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What Will Happen If One Fails To Pay Back Loan From Loan App? - Business (2) - Nairaland

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Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UnknownT: 1:55pm On Jan 12, 2020
smiley Nothing actually. A situation where you have zero naira in all your bank accounts, using your BVN wont even work, they will just be calling your contacts telling them that you owe them debt, which is not fair on them. They cant even arrest their debtors because "where dem wan see d person arrest"

4 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by HandWbyisaac(m): 1:55pm On Jan 12, 2020
Lol

1 Like 2 Shares

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by blessochampion(m): 1:55pm On Jan 12, 2020
I think they now have the licence to withdraw from ANY account connected to your bvn.

5 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Kennitrust(m): 1:56pm On Jan 12, 2020
embarassed
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Ugmama(m): 1:56pm On Jan 12, 2020
You'll be black listed and can't receive any more loan from any bank and can't even open account anymore.

NB: the loan must be repaid through any where you got the mulla.

Cheers

2 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 1:56pm On Jan 12, 2020
toniblacman:

It's called 'Branch'

They have flagged your bvn


If you approach a bank they will inform you if you want to borrow

3 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by pwansunriseteam: 1:57pm On Jan 12, 2020
Who have information about a loan company that can give up to 2m without any collateral. O want to go and confirm something in Canada

31 Likes 2 Shares

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 1:58pm On Jan 12, 2020
toniblacman:
Well...sometime in April last year, my man...I took a chikini loan from this app, I used to get loans from the company, for about four occasion, but this last one con get as e be... this money refused to show up when I suppose pay back based on as area just be. Then I started getting notifications on notifications every gaddem days....later notifications turned to threats of being blacklisted my man ..e reach one time na calls dem con dey gimme to know why I never pay up judging by my record with dem. To cut long story short sha after weeks wey man no even see dis tin arrange dem confirm the threats. Now I no go fit say I wan obtain any loan from any company offering similar service unless I pay that money up and dem remove my information from that blacklisted zone. But wetin con surprise me pas be say ... nothing do me.

Guy you want use laugh me with the bold letters.

4 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by oluwafreshkid(m): 1:59pm On Jan 12, 2020
Neduzze5:


I was using Branch before but after borrowing and paying back 5k for four good times, they still wanted to give me same 5k on my next request despite my timely payments.

I rejected it, called their office and requested them to close my account with them. They did so and I moved to Paylater now Carbon.

Ever since then, I've had rest of mind. At least Carbon allows you pay monthly unlike Branch where you have to pay at the end of every week.

Carbon is really an asss saver. No need crawling to some friends with stories to borrow. Now, if anyone requests money, I just send them my link to download the app.

21 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Gentlemanforyou: 1:59pm On Jan 12, 2020
1e DC
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Elvinho2244(m): 1:59pm On Jan 12, 2020
olasco2035:

Oh boy those people don call me tire....they don't even bother to call again...and nothing do me...I even deleted the app


Guy you funny die, them go still call you las las sha o, e don reach 3 months?

2 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by itsme01: 2:00pm On Jan 12, 2020
just change your ATM card and absolutely nothing would happen except blacklisting you with credit worthiness agency

17 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by oluwafreshkid(m): 2:00pm On Jan 12, 2020
pwansunriseteam:
Who have information about a loan company that can give up to 2m without any collateral. O want to go and confirm something in Canada
Renmoney, page

1 Like 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by ossaisly(m): 2:00pm On Jan 12, 2020
Once you get loan, no matter what ,you must pay back. Failure to pay back, they will frustrate you by calling everyone on your contact. After that, they will go on social media. After that, they will locate you and arrest you.

And any amount that you make them spend, you will still bear the cost.

So rethink before you take loan.

