₦airaland Forum

Nigeriahasfutur:
The problem is that I downloaded and borrowed from the apps before I knew about all this copying of contacts before disbursing loans. If I knew, I would have used funny contacts to borrow. By now I for get peace of mind.

Exactly. You must plan way in advance.. like any good scammer

DaddyCoool:
Exactly. You must plan way in advance.. like any good scammer

Wahala

Nigeriahasfutur:
Wahala

I honestly don't know why the government allows them and allows their exorbitant rates - knowing fully well most people will borrow money if available, and overestimate their ability to repay!

DaddyCoool:
I honestly don't know why the government allows them and allows their exorbitant rates - knowing fully well most people will borrow money if available, and overestimate their ability to repay!

Maybe they settled some people silently.

Nigeriahasfutur:
Maybe they settled some people silently.

I mean, I understand they serve a purpose (sometimes they're the only possible source of desperately needed money) but truth is, in the long run they cause much more harm than good!!

DaddyCoool:
Nah.. I can actually easily be a loan shark considering the ridiculously small amounts they lend. And that's why they do it - even if you don't pay the amount is too small to affect them

Since you know it's so easy what are you waiting for?

Open your own loan company let us see how long you can keep it running

Nigeriahasfutur:
Maybe they settled some people silently.

So because they're asking for their money you have started making allegations of bribery against them.

When you were looking for the loan you saw First Bank, UBA, Zenith Bank, Access Banks, GT Bank and the other commercial banks, why did you not provide collateral so they will give you the loan?!

LoanShark:
So because they're asking for their money you have started making allegations of bribery against them.

When you were looking for the loan you saw First Bank, UBA, Zenith Bank, Access Banks, GT Bank and the other commercial banks, why did you not provide collateral so they will give you the loan?!

Oga, why una apps no dey ever agree to loan restructuring. I have been asking for restructuring but to no avail. I want to pay, but I need the loans to be restructured so I can have time to pay.

When you guys see good customers like me who is asking for restructuring, make una accept. If you work with any of the apps I owe, tell them that they should be more amenable to restructuring, so there can be less defaults.

Oya una don try with all your contributions.
Next step is to do GoFundMe. All these your suggestions no reach anywhere. The elites on here should do proper verification and GoFundMe
Honestly, with the way this country is, this forum should organize GoFundMe monthly for members with verifiable problems

My Oga, just brace urself for the impact. Its gona be soo loud and noisy. I was once in ur shoes, d likes of palmcredit, Okash, Fairmoney, Lcredit, Xcredit and so on. The biggest mistake u made was borrowing one to pay d oda. Last last u go hook. And ur debt go over rise pass ur power.


Let me tell u what i did...

Just keep welcoming and postponing dem. Pick their calls its gona be messy with those useless agent girls especially. But just absorb it and keep telling dem u will pay dt they shld give u more time.

Also be ready to face blackmail. Some will send bad message to ur contacts. Just tell anyone who call i frm ur contact dt u are nt d one that its a mixup. That u av sort it with dem. Nobody will judge u bro. Funny enough, some of ur contact go don default too.. Normal Normal...lol.


But u try o. 1 million naira.

Mine was around 520k.


With time, some will get tired and free u. Bt as per okash, faimoney.. bros, u gas pay o. Those guys can fkag ur BVN via Credit bureau.

Mine don dey flagged since 2016. Be like say e remain like 40k to clear all of dem completely.

Okash still call ds week money wey i borrow around 2015 wen i loose my Job.. for u to knw hw mean dey can be at times. Fdem go pursue u bro. Bt just be strong and ready to leverage from now on till wen u fully pay of


2k , 1k, 1,500 like dt. God is ur strenght o

LoanShark:
Since you know it's so easy what are you waiting for?

Open your own loan company let us see how long you can keep it running

*😅 His moniker is actually loan shark!

Well, you have to first be a crook, and I'm NOT a crook!

DaddyCoool:
*😅 His moniker is actually loan shark!

Well, you have to first be a crook, and I'm NOT ashamed crook!

But you are a crook by admission and you are even teaching other crooks how to scam.
I guess you are not a loan shark because you enjoy scamming loan sharks than being scammed
by other crook.

Xisnin:
But you are a crook by admission and you are even teaching other crooks how to scam.
I guess you are not a loan shark because you enjoy scamming loan sharks than being scammed
by other crook.

We are trying to chase them out of our country before they destroy our mental health, and the government won't do it. Do you have any other ideas?

DaddyCoool:
We are trying to chase them out of our country before they destroy our mental health, and the government won't do it. Do you have any other ideas?

The ethical way to kill a business is to not patronize it.
Excuse of chasing out loan sharks is just excuse to scam,
they are going nowhere unless outlawed.
Besides, some of the loan sharks are also local can't be chased out.

Xisnin:
The ethical way to kill a business is to not patronize it.
Excuse of chasing out loan sharks is just excuse to scam,
they are going nowhere unless outlawed.
Besides, some of the loan sharks are also local can't be chased out.

