Godwin4444:
Though these people own too much but at d same time Nigerians dey like default money

Na Nigerian go borrow money from u n when it’s time to pay back na war

One man one borrowed money from my neighbor before n when it’s time to pay it turned to wahala sote one day d debtor na him even say make dem carry am go station say police no dey draw debt n him go sign say him go pay monthly till he pay finish

breathcutter:
I hope they delisted and permanently deleted easybuy loan app, my babe dey owe and na me dey pay.

Bolaji26:
Make them ban carbon too abeg.

Just collected 50k from them for emergency needs last week and I don't even know how to pay back.

Salowise:


I just dey feel for the loan companies, with this news dem no go ever pay.

olisefom:
Whatever!

What I don't understand is how people borrow money without a plan to repay.

tuzle:
shey u wan even pay the money before. The thing wey they always pain me be say before u collect loan u see interest still read their terms and conditions but after them start their own una go kon dey talk say them this them that. They don't force anyone to collect loan, they are running a business and if u know u can't pay back then don't collect.

fyzaila:


I am not one of them. But when you borrow something from someone isn't that a debt? and not paying debt is a sin.

JetSet:


You are wrong it's against Google playstore policy and nigeria law to give out loan to be pay in 7 days. They are very greedy why should the charge 45% interest in 6 to 7 days loan.

tuzle:
oya show me one popular loan app that collect 45% interest in 7days

concreteaffairs:

tuzle:
shey u wan even pay the money before. The thing wey they always pain me be say before u collect loan u see interest still read their terms and conditions but after them start their own una go kon dey talk say them this them that. They don't force anyone to collect loan, they are running a business and if u know u can't pay back then don't collect.

SVC6000:
Fair money
Cash loan
Easy buy
Migo
Cash wallet
All of una una money don go

fyzaila:


I am not one of them. But when you borrow something from someone isn't that a debt? and not paying debt is a sin.

Snapdrag0n:
It's a pity. I can see some criminals already celebrating here. Let me explain before you celebrate.
As a owner of fintech app (though not in Nigeria), I already learn from branch international app. It's proxi.
1. Investors invest their money into this loan companies and they make sure they get back their money from the borrowers. For you to get money from them, you've sign agreement with them digitally with your IDs, money is sent to you fast. You receive it with joy and solve your emergency needs. Now it's time to pay back as agreed you failed. They call you with several reminders you failed and even switch off your phone. If you were the one how will you feel? Are you afraid to get loans from banks because they'll deny or get your collateral when you default? Answer.

2. Your information is saved on the server which automatically can be downloaded. All your details are in their database. You can't escape. You'll pay the price with your image being tarnished. How do you feel when your ex, course mates, even pastors and neighbours receive messages you're a criminal on the run owing a Chinese company and refuses to pay? It's shameful and embarrassing. If you're not sure to make Repayment as agreed why borrow? Don't rejoice. Settle your loan dude.

3. I have 3different apps. One on playstore, one on apple store, the other on my website/Facebook. Mind you I know Google policies, I understand apple privacy policy and my terms & conditions together with my privacy policy might not be accepted by any of these. I split the app to meet their policies. I have more downloads from Facebook and playstore but my services is rendered from the app I'm hosting myself. With this I avoid any country's violation. Internet is not regulated but government like in Nigeria can decide to ban users like what happen with case of twitter.
What am i trying to say? Once a customer download whether from apple, Google, Facebook or my website. All data is saved in one database. You can't escape. I know how to handle criminals. So dude go and make Repayments, you accepted it.

Finally, I make #100,000-250,000 a day from these apps because I target salary employees and verifed businesses. Once I notice you're not in this categories I block you. Interesting fact is that you can't register again with sake ID. So to avoid criminals like those rejoicing here thinking it's free money as a typical Nigerian mentality, I block them to avoid dragging words. We all know how Nigerians behaves. Though they're good ones, but those bad eggs will spoil things for others.

If I mention my app name here, some of you will be surprise it's a Nigerian and it's same person typing here that owns it. But that's life. Keep your secret.