22 Likes 2 Shares

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Expert17: 2:01pm On Jan 12, 2020
Quick check or Paylater

Sharp guy
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 2:01pm On Jan 12, 2020
Goan pay ur debt.....onigbese , wicked somebody, dunno why people just greedy and useless like this

36 Likes 2 Shares

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by rahman25: 2:01pm On Jan 12, 2020
Bros, that's not a good idea. From experience it will block your access to large loans when you will needed it most.
UDOKABESTLUV:
Hello, My Fellow Nairalander, What Will happen to the person, if he/she fail to pay Loan he/she borrowed From Loan App Company Because Of One Reason Or The Other.
I Need To Hear From You Guys!

7 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by demoBaba: 2:01pm On Jan 12, 2020
olasco2035:

Oh boy those people don call me tire....they don't even bother to call again...and nothing do me...I even deleted the app




Bro you wicked no b small

2 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Reffone: 2:01pm On Jan 12, 2020
Just like me but them call my papa and sister
toniblacman:
Well...sometime in April last year, my man...I took a chikini loan from this app, I used to get loans from the company, for about four occasion, but this last one con get as e be... this money refused to show up when I suppose pay back based on as area just be. Then I started getting notifications on notifications every gaddem days....later notifications turned to threats of being blacklisted my man ..e reach one time na calls dem con dey gimme to know why I never pay up judging by my record with dem. To cut long story short sha after weeks wey man no even see dis tin arrange dem confirm the threats. Now I no go fit say I wan obtain any loan from any company offering similar service unless I pay that money up and dem remove my information from that blacklisted zone. But wetin con surprise me pas be say ... nothing do me.

3 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Ogunnnowos: 2:01pm On Jan 12, 2020
I collected a loan from gtb which I m paying back monthly from my salary, I want to know,can I still access the loan after paying fully or will it be the same amount or it will be upgraded?
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by youngestgrad(m): 2:01pm On Jan 12, 2020
They will contact all the numbers on your phone book and tell them you are a thief.
2) They will report and submit your name to the credit bureau, that means you can't collect loans and you can't also travel out of d country till you pay your debt........but Las Las nothing go happen

8 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UdemeJoshua(m): 2:02pm On Jan 12, 2020
Nothing will happen just go an return people money.theif.

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by isan(m): 2:02pm On Jan 12, 2020
They deduct their money and a heavy penalty fees from your bvn number linked to all your account ...anytime you get alert they also get notification

1 Like 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by shogsman(m): 2:02pm On Jan 12, 2020
Your bvn will be penned, sooner or later you're going to regret it, because no back will ever give you a loan again.

4 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by okeke6969: 2:03pm On Jan 12, 2020
Nigerians and magomago!! this is how the Op want to abuse an opportunity given to solve emergencies. who do us dis thing? spit!!

40 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by lakesider(m): 2:03pm On Jan 12, 2020
If others have not been paying. The company would have foldef up and the service won't even be available for you in the first place .
Later u go blam govt

45 Likes 2 Shares

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Coldie(m): 2:03pm On Jan 12, 2020
Nothing I know someone who has borrowed with so many dormant account's with the loan apps yet nothing has happened to him.

Once u register with ur bank and collect the money after some time change ur ATM pin nothing would happen to u even when u put money in ur account they can't withdraw it.

I am trying to advise financial institutions on how Nigerians beat the system

8 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by LabDNA: 2:04pm On Jan 12, 2020
A good loan app will ensure they use your BVN to get back their money anytime your account is credited.

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Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by sisisioge: 2:04pm On Jan 12, 2020
1. Some of them get you to agree to an automatic debit of your account at the point of collection.

2. If you fail to credit your account, you would be disturbed via phone calls continuously to pay.

3. If that fails, you guarantor or social media good friends will be called to help appeal to you to pay.

4. If that fails, they would write you off as bad debit and report you to credit bureau.

Now if you get to number 4, you would be hurting your future assess to loans with same and other financial institutions, jobs in highly credible organizations like financial institutions and others that do thorough background checks, lose your chances with some visa applications, etc.

Biko dont borrow with the intention of not repaying. Good luck.

45 Likes 2 Shares

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