Dear Nairaland members

Pls kindly stay off loan app, they are set of evil and unpleasant people. Learn to create a good relationship with friends. Seek assistance when needed and make sure you return money lent as at when due.

Above all, get a good side business that you can earn from apart from your salary. If you must borrow, I advise you do with banks. Not Finance or loan companies. Value your reputation! Once it destroyed, you will find it difficult to repair.

Imagine what they sent to me about my guy! Am helping him to sue their ass.

they won't listen

On top how much

bsalawu:
Dear Nairaland members

Pls kindly stay off loan app, they are set of evil and unpleasant people. Learn to create a good relationship with friends. Seek assistance when needed and make sure you return money lent as at when due.

Above all, get a good side business that you can earn from apart from your salary. If you must borrow, I advise you do with banks. Not Finance or loan companies. Value your reputation! Once it destroyed, you will find it difficult to repair.

Imagine what they sent to me about my guy! Am helping him to sue their ass.

Sue them over what sir? You won't be the judge in your case and if you have money to do case or have money to lend him to do case, the question will be why didn't you help him to pay before it was escalated.
I will rather take your advice to avoid them than asking for damages after defaulting on loans. That alone puts a big question mark on his reputation. He collected the loan, used it to solve his problem and because he didn't pay soon, he denied others of getting help and trust me sir, by the time these witnesses are presented in court along with the creditors who loan the money to the company to give your friend, case has finished and his name permanently goes into public document as an unworthy debtor no finance company in Nigeria should ever give credit.

FreeStuffsNG:

Sue them over what sir? You won't be the judge in your case and if you have money to do case or have money to lend him to do case, the question will be why didn't you help him to pay before it was escalated.
I will rather take your advice to avoid them than asking for damages after defaulting on loans. That alone puts a big question mark on his reputation. He collected the loan, used it to solve his problem and because he didn't pay soon, he denied others of getting help and trust me sir, by the time these witnesses are presented in court along with the creditors who loan the money to the company to give your friend, case has finished and his name permanently goes into public document as an unworthy debtor no finance company in Nigeria should ever give credit.

Do you work for these loan sharks? Because you are already playing out what you accused him of. How can you be a judge in your own case?
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You never know what the outcome of a court case may be. The judge might award damages in his favour if his lawyer could prove that he didn't default on the loan no matter how seemingly it must have been?
.
What if the lawyer argued that electronic discrepancies caused refund delay? What if his lawyer put forward an argument that before such show of shame could be made he should have been sent a warning? What if the lawyer finds a loophole in their terms and conditions and uses it against them??
.
Remember a part of Nigeria constitution is against public humiliation of Nigerians? Or it has never occurred to you why banks and the CBN don't attempt recovering their loans by using such frivolous methods?
.
When you call someone a thief and fraudster on the run you better show evidence else you could be in jail for name defamation.
.
Fraud, theft is completely different from loan defaulting in the eyes of the law!

FreeStuffsNG:

Sue them over what sir? You won't be the judge in your case and if you have money to do case or have money to lend him to do case, the question will be why didn't you help him to pay before it was escalated.
I will rather take your advice to avoid them than asking for damages after defaulting on loans. That alone puts a big question mark on his reputation. He collected the loan, used it to solve his problem and because he didn't pay soon, he denied others of getting help and trust me sir, by the time these

witnesses are presented in court along with the creditors who loan the money to the company to give your friend, case has finished and his name permanently goes into public document as an unworthy debtor no finance company in Nigeria should ever give credit.

Thanks for your response! As I told him I would rather borrow money from an enemy to pay them back than face such embarrassment! However, 4 days loan default on 14k balance shouldn’t warrant this.