How do you stop broke people from taking money being shoved in their faces? School us

Babamide:
Oya una don try with all your contributions.
Next step is to do GoFundMe. All these your suggestions no reach anywhere. The elites on here should do proper verification and GoFundMe
Honestly, with the way this country is, this forum should organize GoFundMe monthly for members with verifiable problems

If Nairaland get big men, I wouldn't mind a gofundme oh. Omo, I need am. When I bounce back, I go come do appreciation.

Why is this thread in the Crime section?

Is it a crime to borrow money?

HeatSeeker:
Why is this thread in the Crime section?

Is it a crime to borrow money?

Which section do you suggest?
It seemed weird for me to put it in the business section.

Nigeriahasfutur:
Which section do you suggest?
It seemed weird for me to put it in the business section.

That is exactly where it should be! The business section.

The truth is that the real consequences of defaulting on loan apps is not yet completely understood. We don't fully know to what extent the loan recovery agents can go to get you to pay up.

They already have your bvn and can make a formal request to access your funds lodged in other banks. Whether this request will be granted or not is another issue.

Loan refinancing and restructuring is badly needed in this industry. There is no reason people should not be allowed to pay at their own pace if they cannot meet the initial amortisation schedule.

For now act as if nothing will happen. But do your best to pay up when you are able to get on your feet again.

HeatSeeker:
That is exactly where it should be! The business section.

The truth is that the real consequences of defaulting on loan apps is not yet completely understood. We don't fully know to what extent the loan recovery agents can go to get you to pay up.

They already have your bvn and can make a formal request to access your funds lodged in other banks. Whether this request will be granted or not is another issue.

Loan refinancing and restructuring is badly needed in this industry. There is no reason people should not be allowed to pay at their own pace if they cannot meet the initial amortisation schedule.

For now act as if nothing will happen. But do your best to pay up when you are able to get on your feet again.

We like to copy the West, why can't we copy them on this. Below are their rules about collecting debt:

PapaNnamdi:
So fair money fit give you over 200k in loan, and when I need loan they only give me 50k,
Thunder faya fair money,

I need my 150k balance before the week runs out or else, heads will roll

the amount of money you can get depends on your credit rating as at the time you applied for the loan. Another person may even receive up to ₦2million

My brother, I recently assisted someone who had same issue, since you cannot pay back, go to a high court and file a bankruptcy. This is the only way to assist yourself

Nigeriahasfutur:
Hi guys.
I don't know how to say this.
Currently I am owing not less 7 loan apps with five of them being very huge amounts. It all started when I had a medical emergency and had to do surgery on my nose. That was July last year. I took a huge loan from fairmoney hoping to pay back since I was working. Unfortunately, I lost my job that same July, at the end of the month.

From that moment, I started taking from one loan app to pay the other hoping for a change in situation, but my situation never improved as I never got a job since then. Fast forward today and all my options have finished. I don't want to keep borrowing from one loan app to pay the other. I have numerous loans that are due and some that will be due this January.

In fact, my total repayment for this month, January is up to a million.

Here are the loans that are overdue
Okash 120k
Easemoni 105k
Palmcredit 85k
Newcredit 85k
Fairmoney 243k

Then upcoming payments for this month January are
Easemoni 160k
Okash 190k
Carbon 11k
Branch 45k

In total, I owe 1m to pay this January.
The overdue easemoni and okash are lower because I have paid some of it. But the overdue charges no be here.

I can't continue to borrow from one loan app to service another. It is what placed me in this crushing debt in the first place.

Any advice or help is appreciated.

Just run abeg

DaddyCoool:
We like to copy the West, why can't we copy them on this. Below are their rules about collecting debt:

Honestly...

The regulators have their work cut out for them.

Administration1:
My brother, I recently assisted someone who had same issue, since you cannot pay back, go to a high court and file a bankruptcy. This is the only way to assist yourself

Filing for bankruptcy in Nigeria?! I thought it was only corporate entities that can file for bankruptcy?

Administration1:
My brother, I recently assisted someone who had same issue, since you cannot pay back, go to a high court and file a bankruptcy. This is the only way to assist yourself

What are the requirements for this & cost ?

Psady:
What are the requirements for this & cost ?

If you file for bankruptcy, no financial institution will borrow you money again. It is a way out, but not necessarily a good one.

Administration1:
My brother, I recently assisted someone who had same issue, since you cannot pay back, go to a high court and file a bankruptcy. This is the only way to assist yourself

Psady:
What are the requirements for this & cost ?

HeatSeeker:
Filing for bankruptcy in Nigeria?! I thought it was only corporate entities that can file for bankruptcy?

Psady:
What are the requirements for this & cost ?

No mind am. The whole system exists in illegality and you're bringing law. Same way law hasn't stopped them from extremely harassing people, that's same way bankruptcy won't stop them

It seems like I will follow what @ Babamide said and start my own gofundme. At least to reduce the pressure.

Nigeriahasfutur:
Are you a fellow defaulter .

Make I strong mind like your own.

We na defaulters for over 6years, na you dae fear

HeatSeeker:
Filing for bankruptcy in Nigeria?! I thought it was only corporate entities that can file for bankruptcy?

Individuals can also file a bankruptcy claim

Psady:
What are the requirements for this & cost ?

Not even upto 10k if you know the right source at the court.


P/S: I am NOT a source