Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery - Business (2)

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Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery - Business (2) - Nairaland

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Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by BigBlackPreek(m): 10:21pm On Feb 05

Highly commendable

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Zanzibar1: 10:21pm On Feb 05

See what Okash did to me

For a 78,000 naira loan they want to be taking 55,380 every month
55,380 x3 =166,140

That is twice more than the actual loan. How do they want me to pay back.

Another thing is, they deliberately reduce the font indicating the pay back so that the person will not see the loan amount

3 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Akujuriobi: 10:22pm On Feb 05

It's business,did they forced you to take it? Tell your government to give u interest Free loan.
quote author=Kurugu92 post=128306818]It's time they stop this loan app,you give me 17000 and you expect me to pay 24000 in less than a month [/quote]

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by blowjohn(m): 10:25pm On Feb 05

ibechris:

And agree to pay.

Bros wait oh, out of desperation u accepted it. Man j are at fault.

Na condition make crayfish bend.

U think if ur bank cud offer u loan easily without touching ur salary that people will go for those online loans?

Meanwhile EMEFELIE was busy dashing out huge loans for free to his cronies

4 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Panda7(m): 10:26pm On Feb 05

Give the loan, employ them, then recover back your money. Simply eco.

1 Like

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by mosicola(m): 10:29pm On Feb 05

You are owing them. This I have seen

1 Like

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Lamasta(m): 10:33pm On Feb 05

All you complainers should pay what you owe those companies

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by money121(m): 10:34pm On Feb 05

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by tubolancer(m): 10:35pm On Feb 05

lonelydora:
Allow them to recover their money in whatever way they deem fit

Why would anyone borrow money he/she cannot pay? Nigerians are very dishonest people. They borrow with the mind of not paying back.

Stop demonizing Nigerians, they pay. In your mind you believed they don't pay, if they don't pay why is the proliferation of loan apps, they don't pay and many loan companies are springing up every day. I believe you work in those loan companies (the sharks).

11 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by mosicola(m): 10:38pm On Feb 05

[quote author=Melagros post=128307014]COMRADES, fg should clamp on them seriously [/quotoe]
You are owing them. This I have seen

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Quebec91(m): 10:38pm On Feb 05

VeryWickedMan:
Good.
Sokoloan are now sending birds to my window to observe me & sing my name.

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by ufuosman(m): 10:45pm On Feb 05

correctyourself:

Infact they would ask you to pay back in 7days, if you manage to pay and decide not to take again, they would send their agents to start calling/sending you messages encouraging you to take loan.

These people does not mean well for nigerians.

For example: If you tell them that you don't have money to pay on the due day (7day) they would ask you to borrow from another loan app to pay them.

d loan app is more wicked than federal government 😂😂😂😂 PalmPay is showing me 50k to pay 60k plus in one week😂😂😂I see reasons why people run with dere money😂 one week dat is just a blink of eyes😂😂 I just leave dem because am not even interested

3 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by ufuosman(m): 10:47pm On Feb 05

Curious345:
Loan apps are saving lives . Please,allow them be

yes Bt many of them interest is much that’s why people don’t pay them back

1 Like 1 Share

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by ufuosman(m): 10:48pm On Feb 05

Jokers

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Coronavirus1: 10:49pm On Feb 05

I borrowed 8k end up paying 17k what a shame.

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by SALLYBERRY01(m): 10:50pm On Feb 05

My neighbor picture was posted as rip

4 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by correctyourself(m): 10:50pm On Feb 05

ufuosman:
d loan app is more wicked than federal government 😂😂😂😂 PalmPay is showing me 50k to pay 60k plus in one week😂😂😂I see reasons why people run with dere money😂 one week dat is just a blink of eyes😂😂 I just leave dem because am not even interested

It's worrisome.

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Quebec91(m): 10:50pm On Feb 05

Dennisochampa:
Better.
. Because their recovery methods is nothing to write home about...
Because of 5k....u fit see small pikin wen just finish secondary school dey abuse person wen reach to born am.....

This is a welcome development

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by PusssyLord: 10:52pm On Feb 05

These ones that called themselves LETSHEGO that is hidden inside QUICKTELLER APP gave me a loan of ₦70,000 to pay 90kplus for a period of 3 months. I thought i will pay the 90k at the end of 3months but these guys started harassing me at the end of one month. Two days after the first month, they auto charged my account with ₦31,733. That was not a problem for me. But the criminals still auto charged me ₦31,733 again after some hours.

I called them but the idi..ot started insulting me and even told his colleague (a girl) to tell me off too. I wrote emails to them and copied QUICKTELLER. They acknowledged the error and promised to reverse the extra debit but they never did. Fast forward to a month later, they auto debited me again. Which made it 3 installment payment for the ₦90kplus.

As i am talking to you now. Those animals are still harassing me for the payment of ₦31,733. Where as they have not reversed that double debit they did the first month. I AM PATIENTLY WAITING FOR THEM WITH THE COURT AND EFCC

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Quebec91(m): 10:54pm On Feb 05

Emeskhalifa:
Government of we will, we shall

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Jeje247: 10:56pm On Feb 05

correctyourself:

Infact they would ask you to pay back in 7days, if you manage to pay and decide not to take again, they would send their agents to start calling/sending you messages encouraging you to take loan.

