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Nairaland Forum / Nairaland / General / Business / How Quick Loans Lure Workers, SMEs To Debt Traps (29962 Views)
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Re: How Quick Loans Lure Workers, SMEs To Debt Traps by santuse: 7:40am On Mar 14, 2021 |
OK, noted |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Kimjongun: 7:47am On Mar 14, 2021 |
I was here, I just got out, but I used my own money well so no regrets |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by MartinsD12(m): 7:48am On Mar 14, 2021 |
Otobroto:If you must borrow please borrow from your bank the interest are good, according to what I read here 80k to pay 82k with access bank, if it's branch loan or any of those loans apps that gives you 80k am sure the interest would be 20 to 25k na die be that, branch and Migo, and other loan apps are suffering Nigerians worst is there is no regulation as regards interest rate, it's a pity lots of Nigerians are applying for loans on all these high interest rates loan apps, cbn should look into this I believe they are on nairaland and they are hearing us, it's too much imagine 5k to pay 8k under 7 days. Please run away from them, borrow from your bank most banks now have fast loan. 9 Likes 1 Share |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by emmydee(m): 7:53am On Mar 14, 2021 |
Nigerians should stop borrowing from these people. They are wicked and when you default, then you would understand that kaki no be leather! 1 Like |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Jeffy1206(m): 7:55am On Mar 14, 2021 |
If you ask me why people are defaulting is cos of their high interest rate with short time repayment. Most of the companies are criminals too. How can you give people loans about 35% interest to pay in 8 days? � 5 Likes |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Alejobs: 8:00am On Mar 14, 2021 |
This is really sad and disheartening, we lack any social safety net as a people not to talk of our poor health infrastructure. Recommend my power solution for your home and IT friends and colleagues, it can charge your phones for up to a week, power laptop for over 10 hours and works well with solar. 0806531,6307 |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Nobody: 8:09am On Mar 14, 2021 |
From personal experience, the best quick loans with moderate rates flexible tenor and good customer service Branch Paylater GT quick loan Access loan Palm credit Easy credit Kwik Quick check Fairmoney The one's with useless rude demonic customer service representatives, fraudulent choking rates and devilish tenors 9ja cash 9credit Cashhere Okash Gocash Sokoloan Kashkash For the love of your life avoid anything CASHHERE they run a criminal syndicate and anything sokoloan wicked rates and tenors. NEVER GO NEAR THESE DEMONS AND THEIR STAFF. NEVER I AM STILL WONDERING WHY EFCC HASN'T CLOSED DOWN CASHHERE. 8 Likes 1 Share |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by bodmas119(m): 8:13am On Mar 14, 2021 |
If it happens I collected their loan and am unable to meet the repayment as at due date and cos of that they sent messages to all my contacts, calling me a criminal and all that, it means they have collect the money am owing them. I would never pay them back again. Sokolaon are wicked criminaly, they are inhumane 5 Likes |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by favour32(m): 8:14am On Mar 14, 2021 |
Avoid loan if you can....then you be a free person....na greek gift! |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Midex88(m): 8:18am On Mar 14, 2021 |
Loan ain't for me |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Yeyenairaland(m): 8:19am On Mar 14, 2021 |
slawormiir: Depending on what you borrowed money for ![]() You really need to unlearn somethings and get fresh insight 2 Likes |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by pocohantas(f): 8:19am On Mar 14, 2021 |
Banks were given a mandate to increase their risk assets (loans), that is why commercial banks became risk-friendlier and started rolling out different individual loan packages. It is not like they wanted to give you before. ![]() Previously, most RMs shy away from risk. No one wants to book a bad loan that would kill his/her career and even affect their branch. Recovery is another issue, Nigerians have bad character and I am sure it is because of us they added that to the Cs of credit. Even as friendly as banks were, they were still not accessible to the average person, that is why these independent loan companies became more popular. I’ll say, avoid them. Loans are not for personal hard times, weddings or vacations. You have your family and friends for such soft loans... 8 Likes 1 Share |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by clemzo101(m): 8:21am On Mar 14, 2021 |
These people dealt with me until I told myself I was going to stop no matter what. It's been over 1year now I have not collected a dime. Next they started using phone calls to disturb my life. I told them I am not interested anymore, yet they keep calling. Last time I told the lady that called me that she is a very wicked and a bad person, instead of being happy that I got saved and free from the slavery, she is busy encouraging me to come back. Stay away from it guys. 5 Likes 1 Share |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by nsiba: 8:23am On Mar 14, 2021 |
