FCCPC Vows To Clamp Down On Loan Apps Harassing Customers - Business (2)

FCCPC Vows To Clamp Down On Loan Apps Harassing Customers - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › FCCPC Vows To Clamp Down On Loan Apps Harassing Customers (14511 Views)

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Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by faceland: 2:51pm On May 05, 2024

parkervero:
I experiment something with fairmoney.

I tried to borrow 10k from them to pay almost 14k in two weeks.

I tried to fix savings 10k only to get less than 1k in 6 months.

All loan apps are criminal.

The best thing is to stay away from them.

40% interest rate in two weeks (thanks to the CCP for enslaving negros). They have made their 4k

The Chinese control our small exploitative loans, our small wallet BANKING, our gambling, our NEWS and soon, our government too.

2 Likes 1 Share

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by cnonyechi(f): 2:51pm On May 05, 2024

ALLNIGERIANSMAD:
he no go ever better for anybody who pay loan shark, you give loan to someone who needs help, you give #20k, and you want to collect #35k in just 7days. Are you ok. Who wicked pass

The thing tire me oo

2 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Goodlady(f): 2:52pm On May 05, 2024

99thEnemy:
Congratulations once again

3 groundnuts from boogyman557 ‘s old Kala in the air.

I don waka!

2 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by walexbiz(m): 2:53pm On May 05, 2024

The fCCPG gave multi choice and they flouted it, even the court gave rulng it was ignored and yet you want to go after loan shark. Nothing will come out of it. You are only interested in collecting bribe.

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by 99thEnemy(m): 2:54pm On May 05, 2024

Goodlady:
I don waka!

👹

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by zeyt: 2:55pm On May 05, 2024

Naija Loan Sharks are categorized into two: There are vampires and Scavengers. The vampires are apps like Carbon, Fairmoney and so on who pretend to be premium lenders but in reality are vampires. They will bleed you dry with about 50% interest rate. You default in repayment no matter how long you have been with them, they still dump you for new customers. They have millions of customers and you are nothing to them except disposable broke dude.
In other hand the loan sharks called scavengers with random name like Naira this or Naira that. After you are dumped by the so called premium lenders then the scavengers take over and will feed on your broke dead body. They will offer you loan to repay in one week for the same interest rate as vampires. They act like kidnappers when you default, threatening to destroy your life with sensitive information you give them before they offer you chicken shit loan.
From experience the only reputable loan app in Nigeria is Branch. by the look of it they are not Nigerians that's why. They will always give you chance like they understand your situation.

12 Likes 3 Shares

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by cnonyechi(f): 2:55pm On May 05, 2024

nairalanda1:
The reason why the loan apps have such criminal levels of interest is because they are not banks, that can demand collateral.

When you take a loan from a bank, bank will ask for collateral, which if you fail to pay back the loan, bank sells collateral

Most loan apps don't have that advantage, hence the high interest.

It's criminal, yes, but it is also a way of telling potential borrowers...see o, if you want to patronise us, make you have the money to pay o.

Banks give as high as 300k to even a million without collateral. Loan apps are just thieving Chinese people

7 Likes 1 Share

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Machinegun91(m): 2:55pm On May 05, 2024

They should do it very fast

Especially Faire money

2 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by iLegendd(m): 3:01pm On May 05, 2024

Customers should learn to pay or avoid loan apps.

1 Like 1 Share

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Machinegun91(m): 3:01pm On May 05, 2024

They should do it very fast

Especially Faire money

I tried borrowing 6k from faire money, before you know.... They credited me 60k to pay back 92k instead of 6k.

I pity them sha, I wonder how they will manage to collect their 92k from an Okada boy like me.

9 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Goodlady(f): 3:02pm On May 05, 2024

99thEnemy:
👹

Spiderman come n rescue me!

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by 7arrows: 3:07pm On May 05, 2024

parkervero:
I experiment something with fairmoney.

I tried to borrow 10k from them to pay almost 14k in two weeks.

I tried to fix savings 10k only to get less than 1k in 6 months.

All loan apps are criminal.

The best thing is to stay away from them.

They are very mean people. Even Ren money is the same wicked bunch of people. All they are after is making so much money from those n urgent need.

1 Like

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Okortor: 3:10pm On May 05, 2024

Pls do, as well as some registered microfinance banks too, using police and recovery officers to threaten and assault customers. Turning a civil case into a criminal case.

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by DeAnonymousGuy(m): 3:10pm On May 05, 2024

So loan sharks still de. Thought they've been clamped down already. I been suffer for these people hand. Thank God for breakthrough

3 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Kobicove(m): 3:17pm On May 05, 2024

richiemcgold:
They should be banned once and for all.
Whoever needs loan should approach commercial banks.