These people does not mean well for nigerians.

For example: If you tell them that you don't have money to pay on the due day (7day) they would ask you to borrow from another loan app to pay them.

They are a nuisance o. One thing I noticed is that one company might own multiple apps. So its possible you are still borrowing from their sister app to settle them, while increasing the debt burden on yourself. Then there is the hidden interest. They all run almost 50% interest. Imagine taking 30k and paying 45k under a week. Even though they advertise lower rates, they add unholy fees which make the total repay humongous. You will see something like: PRINCIPAL N10k, INTEREST N2k, COMMISSION N637, SERVICE CHARGE N2,529. TOTAL REPAY: N15,166.
You might not notice until you want to repay. You will be seeing 15k instead of 12k you had in mind based on the original interest rate.

When you don't meet up with payment, they start adding fees on you. Primepay is one nasty app I would not recommend. Those people robbed me dry. They credited 28k and was shocked to see I was to pay 42k. I was boxed by an unexpected funds delay so couldn't repay on time. By the time I opened the app was more than shocked to see 57k waiting for me. Just imagine telling me to pay more than 100% of amount I collected in a space of about 2 weeks. Paid a little more than the original 42k but those bastards kept on pestering me to pay the balance. Bastards had the guts to call me to take up another loan after paying up. Their effrontery is out of this world.

Not to mention the incessant calls. You can't sleep with 2 eyes closed when you borrow from them. Imagine taking a one week loan on the 5th to be due on the 12th but you will start receiving barrage of calls and messages as from 8th or 9th to pay up. It's enough to unsettle someone and start making bad money mistakes. They are extremely heartless. Avoid PRIMEPAY no matter what. Avoid loan apps for your sanity

14 Likes 2 Shares

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Nlandmodesfku: 11:00pm On Feb 05

Buhari and Tinubu are errors in Nigerian history.

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Ubanz: 11:03pm On Feb 05

One vile aspect of this loan agency is that 80% are Chinese coys. One Chinese company may own more than 7 apps.

8 Likes 1 Share

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by nwakibie3(m): 11:03pm On Feb 05

Zanzibar1:
See what Okash did to me

For a 78,000 naira loan they want to be taking 55,380 every month
55,380 x3 =166,140

That is twice more than the actual loan. How do they want me to pay back.

Another thing is, they deliberately reduce the font indicating the pay back so that the person will not see the loan amount

You saw the conditions yet you accepted to abide by it. No one forced you to borrow the money. Oga go pay debt joor

1 Like

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by duketerry22(m): 11:06pm On Feb 05

A new strategy sometimes is they'll call saying they have loan offers if you say no next thing you know the money is in your account then they start disturbing you to pay back. Happened to my friend they gave her 24k when she didn't take any loan. They'll wait till eternity for that money

3 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by nwakibie3(m): 11:06pm On Feb 05

tubolancer:
Stop demonizing Nigerians, they pay. In your mind you believed they don't pay, if they don't pay why is the proliferation of loan apps, they don't pay and many loan companies are springing up every day. I believe you work in those loan companies (the sharks).

If you pay they won't be sending those threatening messages...

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Zanzibar1: 11:07pm On Feb 05

nwakibie3:

You saw the conditions yet you accepted to abide by it. No one forced you to borrow the money. Oga go pay debt joor

Please be reasonable. Even If I saw the terms and conditions that doesn't mean I should not call people's attention to unfair loan terms.

You don't understand the psychology about desperation and unfavorable loans.

6 Likes 1 Share

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Bintasukai: 11:12pm On Feb 05

Please you guys should make a list of those apps for me, I wan check something.

LOL. Na una get time, I borrowed and did not pay back this time. Those people have made bank on my head over the years. Now, I have turned the tables on them. Over 300k, like this I even Dey look for more apps but e be like say dem don know me. I have set my phone to reject numbers I don’t know when they call. Once I see the notification I will check with TrueCaller, once I see “spam” or “fraud” I know say na dem, I block the number.

Meanwhile any loans that I owe to responsible lenders are being paid in full and on-time. My only grouse is to those ones that follow these useless sharp practices.

Whenever they finally get to reach me and start shouting, I usually explain that until you beg and show me convincing respect before I even consider paying you back.

What is funny is I actually have the money now to pay back, yet I will not. LOL again.

9 Likes

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Decarbonisation: 11:14pm On Feb 05

Good move but it is also important for some of you to be responsible and stop taking loans you have no intentions of paying back.

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by Entusky(m): 11:18pm On Feb 05

Ah chop palmpay loan Dey don call tire ah no dey pick

Re: Nigeria To Clampdown On Loan Apps For Illegal Debt Recovery by NFBI: 11:20pm On Feb 05

Zanzibar1:
See what Okash did to me

For a 78,000 naira loan they want to be taking 55,380 every month
55,380 x3 =166,140

That is twice more than the actual loan. How do they want me to pay back.

Another thing is, they deliberately reduce the font indicating the pay back so that the person will not see the loan amount

I see ya American clients don reply ya Facebook message 😎

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