Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,143,267 members, 7,780,600 topics. Date: Thursday, 28 March 2024 at 05:19 PM

What Will Happen If One Fails To Pay Back Loan From Loan App? - Business (17) - Nairaland

Nairaland Forum / Nairaland / General / Business / What Will Happen If One Fails To Pay Back Loan From Loan App? (244539 Views)

The Best Way To Avoid Embarrassments From Loan apps / How To Remove My Bvn From Loan Apps / Help! Embarrassing Calls From Loan Companies (2) (3) (4)

(1) (2) (3) ... (14) (15) (16) (17) (18) (19) (20) ... (22) (Reply) (Go Down)

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Trojan8(m): 4:41am On Apr 11, 2020
platorepublic:
I wish to repay opay and fairmoney but this lockdown and stay at home is not helping matter at all. Fairmoney even threatened to take legal actions against me.
I have sent series of emails to fairmoney to explain conditions that warrant my late payment but it yield no positive results. I'm even depressed, the threat is too much for me to bear

Check your fairmoney app, canceled all interest and stopped counting for late loans.

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by ikezudon(m): 5:40am On Apr 11, 2020
Check out a list of shared offices you can rent daily.

https://thearchitect.com.ng/coworking-spaces-lagos/
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by agbajekitson: 10:55am On Apr 11, 2020
Trojan8:


Check your fairmoney app, canceled all interest and stopped counting for late loans.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by damcell25: 11:01pm On Apr 15, 2020
[quote author=platorepublic post=88277802]I wish to repay opay and fairmoney but this lockdown and stay at home is not helping matter at all. Fairmoney even threatened to take legal actions against me.
I have sent series of emails to fairmoney to explain conditions that warrant my late payment but it yield no positive results. I'm even depressed, the threat is too much for me

Did they call your contacts or Guarantors (fairmoney)
Because am in the same mess now and they are threatening to call my Guarantors
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by adeyemi0005(m): 9:26am On Apr 16, 2020
[quote author=damcell25 post=88489101][/quote]calm urslf my brother.. don't b panic oo. Don't stress yourself because of their yeye threat. The worse dy will do is to call u or one or two of ur contact. Case closed. Even Nigeria they own debt.. forget them.

9 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Awesomefoodie: 10:35am On May 02, 2020
DiamondOkpi:



☝️☝️☝️Please what if you owe Carbon and can't pay back because of COVID lockdown, will they start calling your guarantor and contacts, also will the interest increase Please I need urgent answers

Carbon won't call your contacts or guarantor, but they will send you msgs and calls. And yes they keep adding interest to the loan if you do not pay on time and it keeps adding up too. But what I don't know is if they will come to your house through the address you submitted to them to recover their money if you refuse to pay.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 3:59pm On May 02, 2020
what will happen if one did not pay kwikmoney on time evem after extending d loan.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by airminem(f): 6:28am On May 08, 2020
dyydxx:


I think it's blacklisting on the said loan app or other loan apps. Only Carbon or Kwikmoney has the necessary resources to update the credit bureau. I have seen this several times. The others dont have the resources too, and that's why they resort to unethical loan recovery practices.

They will still grant you, but will tell you to pay back first especially if it was from these loan apps
Good day, please just your input. I applied for branch loan and i just paid the load amount before it due date. Can i re apply immediately for a fresh loan?
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by airminem(f): 6:30am On May 08, 2020
oluwafreshkid:


Check your network
Carbon that I use on a regular.
Please after i repay my loan before due date, can i re apply and get a fresh loan immediately,
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by honsule(m): 8:22pm On May 08, 2020
airminem:
Please after i repay my loan before due date, can i re apply and get a fresh loan immediately,

For now they don't give immediate loan.
Even migo has packed up

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by NewLogicalMind: 8:33pm On May 08, 2020
honsule:


For now they don't give immediate loan.
Even migo has packed up

I won't be surprised if small fintech companies in Nigeria start packing up

Nigerian are a terrible set of people, they like to borrow but they don't like to repay loans! angry

2 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by oluwafreshkid(m): 10:33pm On May 08, 2020
airminem:
Please after i repay my loan before due date, can i re apply and get a fresh loan immediately,
Yes

1 Like 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by airminem(f): 4:04pm On May 09, 2020
angry

I was not approved for a fresh loan after paying two weeks before due day

undecided
oluwafreshkid:

Yes

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by honsule(m): 2:36pm On May 12, 2020
airminem:
angry

