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What Will Happen If I Don't Pay My Microfinance Bank Loan - Nairaland / General - Nairaland

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What Will Happen If I Don't Pay My Microfinance Bank Loan by Scot1255: 3:09pm On Mar 16, 2020
This people are just adding interest anyhow to d loan.. Now after paying d prncipal and all accrued intetest, they are trying to tell me i still have outstanding. This people are big scam. What will happen of I stop paying
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by SUPERPACK: 3:44pm On Mar 16, 2020
You better sort yourself out with them because they might block your opportunity of getting a bigger loan amount in the future when they report you. The issue here remains that they have your bvn already and that simply means that they can place a lien on all your bank accounts in Nigeria.
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by Scot1255: 7:20pm On Mar 16, 2020
SUPERPACK:
You better sort yourself out with them because they might block your opportunity of getting a bigger loan amount in the future when they report you. The issue here remains that they have your bvn already and that simply means that they can place a lien on all your bank accounts in Nigeria.
I don't need loan from any Nigerian bank anymore. And regarding the lien. Nawa o. This MFBs are just scammers
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by lifenajeje(m): 4:48am On Mar 17, 2020
Them go come disgrace u for your house if u no pay.
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by Scot1255: 2:57pm On Mar 17, 2020
lifenajeje:
Them go come disgrace u for your house if u no pay.
disgrace fire
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by lifenajeje(m): 6:04pm On Mar 17, 2020
Scot1255:
disgrace fire

U just talk like my edo neighbour ..when Lapo come the whole street know say him collect loan..

They come with crowd ( I don't know if they are rented )

Most times they lock up people's shops ..

Don't know if they will lock ur flat
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by Scot1255: 7:52pm On Mar 17, 2020
lifenajeje:


U just talk like my edo neighbour ..when Lapo come the whole street know say him collect loan..

They come with crowd ( I don't know if they are rented )

Most times they lock up people's shops ..

Don't know if they will lock ur flat
What right do they have to do that.. Was their action backed by court. The only thing they can do is take legal actions against me. Stop letting people oppress u anyhow in this country
Re: What Will Happen If I Don't Pay My Microfinance Bank Loan by sirrotex: 9:24pm On Mar 17, 2020
It is not about paying the loan, it is about paying it at the right time in accordance with the offer letter. Interest would continue to accrue until the amount is fully liquidated. Where you refuse to pay, the bank would eventually take you to court to enforce the facility against you. Also your name would have been put in the credit bureau record. If you feel, you are being over charged, request for your account statement and ask for a reconciliation of accounts.

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