You need mentorship to be self-employed or you want to develop and invest on digital assets. Contact me: info.lightcloud@gmail.com

JDJDjD:

It doesn't work that way
If it works that way banks for dey use am
U gave me loan of 5k to pay 9k in 7days
Extra 4k interest in 7days, where do u expect me to get it from?
Shey if i have where I will get it in 7days, i will run to them ni

They need to change strategy. Reduce the interest and make it monthly repayments instead of That 7days and u will see how the rate of defaults will drastically reduced

JetSet:


I mean loan shark like Hc wallet, Tloan,Cashpaddie, nairaland loan,Ucredit,

seunlayi:
This apps are supposed to be making cool money in this our current economic but their Shylock attitude is the problem. You give 12k loan and want to collect 18k back in 2 weeks and you start adding default interest of the person fails. This is cruel. Subscribers to the loan only pay back with the hope of attaining a higher level when they will be able to get a higher offer..... Then they default.

Minimising the interest will help them to minimise defaults, they should also be straightforward in the term of the loan unlike the one posted month ago by a nairaland about how he was lured to take a loan with hidden neckbreaking condition

sprints1:
my brother we dey the same shoe I dey owe opay palmpay palmcredit branch and aella I don't even know how to pay back sum total 100k

Snapdrag0n:
It's a pity. I can see some criminals already celebrating here. Let me explain before you celebrate.
As a owner of fintech app (though not in Nigeria), I already learn from branch international app. It's proxi.
1. Investors invest their money into this loan companies and they make sure they get back their money from the borrowers. For you to get money from them, you've sign agreement with them digitally with your IDs, money is sent to you fast. You receive it with joy and solve your emergency needs. Now it's time to pay back as agreed you failed. They call you with several reminders you failed and even switch off your phone. If you were the one how will you feel? Are you afraid to get loans from banks because they'll deny or get your collateral when you default? Answer.

2. Your information is saved on the server which automatically can be downloaded. All your details are in their database. You can't escape. You'll pay the price with your image being tarnished. How do you feel when your ex, course mates, even pastors and neighbours receive messages you're a criminal on the run owing a Chinese company and refuses to pay? It's shameful and embarrassing. If you're not sure to make Repayment as agreed why borrow? Don't rejoice. Settle your loan dude.

3. I have 3different apps. One on playstore, one on apple store, the other on my website/Facebook. Mind you I know Google policies, I understand apple privacy policy and my terms & conditions together with my privacy policy might not be accepted by any of these. I split the app to meet their policies. I have more downloads from Facebook and playstore but my services is rendered from the app I'm hosting myself. With this I avoid any country's violation. Internet is not regulated but government like in Nigeria can decide to ban users like what happen with case of twitter.
What am i trying to say? Once a customer download whether from apple, Google, Facebook or my website. All data is saved in one database. You can't escape. I know how to handle criminals. So dude go and make Repayments, you accepted it.

Finally, I make #100,000-250,000 a day from these apps because I target salary employees and verifed businesses. Once I notice you're not in this categories I block you. Interesting fact is that you can't register again with sake ID. So to avoid criminals like those rejoicing here thinking it's free money as a typical Nigerian mentality, I block them to avoid dragging words. We all know how Nigerians behaves. Though they're good ones, but those bad eggs will spoil things for others.

If I mention my app name here, some of you will be surprise it's a Nigerian and it's same person typing here that owns it. But that's life. Keep your secret.

You need mentorship to be self-employed or you want to develop and invest on digital assets. Contact me: info.lightcloud@gmail.com

tuzle:
I asked u to show me one loan app that charges interest like that, and u can't but u are only making speculations.both branch and fair money give out loans and the interest isn't more than 20percent and u have the chance of taking for 2months(for fair money) I do collect their loan once in a while and I have never been charged how u claimed and I have never been harassed because I pay my loan on time and u even have the opportunity of extending. Also u can't compare loan apps with bank loan because banks don't just give loan any how and they will harass u if u fail to pay

JetSet:


Don't feel for them they are very wicked. How can some of the loan company charge 40% interest in 6 to 7 days . Which business will you do to make the money within short time of period .

Salowise:


Tell me one company that charges 40% in 7 days, besides why not ignore them if their interest rate is very high