I was not approved for a fresh loan after paying two weeks before due day

undecided


The lockdown is affecting them too. Because I believe many people will be unable to repay, hence once u repay yours the will immediately reduce the amount, that is if they are to give u another loan.

fairmoney loan of 50k i paid interest of 10k. Total of 60k. A week before the due date. And 7 days interval was given before the APPLY button was active again. When I said, let me see their offer this time around, I was surprised to see 2,500 as highest loan. LOL. I just deleted their app from my phone with immediate alacrity. They called me 2 times, I blacklisted their number. Rubbish shocked

4 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by airminem(f): 7:10am On May 13, 2020
This absurd and totally unbecoming bro

What happen to the 50billion CBN intervention funds na?
They too can access the FUNDs

honsule:



The lockdown is affecting them too. Because I believe many people will be unable to repay, hence once u repay yours the will immediately reduce the amount, that is if they are to give u another loan.

fairmoney loan of 50k i paid interest of 10k. Total of 60k. A week before the due date. And 7 days interval was given before the APPLY button was active again. When I said, let me see their offer this time around, I was surprised to see 2,500 as highest loan. LOL. I just deleted their app from my phone with immediate alacrity. They called me 2 times, I blacklisted their number. Rubbish shocked
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by teekay2cool: 9:57pm On May 23, 2020
RedPanda:


very true. had this experience with sokoloan. As in, it was terrible....I just didnt have the money, it wasnt even that i didnt want to pay. Give me more time na lie, always bombarding me with calls and then they started spaming my contacts with messages like I used them for reference which i never did and then saying I was an alleged fraudster on the run for 5k grin grin grin........mehn it wasnt funny.... when about 5 people called me, I was so infruriated and then now decided I was never going to pay back. I sent messages to all my contacts they my gmail contacts had been hacked and i'm being defamed by scammers desperately trying to tarnish my image. All my contacts got the message so people stopped contacting me. They were even piting me sef, that was how i was able to overcome. After a while I blocked all their contacts, there is this particular rude girl sending threatning messages everytime that they will arrest me, they will do this....untop 5k abeg shift comot. e don reach about 4 months now. The last person to call me I said if i pay now will they retract their lies and defaming mesages, if they defame me they should take that as the money abeg, no time. Now me and folks laugh about them as Scammers.

But seriously something meeds to be done about Sokoloan, they have very unethical practices. Somebody needs to sue them and put them out of business, get them banned on playtore or something. Very rude HND or OND loan recovery agents that cant even spell well.

I'm in the exact situation bro, and I'm going to adopt ur strategy. Abeg drop ur number lemme holla at u

2 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by TommyAnthem(m): 4:49pm On May 30, 2020
Hello sir, what if someone falls into unforseen circumstances thereby defaulting in loan repayment as at when due but was able to clear the loan later, will the person still be flagged by the credit Bureau as a defaulter?
zeedof:
yes you can.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by zeedof(m): 5:18pm On May 30, 2020
TommyAnthem:
Hello sir, what if someone falls into unforseen circumstances thereby defaulting in loan repayment as at when due but was able to clear the loan later, will the person still be flagged by the credit Bureau as a defaulter?
credit bureau doesn't know what happened to you, you took and a loan for 6 month and you are yet to pay off after 12 months, bro it will be on your status that you defaulted and probably loan written off and closed which are worst case. No organisation will see that and grant you any thing...
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by TommyAnthem(m): 6:16pm On May 30, 2020
No, loan was taken for 12months and after 3months of servicing, issues arised, hoping to resume paying after nationwide lockdown, What is my faith?
zeedof:
credit bureau doesn't know what happened to you, you took and a loan for 6 month and you are yet to pay off after 12 months, bro it will be on your status that you defaulted and probably loan written off and closed which are worst case. No organisation will see that and grant you any thing...
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by TommyAnthem(m): 6:48pm On May 30, 2020
That means needless paying back the loan since whichever way you choose to go you are punished, you pay back late they punish you, you don't pay back they still punish you, I'd rather not pay back, I SWEAR!
TommyAnthem:
No, loan was taken for 12months and after 3months of servicing, issues arised, hoping to resume paying after nationwide lockdown, What is my faith?

