ChybuzzDD:

Bros, after this long epistle, just go and pay them, if you're owing them.
Nigerians should stop giving excuses whenever it comes to repaying any money they lent.

Oga is it lent abi borrow?
Settled my debt long ago sir, It's only an excuse if otherwise.

And you guys overuse the whole "Nigerians don't like repaying debt", "Nigerians give too much excuses" phrases, don't you think?

NewLogicalMind:


How do you mean that Sokoloan and 9credit adopt unconventional means to recover their money from dishonest Nigerians who borrow and refuse to pay back does not mean that they are operating illegally.

The loans they give out are largely unsecured and Nigerians being what they are will not pay back without a little prodding.

You may go and set up your own fintech company and give out unsecured loans on very liberal terms...I assure you that the company will go bankrupt in less than 6 months due to the wickedness of Nigerians with regards to repayment of loans!

First of all, how do u know all these people are not willing to repay the loans?

Are you aware that the pandemic crippled so many lives to the point of no return?

Infact, lets stop using pandemic as an excuse...

As a loan company, having late repayments and defaulters is inevitable because human beings are not perfect. A good solution to that is to lower their credit score, that way they don't stand a chance of accessing higher loans or any loans from other companies in the near future as the case may be.

If all their clients are so criminal minded why do they go ahead and issue out loans in the first place?

Agreed, some people borrow money with the intent of not paying back, and there are people who borrow that are truly in dire need of money and have every intention of paying back. Why would you carry out gruesome punishments on the innocent?

If they must give out loans then people's bank statements and credit scores should be checked and some other assessments should be made. In cases of late repayments, call the person to learn the reason for that, extensions should be granted(Terms n Conditions applied of course) or auto debiting of accounts should be enabled for the exact amount that is being owed.

Sending embarrassing messages as means of loan recovery is never an option but a short-cut method for a lazy business.

If they should call anyone, it should be ur guarantors not sending humiliating text messages to random contacts on ur phone and forever damaging someone's reputation to potential business partners and friends, all because of money as little as 5k.

Sokoloan and 9credit are complete illegal organisations that are just out to dupe innocent people, they bought fake reviews on Google PlayStore just to mislead people into falling for their trap, you need to go to the critical part of the review section where u will see real people complaining about them. Complaints about them debiting their clients' accounts without reason.

Sokoloan's latest technique on desperate people who urgently need cash is forcing them to leave a positive review on their profile on Google PlayStore, claiming that by doing so they stand a better chance of getting their loans approved. As these people post their unintended "positive" reviews it gradually covers up the fake reviews they bought initially. Why go through all this unnecessary scheming if they are truly genuine in their affairs? Why not simply listen to your clients most frequent complaints about you and make corrections accordingly the way a professional business should operate?

Their interest rates are ridiculously high, they don't have standard phone numbers where u can call and make complaints, they never respond to emails. Their recovery agents can barely speak English and these organisations don't even have a physical office because they fear the wrath of their victims coming to seek vengeance.

The list of red flags on this fraudulent organisations is endless. If you look at it closely, they are not about providing service but rather out to take. As such, they should be taken down!!!

Globally, such recovery methods are not acceptable. Just recently in the Philippines, several loan companies where summoned to court for doing such. There is nothing right about it.

Other fintech companies like Carbon and Quickcheck don't resort to such embarrassing techniques yet people still rush them and they are very much in business because they have a more professional means of handling their affairs.

Sir, you should get ur facts straight before defending these scam loan companies.

Undissputed:


It's a shame engaging with a poor disgusting person as you. Goodbye.

Lol... shey u get mouth ���

Undissputed:


This is the kind of $tupid mentality many Nigerians have. For you to leave your family and friends and go take a loan from a loan shark, then you should be ready to bear the burden. Even though the world is at a standstil at this time and you are being hassled by the loan companies, that doesn't give some of you the right to say that you wouldn't pay back because the company is harassing you. If you don't want to be harassed, then don't apply for a loan from these loan sharks. Look to your family, friends, church, mosque or local cooperative societies. Just don't be broke and silly at the same time.

It doesn't take a smart person to know that family, friends, etc weren't options worth considering in the first place, that is why loan systems exist.

Undissputed:


This is the kind of $tupid mentality many Nigerians have. For you to leave your family and friends and go take a loan from a loan shark, then you should be ready to bear the burden. Even though the world is at a standstil at this time and you are being hassled by the loan companies, that doesn't give some of you the right to say that you wouldn't pay back because the company is harassing you. If you don't want to be harassed, then don't apply for a loan from these loan sharks. Look to your family, friends, church, mosque or local cooperative societies. Just don't be broke and silly at the same time.

Are you just being foolish on purpose? Your opinions are truly yours but they simply don't make any sense. Yes, we have the rights not to pay due to loan recovery method harassments because even CBN has instructed banks to extend loan repayments for their clients for a year due to the pandemic. So the loan apps doing the harassment are operating illegally by carrying matters into their own hands.

Victims being harassed clearly didn't know the viscous schemes they were falling into else they would have stayed clear. Being a victim myself I have put it upon myself to see the end of every loan app that is operating illegally like Sokoloan and 9credit.

Undissputed:
The responses on this thread just shows that Nigerians deserve the thieving leaders they get. Bunch of entitled and ungrateful thieves everywhere. No matter how small an amount a company loans to you, you have the obligation and should have the conscience to pay back. If you don't pay back in time, the loan company has the right to harass you until you pay. Saying that you wouldn't pay because the company isn't polite in communication or the amount is chicken change is a stupid narrative. If millions of Nigerians borrow 5k each and default, where do you think the company will get the funds to help others? This country is cursed!!

Get off your self righteous horse or simply shut up. You clearly haven't been in this tight situation that's why you are spitting trash.

People making complaints here are obviously suffering from the effects of the pandemic and the loan companies are not being considerate. Nobody said they are not going to pay but the recovery method is just not acceptable considering the circumstance. And loan companies do not have the right to harass you that way, even worse after settling the loan they still beg you to come and take another loan.

A well-planned organisation should always have a contingency plan incase of crisis and pandemic that's why the likes of Carbon and Quickcheck are still thriving.

Loan companies like Carbon and Quickcheck are very professional and put the condition of their clients into consideration, which is why people rush them. Unlike Sokoloan, 9credit and co... they are just outright scavengers.

The way you are talking sounds like a representative of Sokoloan sef

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.

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.

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 ........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

fineboynl:
are you talking about branch? they do not respond to mail from the app. yet they keep on sending SMS threatening to report. they should extend by default automatically and not to add any other fees as it is in all other country.

seun, lalasticklala

Some of these loan apps are outright mean and have no joy for anyone. I am also affected by the loan repayment thing and they have been bombarding my phone with threatening calls and text messages, they even sent text messages to my contacts. I seriously don't know what to do cos I genuinely have no means of getting the money due to the pandemic, and this is actually the first time I am defaulting, also due to the pandemic. They simply won't listen or consider, have tried sending them mails but to no avail. Federal Government or CBN seriously needs to interfere in the matter because the next option now is robbery.