess.

if Only we get sense, a lot of super simple things would be commonSense. But we don't because our Brains rarely get adequate workOuts. Anything little things, we attribute it to religion or the likes.

Ezeego1:


The answer is NO, They can't be able to withdraw money from your other bank accounts, it's 100 percent impossible so don't panic. FairMoney is considerate, They have options for loan extension you can check that. They don't blackmail people as well, if they call you pick up and tell them you will pay soonest.

Fear not!

Thank you so very much boss, I would use the loan extension, I will take one month extension at least I would have been done selling my TV by then to repay them.

habsydiamond:
These loan sharks are crazy as shiit they can go to any length cos of their money... in most cases. The money they are badmouthing someone for is always chicken change. If not fir bad economy why would someone run to loan sharks to borrow money which carries huge interests. I pity those these loan sharks rubbish... imagine sending messages to someone's boss in office on top small change that can be the end to that job

I'm tempted to say "I don't blame them" because MOST Nigerians are good at defaulting. Can't recall how many times I've had to cancel debts owed to Me. To the extent When they ask, I tell them I wouldn't give them. I don't bother telling a LiE that I don't have.

Loan app thread on NL again
Anyhoo i can see some of their workers saying you are a criminal, thief blabla
What if you clowns just sit down and ask yourselves why loan apps abroad don't do this nonsense or your bosses are too scared to expand there
Well the answer is quite simple,the day them try am na 15 year sentence straight
What is appalling is that some of you are degree holders
Just opened the page and i was like smh
Anyway like somebody said ignorance na disease
About the loan sharks i think fccpc have and are doing their best

deepwater:


They have borrowed from all their friends and relatives and end up defaulting.

Thank you, they can't collect from their friends and family Na why they run go loan shark. They saw the interest rate and everything but still agreed.

BluntTheApostle:


Just make sure you don't borrow to repay.

If you don't have, don't pressurize yourself.

Fairmoney can only auto-debit your GTBank account for now, since you linked your GTBank debit card to your Fairmoney account.

Although, I am fighting a case against Fairmoney because I have reported them to Google Play and to the FCCPC, but if you have the money, you can repay them.

BUT DON'T BORROW TO REPAY ANY LOANS. I BEG YOU IN THE NAME OF GOD.

Defaulting on a loan is not a criminal offence. It is a purely civil matter.

Okay thank you so very much, I will not borrow to pay them and whenever they calls I will pick their call and assure them that I would pay, or better still I will take one month extension until I finally sold my TV to pay.

I really hope that they won't debit my other account, because I have money for contributions from people there.