It’s painful and evil, though I don’t blame the company, I blame the collector. Alot have destroyed friendships with borrow me and never pay back.

wealthgoddess:

Do you work for these loan sharks? Because you are already playing out what you accused him of. How can you be a judge in your own case?
.
You never know what the outcome of a court case may be. The judge might award damages in his favour if his lawyer could prove that he didn't default on the loan no matter how seemingly it must have been?
.
What if the lawyer argued that electronic
discrepancies caused refund delay? What if his lawyer put forward an argument that before such show of shame could be made he should have been sent a warning? What if the lawyer finds a loophole in their terms and conditions and uses it against them??
.
Remember a part of Nigeria constitution is against public humiliation of Nigerians? Or it has never occurred to you why banks and the CBN don't attempt recovering their loans by using such frivolous methods?
.
When you call someone a thief and fraudster on the run you better show evidence else you could be in jail for name defamation.
.
Fraud, theft is completely different from loan defaulting in the eyes of the law!

Infact my lawyer has detected where he’s holding them from. There is a Supreme Court judgment on defamation of character already! Am ready to help him out. Though I don’t support is default! But 4 days is no cause for such Na... on top 14k

Government should do something......those people are evil, the interest rate is something else. Bro. friends that find it difficult to eat will borrow one? The reach also not ready to help the poor

wealthgoddess:

Do you work for these loan sharks? Because you are already playing out what you accused him of. How can you be a judge in your own case?
.
You never know what the outcome of a court case may be. The judge might award damages in his favour if his lawyer could prove that he didn't default on the loan no matter how seemingly it must have been?
.
What if the lawyer argued that electronic discrepancies caused refund delay? What if his lawyer put forward an argument that before such show of shame could be made he should have been sent a warning? What if the lawyer finds a loophole in their terms and conditions and uses it against them??
.
Remember a part of Nigeria constitution is against public humiliation of Nigerians? Or it has never occurred to you why banks and the CBN don't attempt recovering their loans by using such frivolous methods?
.
When you call someone a thief and fraudster on the run you better show evidence else you could be in jail for name defamation.
.
Fraud, theft is completely different from loan defaulting in the eyes of the law!

Sir, how many court cases have you done in real life? You obviously need to calm down sir. If you borrow, refuse to pay and hope to win the case, you are in for the shock sir.
The OP has given a wise advice and I will rather take his advice. Don't go and borrow money, default and be speaking grammar. All these cunny permutations you are making will be torn to shreds in court and you may soon be facing the case of obtaining money by false pretense by the time they counter sue you with false claims you made to redeem your loan in your loan application.
I repeat, the best way to 'punish' them is to boycott their services. I repeat, don't borrow from them. Avoid their services.

The best advice is to avoid them completely. They are criminals just like drug cartels and arm robbers. They are out to destroy people's lives and they don't care. Ask your self this question, why don't they have a physical location? Why are they hiding?. The authorities will tell you they don't regulate them because they don't exist. I pity Nigerians working for them because of poverty
If you must take loan from them, ensure you delete all your contacts and replace them with dummy numbers and you are done with the fraudsters

danniyal:
The best advice is to avoid them completely. They are criminals just like drug cartels and arm robbers. They are out to destroy people's lives and they don't care. Ask your self this question, why don't they have a physical location? Why are they hiding?. The authorities will tell you they don't regulate them because they don't exist. I pity Nigerians working for them because of poverty
If you must take loan from them, ensure you delete all your contacts and replace them with dummy numbers and you are done with the fraudsters

Exactly!

But why didn't he pay up too? This is not free money or government cake. Even when such person borrow from family, they wont pay. I have them all around me, even the so called church members.
Pls pay when you owe.. Your case is dead on arrival in any court.

bsalawu:


Infact my lawyer has detected where he’s holding them from. There is a Supreme Court judgment on defamation of character already! Am ready to help him out. Though I don’t support is default! But 4 days is no cause for such Na... on top 14k

So because it's just 14K they should forget about the money?

In case you don't know loan companies also pay interest on the deposits they use to give out loan.

I'm sure you would not like it if you keep a fixed deposit in a bank or finance company hoping to be paid monthly interest then when it's time to pay they tell you they can't pay you because their customer defaulted and refused to pay back they loan

wealthgoddess:

Do you work for these loan sharks? Because you are already playing out what you accused him of. How can you be a judge in your own case?
.
You never know what the outcome of a court case may be. The judge might award damages in his favour if his lawyer could prove that he didn't default on the loan no matter how seemingly it must have been?
.
What if the lawyer argued that electronic discrepancies caused refund delay? What if his lawyer put forward an argument that before such show of shame could be made he should have been sent a warning? What if the lawyer finds a loophole in their terms and conditions and uses it against them??
.
Remember a part of Nigeria constitution is against public humiliation of Nigerians? Or it has never occurred to you why banks and the CBN don't attempt recovering their loans by using such frivolous methods?
.
When you call someone a thief and fraudster on the run you better show evidence else you could be in jail for name defamation.
.
Fraud, theft is completely different from loan defaulting in the eyes of the law!

