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Nairaland Forum / Nairaland / General / Business / How I Got Badly Disgraced By Sokoloan (59813 Views)
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Re: How I Got Badly Disgraced By Sokoloan by Toktee(m): 8:22am On Dec 29, 2020 |
blaise26abj:The loan company has access to your contacts immediately you filled their form online. |
Re: How I Got Badly Disgraced By Sokoloan by drsibz66(m): 8:23am On Dec 29, 2020 |
CBN does not and will never licence any online loan app Debodimeji01: |
Re: How I Got Badly Disgraced By Sokoloan by ArticleBeast: 8:24am On Dec 29, 2020 |
walex2:But they didn't put gun on their head to borrow 2 Likes |
Re: How I Got Badly Disgraced By Sokoloan by fineguy11(m): 8:24am On Dec 29, 2020 |
5thAngel:This thing happened to my neighbor...they messaged all his contacts on top 3k loan....how do they access the contacts of their obligors ? |
Re: How I Got Badly Disgraced By Sokoloan by Ernerstdavid55(m): 8:25am On Dec 29, 2020 |
EhisChelsea1:baba u try o 50k u blow untop 15k anyways my own na 22000k+ i pay ontop 12k loan on okash |
Re: How I Got Badly Disgraced By Sokoloan by SugarSpill(m): 8:25am On Dec 29, 2020 |
Most of all these loan vendors are very exploitative. Imagine charging borrowers upto 28% interest rate per month. I love my Access Bank, they give Loan via their apps to account holders at 4.5% per month. Even during the lockdown they were steadily giving loans unlike some banks that suspended theirs and only gave Loans to salary earners, especially gov workers. During this Christmas Access Bank has given me over 200k Loan. Even when you default, they give 7 days Grace before the reminder sms start coming and it is never threatening. God bless Access Bank. 14 Likes 1 Share |
Re: How I Got Badly Disgraced By Sokoloan by jamesbridget13(f): 8:26am On Dec 29, 2020 |
Toktee:so because you don't agree with my point of view means that u shld insult me? Becareful! If u claim he has rights, his creditors also has rights. Be supporting evil. Instead of u to advice him properly so next time he would behave better u are here insulting me. 2 Likes |
Re: How I Got Badly Disgraced By Sokoloan by Bluffly: 8:26am On Dec 29, 2020 |
My friend sue for libel and defamation of character asap. Go to Human rights commission. Na today dem dey default loan repayment? I understand that the society is volatile especially at giving micro loans but going to the extent of putting up libel and defamation of character to recover funds is a no no. 4 Likes |
Re: How I Got Badly Disgraced By Sokoloan by buttlover(m): 8:26am On Dec 29, 2020 |
AchalugoNwa: won't the money be automatically deducted from your account? |
Re: How I Got Badly Disgraced By Sokoloan by saintade01(m): 8:26am On Dec 29, 2020 |
When you download apps, make sure you disable the access CONTACTs permission in the setting if you don't want the app to access it like they did to you and disgrace you |
Re: How I Got Badly Disgraced By Sokoloan by bareal(m): 8:26am On Dec 29, 2020 |
Palmerbarry: You are too calm indeed. When one insulted me like that, I didn't pay her for up to 8 months. I asked her to get me arrested and see the other side of me. I intentionally held her money for the insult. 3 Likes |
Re: How I Got Badly Disgraced By Sokoloan by kelbranty(m): 8:27am On Dec 29, 2020 |
You'll jail someone because he borrowed money and for some reasons he couldn't pay back as at when due. Well done Mr jailer. I. I wonder what you'll do to the actual criminals � inioluwaDaniels: 1 Like |
Re: How I Got Badly Disgraced By Sokoloan by Youngzedd(m): 8:28am On Dec 29, 2020 |
Omihanifa: Aaaah Chinese are ruthless in business. The workers must be taking shit everyday |
Re: How I Got Badly Disgraced By Sokoloan by ChiefJusticeFuc: 8:28am On Dec 29, 2020 |
Most of the loan apps are owned by one Chinese company with sokoloan as the main parent company What they do is create several cloan sites so that former customers who have vowed never to have any thing with them will think they are accessing a different app. But there is something more sinister about this Chinese owned apps . How they got liscence from CBN and why CBN doesn't seem to care on their extremely outrageous interests shows either complete lack of regulation on their part or that these loan sharks have both CBN and bank part ownership. 4 Likes |
Re: How I Got Badly Disgraced By Sokoloan by Karleb(m): 8:31am On Dec 29, 2020 |
jamesbridget13: Nigeria is so bad that we are used to not getting justice. Imagine what you just wrote. 2 Likes |
Re: How I Got Badly Disgraced By Sokoloan by Toktee(m): 8:31am On Dec 29, 2020 |
jamesbridget13:Did you know that there is something called the police, the court? Who is she to declare an individual wanted? Who give a loan company such authority? Did you know that character assassination and deformation of character is a serious offense? The only right the loan company has over him is to report him police, the court or the body in charge of debt defaulters of which I know there is, and not by calling him criminal. 5 Likes |
Re: How I Got Badly Disgraced By Sokoloan by hosemujica: 8:31am On Dec 29, 2020 |
loswhite:I doubt if they even update that credit thing . Cause for people that pay they hardly see any improvement on interest charges . 2 Likes |
Re: How I Got Badly Disgraced By Sokoloan by omoadeleye(m): 8:33am On Dec 29, 2020 |
Well, I can't blame them, that's one of the tactics in recovering a loan. 1 Like |
Re: How I Got Badly Disgraced By Sokoloan by Sanchez01: 8:33am On Dec 29, 2020 |