Which commercial bank will give you people a loan of 10K? undecided

1 Like

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by CJStarz: 3:17pm On May 05, 2024*

Crazy interest rates!
Imagine one borrowed 130k from fairmoney and was asked to pay 208k within 3 months? Almost 80k as interest!More than half of what you borrowed!
Greedy people.

4 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Kobicove(m): 3:20pm On May 05, 2024

cnonyechi:
Banks give as high as 300k to even a million without collateral. Loan apps are just thieving Chinese people

Before you can get a loan of that magnitude your salary must be a reasonable amount and your salary account must be domiciled in that bank!

1 Like 1 Share

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by nairalanda1(m): 3:27pm On May 05, 2024

Davehasmadeit:
They should ban loan apps totally. Nigerians have been surviving before they came

I agree, but the problem is , there isn't any bank except for a few of them, that would do short term loans

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by richiemcgold: 3:29pm On May 05, 2024*

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Yeancahmie007(m): 3:31pm On May 05, 2024

Sometimes these loan sharks should just turn it to give aways and God will bless them. Otilo.

1 Like

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by nairalanda1(m): 3:33pm On May 05, 2024

Kobicove:
Which commercial bank will give you people a loan of 10K?

I think Polaris and GTB have something similar to today's loan apps.

1 Like

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Yeancahmie007(m): 3:36pm On May 05, 2024

Help! My phone that I was managing got stolen and i saw 020number calling me. When i picked the call gbam I am over due for payments of loan that that I didnt collect. What do I do? What do I do?

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by victorsola: 3:39pm On May 05, 2024

nairalanda1:
The reason why the loan apps have such criminal levels of interest is because they are not banks, that can demand collateral.

When you take a loan from a bank, bank will ask for collateral, which if you fail to pay back the loan, bank sells collateral

Most loan apps don't have that advantage, hence the high interest.

It's criminal, yes, but it is also a way of telling potential borrowers...see o, if you want to patronise us, make you have the money to pay o.

and that’s why a lot of people run away with their money , Shebi u wan charge 150% ni , na Dey money wey u see collect u go fit collect back

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Calyb(m): 3:43pm On May 05, 2024

Some of this loan shark workers are here to read comments. I know, now for those of you who have called my relations about owing you, just note that I am not paying again. Come and beat me.

5 Likes 1 Share

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by thedio(m): 3:51pm On May 05, 2024

I think the clampdown is needless. If anyone borrow money and refused to pay back,he/she is not better than thief on the stre.
All FCCPC should do,is to enforce reduction in the loan apps interest rate. They are exploiting poor citizens

2 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by MVLOX(m): 3:53pm On May 05, 2024

If you guys were doing your jobs all this won't be happening

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Antai123(m): 3:54pm On May 05, 2024

This is a nice development, atleast someone would have to rest. Unnecessary loan advert that turns out to be fraudulent.

1 Like 1 Share

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Lilgabby(m): 4:03pm On May 05, 2024

helinues:
The borrowers should also pay their loans.
Reasonable of both the loan app and the borrowers are actually wicked

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by MILLERMannn: 4:03pm On May 05, 2024*

The government should ban all the loan apps. This is the time to completely ban them. They are exploiting Nigerians. They making Nigerians poorer and the government is opening it's eyes without doing anything. How did will get here? How can a loan app lends its customer's money and be asking for such an amount?
Walahi we don't have government. In a sane country, all these will never happen. The interest loan apps are collecting is too much. It is making the citizen poorer. Government should ban them now.
I checked commercial bank borrowing interest rate and I compared it with the loan apps. I discovered that the loan apps are totally exploiting gullible Nigerians.
1, you did not sign any paper contract with them, why are you even scared of repaying them back.
2, they claim they have your picture, but is it really your picture?
3, they claim they have your bvn and account number, what if it is a Yahoo boy or someone else that use your account and is no longer around.
My friend don't be scared of them. Only pay the money they send to you and don't pay ANY stupid interest.
They can never win you in court. They don't have any tangible evidence to hold you.
If someone is WICKED, you too, show the person or organization greater WICKEDNESS. They will leave you.

3 Likes

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Lilgabby(m): 4:04pm On May 05, 2024

ecolime:
Enough of all these vows.

Just do your job and STFU.

BTW, if you borrow money without a means to repay or have the intention of paying, then you are not just a wicked thief but a mad man. If everybody behaves like you, how will the company be able to stay in business?

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Hotice085: 4:05pm On May 05, 2024

helinues:
The borrowers should also pay their loans.
Reasonable of both the loan app and the borrowers are actually wicked

Mr man close ya mouth, do you know better than the government agency?
Any loan app that can't wait patiently to get back their money should pack and go

Re: FCCPC Vows To Clamp Down On Loan Apps Harassing Customers by Musauzor(m): 4:07pm On May 05, 2024

Okash go hear word this time just that this government and all its agencies are incompetent and clueless

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