Hello everyone,

I'm really depressed now...I collected loan from loan app to clear my medical bills..ever since I returned I have be collecting loan from different apps to repay loans. Right now I'm trapped. I have accumulated too much debt close to 900k and to repay back is almost impossible because the interest rate is alarming.

Please guys I need your help both in advice and support. Anything at least to be out of this hell I call debt.

First advice:
Quickly remove your profile picture if you are the one in the picture. This post requires a certain level of anonymity from you.

I have some questions:
1.
What is your academic qualification?

2.
If you are a graduate, what did you study? If you are not a graduate, what skill do you have?

3.
What is your location?

God bless you for your first advice. I have considered it.

Post graduate information Technology

PeaceNmaEze:
God bless you for your first advice. I have considered it.

Post graduate information Technology

I think you should consider working as a teacher in a private school or as a computer operator in any ICT centre. None of these two jobs guarantees a sustainable income for you. But they will give you the opportunity to network with professionals for a better job. A learned and or connected customer that is satisfied with your performance in any of the suggested jobs can help you with a better job.

I suggest those two jobs because they do not require start-up capital, and they are the ones that can give you access to professionals. I know you will need transport fare for the first month before getting your first pay. But people can easily help you with that.

I wanted to suggest that you should try to work as a salesgirl. But this will likely expose you to sexual abuse, too much stress, lack of time for yourself, little or not opportunity to network with professionals.

I need a good job no doubt but I have a little business I'm managing which seems better than those options. If you understand my message, I'm not looking for money to eat, I was admitted and took a loan hoping I will pay back but I have been borrowing more to repay loans which has accumulated.

I need help for my loan

PeaceNmaEze:
I need a good job no doubt but I have a little business I'm managing which seems better than those options. If you understand my message, I'm not looking for money to eat, I was admitted and took a loan hoping I will pay back but I have been borrowing more to repay loans which has accumulated. I need help for my loan

Okay. Now, I have gotten a better understanding of your situation. I do not really know what to suggest regarding the loans.

But can you go for a proper bank loan to settle the loan companies and gradually settle the bank? I believe microfinance banks have better interest rates and friendlier payment methods. Those loan companies operating with apps are better in terms of quick processing of loans. But their payment options are harsher.

Since payment is your major challenge, consider using microfinance banks.

immortalcrown:
Okay. Now, I have gotten a better understanding of your situation. I do not really know what to suggest regarding the loans.

But can you go for a proper bank loan to settle the loan companies and gradually settle the bank? I believe microfinance banks have better interest rates and friendlier payment methods. Those loan companies operating with apps are better in terms of quick processing of loans. But their payment options are harsher.

Since payment is your major challenge, consider using microfinance banks.

Na you get time to de follow am speak English. She wants you to ask for her account number.

That moniker is a male. Looking to leech on you with emotional stories. That's how they do here.

Tell me which loan shark can borrow you up to 900k. Even if you borrow from 20 sef, there's no way your total accumulated debt would reach 900k because most of them lend borrowers between 3-20k.

PeaceNmaEze:
■Hello everyone,
I'm really depressed now...I collected loan from loan app to clear my medical bills..ever since I returned I have be collecting loan from different apps to repay loans. Right now I'm trapped. I have accumulated too much debt close to 900k and to repay back is almost impossible because the interest rate is alarming.
Please guys I need your help both in advice and support. Anything at least to be out of this hell I call debt.

900K is not too much debt to pay back if indeed you wish to pay back your debt and get your life back from it all. Some folks are millions of dollars in debt even in that same Nigeria that work every day to pay it off little by little. Focus your mind on finding ways to pay your debt. Cut back or off on all pleasures including girlfriends if you have to. Work on getting yourself into profitable ventures and jobs that will help you come up with regular payments for your loan. Keep track of your spending and your payments as you pay it off little by little. You eventually will get over that mountain..

PeaceNmaEze:
I need a good job no doubt but I have a little business I'm managing which seems better than those options. If you understand my message, I'm not looking for money to eat, I was admitted and took a loan hoping I will pay back but I have been borrowing more to repay loans which has accumulated.

I need help for my loan

I don't understand you o. You borrowed money for your health issue and you went ahead to borrow another money to pay the previous one you borrowed? You keep doing that while your debit keep increasing right?

How come you registered in 2016 , and your first post on this forum is this depressed story

Na them.

immortalcrown:
Okay. Now, I have gotten a better understanding of your situation. I do not really know what to suggest regarding the loans.

But can you go for a proper bank loan to settle the loan companies and gradually settle the bank? I believe microfinance banks have better interest rates and friendlier payment methods. Those loan companies operating with apps are better in terms of quick processing of loans. But their payment options are harsher.

Since payment is your major challenge, consider using microfinance banks.

Who will guarantee a Debtor to take a loan to pay loan, he should just take this to his immediate family there is no way they will not do something, even if it's half of it

Gbadugbakun:

Na you get time to de follow am speak English. She wants you to ask for her account number.

That moniker is a male. Looking to leech on you with emotional stories. That's how they do here.

Tell me which loan shark can borrow you up to 900k. Even if you borrow from 20 sef, there's no way your total accumulated debt would reach 900k because most of them lend borrowers between 3-20k.

This is closes to what I have in mind.
However, if there is any possible case where he/she may have borrowed up to 900k from many lenders, it means she has a good credit record with them and with a fairly means of income. Op, like you said that you have a business that is better than teaching and working as salesgirl, why not concentrate in the business and start paying up your loans gradually. Even if they are coming after you, ask them you want to negotiate a new repayment plan. Well, except you're looking for where to leach on
I wish you the best