Acidosis:C'mon, man. Fingers aren't equal. Some take these loans to bail or cushion the effect of whatever it is they are going through, not because they do not intend to pay back. The desperation behind getting a temporal financial relief is what pushes many towards loan sharks, not minding the consequences. After agreeing to the terms and conditions of the loan, you all come back crying online to castigate the same loan app that choose to help you in your desperate hour.Not sure this is their problem. You can't build a good business relationship if you defame or libel defaulters every minute. I got this same SMS concerning a respected religious family man recently. I believe he needed the relief but they aired him in the worst way possible. Imagine condemning sokoloan for debiting your account without notice Are you people ma.d? Did you read the terms and conditions of the loan during your application?It's called a lien and I believe liens are normal in every part of the world. If you borrow from a financial institution, you will most likely have a lien placed on your account. It is not a big deal and truth be told, the comments so far are not complaining of liens but how they are humiliated in the worst ways possible. [s] You used your hand to submit your contact, yet come back crying and asking why sokoloan called your contacts. Some of you are just m.ad.[/s] Btw, 99% of Nigerians are not credit worthy. You all are the same people that fail to pay back interest-free loans given to you by friends, neighbors and relatives. This one dey. It is a human thing and not necessarily a Nigerian thing. People naturally have problems paying back when they are comfortable afterward. However, it still does not warrant the libel. I hope loan sharks will use the CBR more rather than this archaic, embarrassing approach in collections. 4 Likes |
Re: How I Got Badly Disgraced By Sokoloan by Palmerbarry: 8:34am On Dec 29, 2020 |
EhisChelsea1: I see you handled them well. Unfortunately I couldn't because the pressure was getting too much from family. Such message makes you look like a fugitive. 1 Like |
Re: How I Got Badly Disgraced By Sokoloan by jamesbridget13(f): 8:34am On Dec 29, 2020 |
Toktee:when they gave him T$C to accept, y did he not decline? Defamation of character is an offense but breech of contract is not an offense. I hear u, let him go to court na and update us as d matter progresses 2 Likes |
Re: How I Got Badly Disgraced By Sokoloan by Juliearth(f): 8:35am On Dec 29, 2020 |
Sanchez01: You have said it all. |
Re: How I Got Badly Disgraced By Sokoloan by Le2money(m): 8:36am On Dec 29, 2020 |
Blood dey ur eyes ooo EhisChelsea1: 1 Like |
Re: How I Got Badly Disgraced By Sokoloan by Karleb(m): 8:36am On Dec 29, 2020 |
jamesbridget13: You are the one supporting evil here. You opinion is bullshit, no sane person should agree to it. Even FG has debts. 2 Likes |
Re: How I Got Badly Disgraced By Sokoloan by PotatoSalad(m): 8:38am On Dec 29, 2020 |
Typical Nigerian. Why take a loan if you know you can't pay back when due? That's same thing we see when we lend friends money. They come like puppies for loan and behave like tigers when we ask for our money. Smh 6 Likes |
Re: How I Got Badly Disgraced By Sokoloan by jamesbridget13(f): 8:38am On Dec 29, 2020 |
Karleb:ok oga. Let it be as it is biko. You people shld leave me alone biko. 1 Like |
Re: How I Got Badly Disgraced By Sokoloan by Nobody: 8:39am On Dec 29, 2020 |
Juliearth: Well, that's because they give out loans without collateral When you take a loan from a bank...the bank asks for a collateral...which can be anything from your assets. If you fail to pay back the loan, the bank sells the asset, and recoups the money loaned to you. eg...I take a loan from first bank for 5million naira, and as collateral, I use a property which costs 10 million naira. If I don't pay the loan as when scheduled, First Bank sells the collateral, and recoups their money. Loan apps like Sokoloan, Palmcredit, Carbon Quickcheck and Branch don't demand collateral before they give you a loan, largely because their business model focuses on the type of loans that banks like First Bank won't touch..small payday loans. (They even make the no collateral part of their advertising pitch)..so when you take a loan from them, the loan conditions are usually tough and high...since they are operating at a risk by not taking collateral. As a result...they resort to tactics as detailed by OP to get their money back...because if they don't, they would be out of business within minutes...since they have no collateral to sell should a customer default on his or her loan. That's why when taking a loan from them, they advise you to have the means to pay (AND in some instances, they would even turn you down if you do have the means.) |
Re: How I Got Badly Disgraced By Sokoloan by DesChyko: 8:39am On Dec 29, 2020 |
Another one is Tecno Easybuy. Sending random messages to people on Whatsapp because it's not paid. To think that it is a CBN approved programme worries me. The wordings of this documentation is even appalling for a secondary school leaver. I don't know the person in question or anyone at all by that first name or surname. And even if I did, I don't know how I became a guarantor without my notice. Imagine messaging random people to threaten them with lawsuits and defamation. Let's take a stand guys. This cannot be allowed to stand. Loans have been around since time immemorial but this one is taking a really careless dimension. 1 Like 1 Share
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Re: How I Got Badly Disgraced By Sokoloan by sheyoroniyen(m): 8:39am On Dec 29, 2020 |
op sorry ooo....buh you funny sha.. you dey ask how them take get access to your contact..you didnt remember you granted access to it when you downloaded their app n clicked yes when they asked you for permission |
Re: How I Got Badly Disgraced By Sokoloan by Valkrie: 8:40am On Dec 29, 2020 |
@OP.. sorry for the experience but do not blame them...what a typical Nigerian understand when it comes to money matter and dispute is fire and blood...!! All of us know wetin dey...!! 1 Like |
Re: How I Got Badly Disgraced By Sokoloan by chiemmanuel(m): 8:40am On Dec 29, 2020 |
5thAngel:how do they get the contacts of customers |
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