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by zeedof(m): 10:08pm On May 30, 2020
TommyAnthem:
No, loan was taken for 12months and after 3months of servicing, issues arised, hoping to resume paying after nationwide lockdown, What is my faith?
it will only have effect on your credit bereau when the loan expired and you didn't pay... for now you are still good though it affect the banks or organization that granted the loan because their Portfolio at risk (PAR) are supposed to be recover money given at the stipulated date approved
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Debbiesimi: 9:04pm On Jun 01, 2020
Good evening is it possible I get arrested for defaulting a loan taken
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by teekay2cool: 3:36pm On Jun 02, 2020
Debbiesimi:
Good evening is it possible I get arrested for defaulting a loan taken

No, it is not. Times are hard, just try your best and pay up when u have the money.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by olamilarks(m): 12:42am On Jun 06, 2020
Paid back my 9credit loan. Felt better knowing I'm not tying someone's business money down. Remains Branch, Quickcheck and OPay!

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by dyydxx: 11:31am On Jun 06, 2020
zeedof:
credit bureau doesn't know what happened to you, you took and a loan for 6 month and you are yet to pay off after 12 months, bro it will be on your status that you defaulted and probably loan written off and closed which are worst case. No organisation will see that and grant you any thing...

it depends, because i'm aware of a situation of a client who wanted to get 3m loan and after credit check, it was flag he had defaulted on a 10k loan from one of these apps. i think it's migo. They told him to clear the loan first and settle the debt before now granting him the loan. Why would they now hold you for 10k? especially if it is a collateralized loan.... it depends on the circumstances
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by dyydxx: 11:32am On Jun 06, 2020
Debbiesimi:
Good evening is it possible I get arrested for defaulting a loan taken

Nobody can arrest you untop the chicken change this loan apps give abeg..... na reschedule repayment things
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by dyydxx: 11:37am On Jun 06, 2020
airminem:
Good day, please just your input. I applied for branch loan and i just paid the load amount before it due date. Can i re apply immediately for a fresh loan?

sorry just seeing this but i think you should be able too.

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by platorepublic(m): 11:51pm On Jun 06, 2020
I have never defaulted all these loan app before Coronavirus pandemic. The total lockdown really affected my business which makes me to defaulted. Most of there representatives are very rude and lacks manners In the way they call someone. They don't want to listen at all to your explanation, all they do is to threaten someone. I have in mind of clearing my debt after all this lockdown is over and soon as Schools resume

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by teekay2cool: 8:07pm On Jun 07, 2020
I was also affected by the Covid-19 issue and some of the loan apps have been on my neck ever since.

9CREDIT is the main app disturbing my life, they harassed me on phone and on two occasions sent embarrassing text messages to some of my contacts. I managed to hustle 2k from someone and quickly made part payment. After one week a rude lady called me and was still shouting and making threats, I just hung up and vowed I was never going to make the rest of the payment until I securely had the money to do so. They can go ahead and text all my contacts if they like, that is pure defamation of character and they can be sued for that.

I am not a thief and before the pandemic I have always paid on time, I will not allow a petty organisation continue bullying me over money that is not upto 10k. The situation is really sad, they suddenly turn ur life upside down and make u overwhelmed in your activities. Something really needs to be done about these loan apps and their recovery methods.

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by phyiktor(m): 2:35pm On Jun 10, 2020
teekay2cool:
I was also affected by the Covid-19 issue and some of the loan apps have been on my neck ever since.

9CREDIT is the main app disturbing my life, they harassed me on phone and on two occasions sent embarrassing text messages to some of my contacts. I managed to hustle 2k from someone and quickly made part payment. After one week a rude lady called me and was still shouting and making threats, I just hung up and vowed I was never going to make the rest of the payment until I securely had the money to do so. They can go ahead and text all my contacts if they like, that is pure defamation of character and they can be sued for that.

I am not a thief and before the pandemic I have always paid on time, I will not allow a petty organisation continue bullying me over money that is not upto 10k. The situation is really sad, they suddenly turn ur life upside down and make u overwhelmed in your activities. Something really needs to be done about these loan apps and their recovery methods.



best thing to to...revoke the permission u gave there app on ur phone and Dy will not b able to get ur contact from your phone to call or text

2 Likes

(1) (2) (3) ... (14) (15) (16) (17) (18) (19) (20) ... (22) (Reply)

Page1 Updated 19/5/20 Tutorial -Simple Ways I Use To Make Money Online From Home / My Experience In Egg Distribution Investment. / Football Betting System That Guarantees No Loss Of Bet Capital And Steady Profit

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 76
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.