Funkeshuga:. Embarrass wetin? In Nigeria you are still talking embarrassment, lemme tell you if I am ur friend I won't pay shi shi again Politicians, Army , Buhari aren't embarrass na me go come de embarrass Thunder fire dem 2 Likes |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Nobody: 8:25am On Mar 14, 2021 |
sylve11: If i took a loan from you, and i did not pay, how would you get your money back? |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by SlahJoe(m): 8:25am On Mar 14, 2021 |
[quote author=Yeyenairaland post=99870030] I.e whether it's bad or good loan ![]() ![]() |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by nsiba: 8:26am On Mar 14, 2021 |
clemzo101:. When next they call you put ur phone near a loudspeaker and let the call run 1 Like |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by SlahJoe(m): 8:26am On Mar 14, 2021 |
I.e whether it's bad or good loan ![]() ![]() |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by authority2006(m): 8:27am On Mar 14, 2021 |
SEGLIZ: The guy I quoted said "borrowing leads poverty-tea", he was being general and not specific. I quoted you too on Lapo issue. All those loan apps, I understand everything about them and I wouldn't advise anyone to borrow from them. But micro finance banks are entirely different. Let me give you an example: if a member default in a particular week, another member who wants to take loan will be ask to pay for the defaulter for that week. They don't take extreme measures like what I'm reading here. Me, I'm a cooperative societies guy. |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by nsiba: 8:29am On Mar 14, 2021 |
Godarz:. My brother me and my guys don chop no be today, make dem dare come hold on top the criminal high interest na person head go hear am Awon werey, where dem self go get d money? |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Kondomatic(m): 8:30am On Mar 14, 2021 |
pocohantas:Banks cannot give you loan until you provide hard evidence to prove that you actually don't need a loan ![]() Yea, recovering loans from Nigerians is a tough job that's why these loan apps go the hard way. Once your grace period expires, they will declare you wanted and forward the message to all your contacts, no joy ![]() Hey, log out and go to church before emepem anyam 1 Like |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by omonla10(m): 8:30am On Mar 14, 2021 |
obonujoker:type specta on Google. Continue from there.. Finished paying my loan feb 28..and have collected another |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Gbagura: 8:31am On Mar 14, 2021 |
Lcredit Lcredit Lcredit Lcredit Lcredit Lcredit Lcredit Lcredit Lcredit Lcredit If you must borrow at all, don't ever borrow from them. They are the worst and the rudest. Sokoloan is far better than them, pun intended. |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by OceanEye: 8:32am On Mar 14, 2021 |
....... 2 Likes |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Nobody: 8:32am On Mar 14, 2021 |
nsiba: If i took a loan of one million naira from you and then i refused to pay, how would you get it back? It is like you are saying you will forgive me the loan.? Okay, that means that everyone can come and borrow money from you without anyone paying back because you are so generous Till you are down to your last one naira. Thanks |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by yorke1: 8:36am On Mar 14, 2021 |
FatherCHRISTMAS: Please.my question is, how do they get their contact phone numbers? |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by nsiba: 8:37am On Mar 14, 2021 |
Godarz:. For dis 9ja as long as me and you didn't put pen to paper and sign in the presence of our lawyers, OYO 4u |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by nsiba: 8:41am On Mar 14, 2021 |
OceanEye:. Just imagine, where did write that they were going to tarnish your image? My colleague told one customer care after they did same to him that it is over his dead body they will get back their 50k |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by Nobody: 8:44am On Mar 14, 2021 |
nsiba: Okay so people can come and take money freely from you Thanks. By the way in taking a loan from a loan app you agree to their terms and conditions which is a legal document And should you go to.court you will lose And not paying back the loan makes it difficult for the loan app to give loans to other people in need And they go out of business And then the poor have to go to banks who demand collateral and other high faulting stuff before you can get a loan So if you cant pay a loan back don't take it. Good morning to you |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by LauraClasikVibe(f): 8:51am On Mar 14, 2021 |
gfon:kindly share your experience. |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by nsiba: 8:51am On Mar 14, 2021 |
Godarz:. How many of them are following the CBN guidelines in giving out of loans? Why can't they report you to CBN instead of tarnishing ur image? I will dash you loan more than Dangote and Adenuga combined. I won't lose if we go to court cause I know many of them are not abiding to d necessary rules and regulations set out by CBN 1 Like |
Re: How Quick Loans Lure Workers, SMEs To Debt Traps by AerialMapper: 8:52am On Mar 14, 2021 |
Avoid these Shylock loan apps; they’ll not only entrap you but embarrass you as well! Never allow them access your contacts. If you must, delete all contacts from your phone especially if you plan on defaulting. They will blast SMS to every phone number in your contacts in the event that you default. 2 Likes |
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