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Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessFaces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) (41647 Views)

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Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by essentialone1: 5:06pm On Jan 07, 2025
If you must take loan, take from only your friends and family members.

If you do not have close friends or family members who can loan money to you when you really need it, it is your fault.

Nobody is an Island, But some people live their lives, as if they are greater than every other person and better than every other person. Total disgusting snobbish attitudes.

Loan kill them there.

The loan company should track them all, and imprison them. Rubbish nonsense and ingredients people.

Relate well with people especially your family members. Keep close contact with your friends and neighbours. Greet people and respond to greeting when others greet you. Stop feeling unnecessarily too important, only to end up using loan apps.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by EdiskyHarry: 5:07pm On Jan 07, 2025
Really sad, but do they have right to do this?
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by abbey621(m): 5:07pm On Jan 07, 2025
Honestly drastic measures like this are needed for Nigerians, loan companies don je gbese, their mind no fit cope again, many Nigerians don set new year goal of borrowing from at least 3 different apps, some don even create ficticious identities....Na wa o grin grin grin

If you ask them now what did you use the loan money to do, dem go talk say dem play sporty bet or spent it on olosho.....Werey people grin grin grin

Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Peakdesign23(f): 5:08pm On Jan 07, 2025
AirBere:
I don't think a human can be this foolish. I doubt this story.

Who gave him 6m? If he can access 6m then he was doing a job that can at least cover for that. The story is not clear.

How can a jobless person borrow 6m just like that, then return to zero after wedding and started begging.

I reiterate, the story no clear as no human can be this stupid. Or the the person who borrowed must be beyond foolish as well.
He owned a warehouse then, but due to mismanagement perhaps, it didn't work out as planned.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by geoworldedu: 5:08pm On Jan 07, 2025
In 2016 I was introduced to loan apps. My salary was five times less than what I have now, but I refused to borrow from any of them because I always have enough, even after settling families. Fast forward to last year, after my salary has quintupled, I can't count the number of loans I am owing like this grin
Nigeria really really happened to me o. cheesy
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by AirBere: 5:09pm On Jan 07, 2025
Peakdesign23:
He owned a warehouse then, but due to mismanagement perhaps, it didn't work out as planned.
Cool. I knew he had something because although there's inflation, 6m is still much.

Thanks for the clarity though...
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by trium: 5:09pm On Jan 07, 2025
danvon:
The damage is done, they have played their trump card.

After publicly disgracing them what else can they do?


If they were a legal loan company they could have easily notified the authorities.
Guard your reputation with all you have!

Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Peakdesign23(f): 5:10pm On Jan 07, 2025
AirBere:
Cool. I knew he had something because although there's inflation, 6m is still much.

Thanks for the clarity though...
You welcome chief.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by qtx(m): 5:10pm On Jan 07, 2025
Biznesworld:

https://www.youtube.com/watch?v=qln-UvYNqX0

Loan companies have taken to social media platform TikTok to shame and mock loan defaulters by posting their passport details online. This alarming practice aims to publicly humiliate individuals who have failed to repay their loans, in an attempt to coerce them into settling their debts.

The move has sparked widespread criticism, with many condemning the tactic as unethical and invasive. Privacy concerns are being raised, as sensitive personal information is being shared without consent.

Regulatory bodies and authorities are being urged to intervene and establish stricter guidelines for loan companies to prevent such exploitative practices.




https://www.google.com/amp/s/punchng.com/loan-app-sparks-outrage-by-posting-87-debtors-photos-online/%3famp
So after posting those pictures does the company still expect the guys to pay them? Am just wondering sha
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by eepeepook: 5:12pm On Jan 07, 2025
If I ran such company, I would bribe the police to arrest defaulters. Somehow, they will always have the needed funds to secure their freedom.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by muyico(m): 5:12pm On Jan 07, 2025
Nah igbo plenty there
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by hedonido:
Onigbese are still forming dignity and human rights. Lol. The public disgrace is fully deserved, given that these ones likely defaulted (i.e. blatantly refused to pay back the loan).

The loan company cannot be expected to simply take the loss like that, and also protect the 'dignity' of such heartless defaulters.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by nedekid: 5:14pm On Jan 07, 2025
Blitzking:
Borrowing is expensive...90k to pay 129k..200k to pay 315k...60k to pay 95k all in 6 months naso loan app be..
Best thing is not to borrow. If you choose to, that means you agree to their terms. There should not be an excuse not to pay.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Domainer1999: 5:14pm On Jan 07, 2025
From which book was this page curled from Sir?

trium:
Guard your reputation with all you have!
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by chipet67(m): 5:14pm On Jan 07, 2025
southsouthking:
Failed country.
Failed leadership.
Failed loan company
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Rexymania(m): 5:15pm On Jan 07, 2025
The most hilarious things....my face no dey there.... LoL 😆😆😆
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Thomthom(m): 5:16pm On Jan 07, 2025
They have fully repaid there loan be that. After you don turn me Financial misappropriation Star for social media, you go still get mind to dial my number to pay you money wey I borrow from you. The Ogun wey go ki u ee
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by AirBere: 5:17pm On Jan 07, 2025
trium:
Guard your reputation with all you have!
The 48 laws of power....

