₦airaland Forum

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

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

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?!

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!

Administration1:
If things pick up again and you improve on your ratings, you can

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

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.

HeatSeeker:
The only way you can improve your credit rating is if you borrow and pay back on time. And if no one lends you money because of your bankruptcy claim, you cannot improve your credit rating.

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

Administration1:
You cannot improve your credit rating only by borrowing and repaying on time. You can load funds and spend same on on their platform for bills etc.

Nigeriahasfutur:
But their disturbance have taya me. Omo to live with this their disturbance no easy oh.

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.

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.

Octopusssy:
Set your phone to 'block all calls not in your contacts." or something like that. I think that option can be found in your phone's 'harassment filter'. The only downside is people not in your contact list won't be able to reach you via phone calls, except by text message or Whatsapp. Any number that is not saved on your phone will be automatically declined. What you can do is download Truecaller and regularly monitor your declined calls to fish out the important numbers t so that you can either call back or save them. Once numbers are saved, they will be able to call you.

Truecaller will also identify the loan app numbers because people have saved these numbers with various names and also reported them as spam. That way, when you are checking your missed calls you'll be able to identify the loan app numbers as well as the important numbers.

When the loan apps can't reach you by phone, they will move to WhatsApp. When this happens, change your privacy settings to the following:

Read receipts: disable read receipts

WhatsApp calls: Silence unknown callers

Profile pic: Contacts only

Last Seen and Online: Contacts only, or Nobody. For the 'Nobody' option, even when you're online and typing, nobody will know. The downside is you can't view anybody's last seen and online. The good side is even when they bombard you with their threatening messages, you can be online, read them and ignore, and they won't know because you have set your online status to 'Nobody'. If you like, as soon as you read the message, block the senders.

When WhatsApp fails, they will bombard you with text messages. Any number that texts you concerning loans, block and report as spam. That way that particular number will never be able to reach you again unless they use another number. Keep blocking and reporting as spam.

For responsible loan apps like Fairmoney and Branch, the next point of call will be emails since they can no longer reach you by Whatsapp, calls or texts. When they start with emails, mark them as spam. That way their mails will automatically go to your junk mail.

Brotherly, you have to harden your heart if you know you want peace of mind. Since you know that the default is because of condition and not deliberate, follow all these steps and work towards paying these people their money at your own pace. When you want to pay back, pay your principal amounts and tell them to hug transformer for the overdue charges. If they call your contacts and your contacts ask you questions, deny borrowing. Tell your contacts somebody used your BVN to borrow and you are fed up of the harassment. Deny everything with your full chest.

All these methods have been tried and trusted by chronic debtors around me. See attached a Truecaller screenshot from someone who blocked all numbers not in their contact list. You will notice that the loan apps all have spam reports. That's how you will know which numbers are loan apps, even if they are regular numbers.

Nota Bene:

THIS IS IN NO WAY AN ENDORSEMENT OF BORROWING AND DEFAULTING. THESE COMPANIES RUN A BUSINESS AND IT IS VERY UNFAIR TO BORROW WITHOUT REPAYING!!!!

Nigeriahasfutur:
Make I use the peace of mind hustle. Them don't know they are threatening Nigeria's Future Greatest Author

If they can just believe in me and give me time, I would pay.

Octopusssy:
That level

Forget about them believing in you. They will disturb you until you have a nervous breakdown. Just take your time to hustle the money in peace and without pressure because they will not allow you drink water and keep cup.

A friend of mine told me she now has peace ever since she set her phone in the way I described. She is owing Fairmoney 1.1m and has been trying to pay back to no avail.

Nigeriahasfutur:
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Fairmoney no disturb reach palmcredit and newcredit. Fairmoney call me like once every 4 days and I am owing them a lot.

It is Palmcredit and Newcredit that is my problem. If those guys stop, I will enjoy peace of mind.

Octopusssy:
They won't stop calling until you pay up so it is left to you to manage the situation

Nigeriahasfutur:
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.

Octopusssy:
That level

Forget about them believing in you. They will disturb you until you have a nervous breakdown. Just take your time to hustle the money in peace and without pressure because they will not allow you drink water and keep cup.

A friend of mine told me she now has peace ever since she set her phone in the way I described. She is owing Fairmoney 1.1m and has been trying to pay back to no avail.

Administration1:
Truth remains, it is readily available at the tip of your hands, however, those big names you mentioned there can give you loans without collateral, even with phone the likes of Wema, SC, etc can give you 1/3 the value of your phone as a loan.

LoanShark:
That's because most times when you do a restructuring of a loan that is not secured with any collateral in the long run the borrowers take it a licence not to repay the loan

LoanShark:
It is these types of people that will be complaining all over the place that loan apps don't give loans of reasonable amount yet when you give them loans of large amount they default.

I wonder how Fair money could have been so careless as to give an unsecured loan of 1.1million

LoanShark:
Before a commercial bank can give such a loan the person must be a salary earner and his salary account must be domiciled with their bank

LoanShark:
It is these types of people that will be complaining all over the place that loan apps don't give loans of reasonable amount yet when you give them loans of large amount they default.

I wonder how Fair money could have been so careless as to give an unsecured loan of 1.1million

Inshame3:
Big lie, you can't owe okash and easymony at the same time as both are from the same company. You ever need to clear your debt before you can borrow from either of the two

Inshame3:
Big lie, you can't owe okash and easymony at the same time as both are from the same company. You ever need to clear your debt before you can borrow from either of the two

Nigeriahasfutur:
But their disturbance have taya me. Omo to live with this their disturbance no easy oh.

SilentEmma:
they play, the money they make in gains is 100 times more than what they are losing...

at a time me self come dey pity them when i no fit pay, i was like wont their business collapse, but little did i know that, i was crying for multiple billionaires, ayway... they still give out millions to people every damn day...

no be everyone wey dey owe fit gadge mind like i get to blank them... who no fit handle pressure na im dey go borrow from one loan app to pay another...

how i wish i could turn bak the hands of time

Administration1:
With the scenario above, you don't need to domicile your salary account with the bank.

Nigeriahasfutur:
Omo that one small. Fairmoney can give up to 5 million if you request and have good credit score. The problem is that I didn't want to take what I know I could definitely not pay.

The plenty ones I am owing is enough. This offer was before I defaulted in one payment. Fairmoney has this top-up offer stuff, where you can borrow money on-top the loan you already have with them.

Nigeriahasfutur:
Oga, E be like sey you no read my long epistle

I no fit borrow again. I'd rather die than borrow again. I am tired oga.