Basicend:


Why would you go and borrow when u know I don't have capacity to pay back?

Be ready for a wide disgrace in that case.

owing a loan is a civil offense, blackmailing the debtor is a criminal offence. He who wants equity must come with clean hands.

If you can't tolerate insults, don't borrow from loan apps in Nigeria, except for a few ones.

Imagine one of them cursing my blockos for defaulting by a few hours

173 plenty

jaeyking:
The interest of the loan sharks should also be protected

How Nigerians will borrow and refuse to pay is something I can't understand

After the loan shark take drastic measures they start screaming foul play

they have to play by the rules, it is not a must to be in loan business. people default loans from banks too, but we do not hear theirs names on nta or do people suddenly become criminals for defaulting. please only give secured loan, a small amount in unsecured loans to people earning income.

The interest on some of this Loans are just pure individual greed.

If the government wants to really integrate this people and as part of a working economy, they should regulate their interest rate Otherwise they are no use to emerging business or the larger economy.

jaeyking:
The interest of the loan sharks should also be protected

How Nigerians will borrow and refuse to pay is something I can't understand

After the loan shark take drastic measures they start screaming foul play

It's good to protect lenders but not loan sharks.

Imagine paying 25% weekly on a loan? Even the courts will side with you.

Hezzyluv:
Way to go. Because, some of these loan sharks are just fraudulent. How can you borrow someone #10,000 and expect him to payback 16k within 7day? Shey na bet9ja him wan use the money for

I created thread on crime section, of how one of them keeps calling my mobile line every week telling me to repay the loan l took from them or else, they would send sabotaging SMS/calls to my contacts. And I have NEVER in my life applied for a loan.

Didn't you see the terms before you signed up? I don't even understand how this is a problem

Lifestone:
I don't get. When has it become the responsibility of FCCPC to give operational approval to Loan Apps. This is obviously under the purview of the Central Bank of Nigeria.

Very important question no one is asking. Seems in Nigeria, everyone is oga which is a sign of lawlessness.

May i not use loan app in this life. Amen

SalamRushdie:


Didn't you see the terms before you signed up? I don't even understand how this is a problem

Because someone needs funds, you ask for ribs, arms and legs?

jaeyking:
The interest of the loan sharks should also be protected

How Nigerians will borrow and refuse to pay is something I can't understand

After the loan shark take drastic measures they start screaming foul play

The FCPC does not allow loan sharks to operate. No loan company should turn into a loan shark.

If the loan interest is reasonable and duration is good, people will pay back easily.

SUPERPACK:
owing a loan is a civil offense, blackmailing the debtor is a criminal offence. He who wants equity must come with clean hands.

Which is worse - Civil or criminal?

Padosky242:


You day mind am .... Nigerians always have a way to telling a story to favor them ....

Didn't you read the terms and condition before applying to collect!

If it's not convenient for you .... Where did you collect it in the first place!??

Nigerians and always looking for how to manipulate a system to favor them

Don't mind the criminals, they go in with the mindset not to pay back

Hezzyluv:
Way to go. Because, some of these loan sharks are just fraudulent. How can you borrow someone #10,000 and expect him to payback 16k within 7day? Shey na bet9ja him wan use the money for

I created thread on crime section, of how one of them keeps calling my mobile line every week telling me to repay the loan l took from them or else, they would send sabotaging SMS/calls to my contacts. And I have NEVER in my life applied for a loan.

Even if na bet9ja self d charges too much

SalamRushdie:


Didn't you see the terms before you signed up? I don't even understand how this is a problem

such terms are illegal in Nigeria. they should operate according to the law

This is not all what I expected as I ran to open the thread.

List down the approved once and the unapproved once including the illegal online Banks for public consumption.

Chikina!!!

FalseProphet1:
I see Nigerians borrowing thousands from these approved companies and not paying back, I see the companies folding up.

This I have seen.

you also live in the mercury THAT IS WHY YOU'RE NOT IN NIGERIA

jaeyking:
The interest of the loan sharks should also be protected

How Nigerians will borrow and refuse to pay is something I can't understand

After the loan shark take drastic measures they start screaming foul play

Some people are just heartless and they are spoiling things for others
Many people use dis loans and help dem self and dey do pay back well Bt some people want to spoil tins for others

But the List of the Loan Apps should be mentioned so that People would know the Legal and the illegal ones now.

FiremanX:
Nigerians also should stop borrowing if they can't meet the target or pay back.

Exactly

jaeyking:
The interest of the loan sharks should also be protected

How Nigerians will borrow and refuse to pay is something I can't understand

After the loan shark take drastic measures they start screaming foul play

I will borrow your father 10k for him to pay back 16k in 7days, mumu.

Nice one
I do use Renmoney micro finance bank for my little cash transitions maybe I go request for 1m 😜 if the interest is not dat much😜😜

Mr President always with pen and paper like he knows what he's writing

Imagine getting 50k from all 173 and japa

That's over 8 mill.

Fair money has the best interest rate for now but Dem go use reminder Kee you before the due date. LoL.. hey!

Moneyboyz:
Imagine getting 50k from all 173 and japa

That's over 8 mill.

LoL. Ole .
So if na you Dem come dey offer 600k like fairmoney don increase my credit score, you go collect am? Chai some people no get joy.

Stop supporting rubbish. There are lots of ways lenders can appraise potential borrowers and secure their repayment without resorting to illegal means. If they can not invest in technology to secure their funds then let them pack up. Its their greed to lend to every one and make humongous profit that is killing them

jaeyking:
The interest of the loan sharks should also be protected

How Nigerians will borrow and refuse to pay is something I can't understand

After the loan shark take drastic measures they start screaming foul play

Spiritualsdeeps:
But the List of the Loan Apps should be mentioned so that People would know the Legal and the illegal ones now.

Exactly. I actually came here to see the list but non.
Let them drop list Abeg.

sincerely 9ja which way

SUPERPACK:
owing a loan is a civil offense, blackmailing the debtor is a criminal offence. He who wants equity must come with clean hands.

The blackmailing clause was stated in the products business rule (terms and conditions).

If you agreed to it, you must be prepared to receive it if you default.

The defaulter has no case here.