Tell him ooo. He doesn't know lol
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by backtalkG(m): 5:17pm On Jan 07, 2025
Makunahatata:
u sure your screen good.na flhattys full dia o
grin
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by frankoben(m): 5:18pm On Jan 07, 2025
Chai these people don end my career!
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Nnamdipapa(m): 5:18pm On Jan 07, 2025
Blitzking:
Borrowing is expensive...90k to pay 129k..200k to pay 315k...60k to pay 95k all in 6 months naso loan app be..
If friends borrow these same people with no interest, they wont pay back.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by LoanShark: 5:18pm On Jan 07, 2025
danvon:
The damage is done, they have played their trump card.

After publicly disgracing them what else can they do?

If they were a legal loan company they could have easily notified the authorities.
Notify the legal authorities so that they will do what?

Will they go and recover the loans for you?
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by ogaemma: 5:20pm On Jan 07, 2025
Stay away from anything loan app for your own peace of mind.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by AirBere: 5:21pm On Jan 07, 2025
Domainer1999:
From which book was this page curled from Sir?
48 laws of power by Robert Greene.
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Anonymous012: 5:21pm On Jan 07, 2025
Our credit system is bad, the companies charge very high interest rate and the people too borrow with clear plan on how to repay these loans. The government need to overhaul the credit system in Nigeria
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by bluefilm:
So many nigerians do not deserve to get loans

To borrow the loan no dey hard dem at all

They will be pleading and begging and doing like say dem wan die like he-goat wey see she-goat pussy

But when the time to pay the loan back come

Na dat time you go no say even devil betta pass some people
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Trendtips(f): 5:21pm On Jan 07, 2025
Treasure17:
Nigerians are terrible at this.
Very true but it's everywhere not just Nigerians
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by DaddyCoool(f): 5:23pm On Jan 07, 2025
That slim girl come resemble me o!
I hope people no think na me o!!!
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by LoanShark: 5:24pm On Jan 07, 2025
kingphilip:
As someone said above, if they were legit, they would have gone through legal means to retrieve their money but because they're not, they can only use blackmail to do so.

People should as much as possible live within their means to avoid such embarrassment because the people they want to impress with their extravagant lifestyle don't care but will even mock them when the loansharks post their pictures all over the place.
Do you think the cost of legal action is cheap?

Recovering loan is just like recovering tax by the government, the recovery expenses to be incurred must be less that the amount of bad loan you want to recover.

No loan company will incur a legal expense of 400K lawyers fees in order to recover a bad or delinquent loan of 50K
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by Walz001: 5:27pm On Jan 07, 2025
hmmm what a country
Later they want to be like UK USA and the better countries
You can take a loan car or house in those western worlds but here in Nigeria na war

Why do some people always support evil
I lend you money to pay back you start fighting me then someone comes to separate and start pleading I should forget the money ; is that not evil .... Well what do I know self than to stick to my truthful world
Re: Faces Of Loan Defaulters Posted On Tiktok By Loan Company (videos) by nedekid: 5:27pm On Jan 07, 2025
kingphilip:
As someone said above, if they were legit, they would have gone through legal means to retrieve their money but because they're not, they can only use blackmail to do so.

People should as much as possible live within their means to avoid such embarrassment because the people they want to impress with their extravagant lifestyle don't care but will even mock them when the loansharks post their pictures all over the place.
Hang on, what legal means do you mean?
Do you suggest a loan app company should pay lawyers to sue a person that borrowed 30k, 40k, even 500k? How much will you pay lawyers and how many years will it be in court, what of inflation? Even if the company is able to get justice in court, is it enforceable? How many of those people have assets to recover, what of the cost of getting bailiffs along with police to enforce the judgement?
The truth of the matter is that Nigerians are too smart they become stupid. It is just like danfo drivers blocking road, following one way thereby causing traffic, same traffic he will still come back to meet, which will then reduce the amount of trips he can do daily.
Nigerians will take money, feel they are smart and then default, on the long run it makes borrowing more risky for the companies, where there is more risk, borrowing will be more expensive ie higher interest rates. Remember when paylater etc started, the interest was very little, the loan period was for as long as 9 months, after Nigerians dealt with them it all became shorter and more expensive.
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