The CBN does not give loans to retail customers.

The reason why banks do use this method is because banks in Nigeria do not give usually give unsecured loans; there are however instances where the CBN has sanctioned public humiliation for serial debtors. For instance it periodically mandates banks to publish the names of companies owing bad debts and the names of the directors and related parties of such companies.

Two months ago staff of Heritage Bank help a protest in from of Andy Uba's Abuja residence so as to humiliate him intpo paying his debt.

If you borrow with the intention of not paying back and you start intentionally dodging calls and communication from the lender you have committed theft, it's as simple as that!

MrFollowFollow:


So because it's just 14K they should forget about the money?

In case you don't know loan companies also pay interest on the deposits they use to give out loan.

I'm sure you would not like it if you keep a fixed deposit in a bank or finance company hoping to be paid monthly interest then when it's time to pay they tell you they can't pay you because their customer defaulted and refused to pay back they loan

I understand how their operations work more than you do, I have headed a department of such before... this new method of backlisting customers is an evil act. I wish a member of your family experience such then u will know how it’s feels. Loan default is no big deal, especially when you know the customer and the loan is still within days... do you know the people such messages have been sent to? Do you know how it’s has damaged his personality. Like I said earlier I don’t blame the company, it’s the people that approaches them.

MrFollowFollow:


If you borrow with the intention of not paying back and you start intentionally dodging calls and communication from the lender you have committed theft pure and simple!

He wasn’t avoiding their calls, I told him to screen shot his call log... he called them and paid 20k out of 34k. He said by Friday we will balance the rest. They immediately sent him a warning letter and next is that evil message

bsalawu:


I understand how their operations work more than you do, I have headed a department of such before... this new method of backlisting customers is an evil act. I wish a member of your family experience such then u will know how it’s feels. Loan default is no big deal, especially when you know the customer and the loan is still within days... do you know the people such messages have been sent to? Do you know how it’s has damaged his personality. Like I said earlier I don’t blame the company, it’s the people that approaches them.

Any member of my family who borrows and refuses to pay back should be ready to bear whatever consequences come with it.

I run a company so I know the impact when clients willfully withhold your payment not necessarily because they do not have the money to pay but just because they do not want to pay for services they received.

Nigerians are just plain wicked!

In the estate where I live one of my neighbours who has been owing his landlady for about 8 months recently held a talk-of-the-town child naming ceremony and as a result was given quit notice by his landlady. This same person is also owing service charge for almost 1 year despite benefiting from the services of the gatemen, security guards and sweepers in the estate but he has money to run his generator anytime there is a power outage.

In Nigeria someone will owe you money and intentionally refuse to pay!

The operators of these companies are human beings like you and I who are reasonable, if you approach them for an extension of or rescheduling of your loan, but trust Nigerian they will not do that instead they will start avoiding calls and warning emails and dare the loan company to do their worst and when it happens they play the victim card and start telling half-truths!

Omihanifa:
On top how much

E fit no pass #5000 but money is money Sha and agreement should be honoured. He should have picked their calls sha.

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MrFollowFollow:


Any member of my family who borrows and refuses to pay back should be ready to bear whatever consequences come with it.

I run a company so I know the impact when clients willfully withhold your payment not necessarily because they do not have the money to pay but just because they do not want to pay for services they received.

Nigerians are just plain wicked!

In the estate where I live one of my neighbours who has been owing his landlady for about 8 months recently held a talk-of-the-town child naming ceremony and as a result was given quit notice by his landlady. This same person is also owing service charge for almost 1 year despite benefiting from the services of the gatemen, security guards and sweepers in the estate but he has money to run his generator anytime there is a power outage.

In Nigeria someone will owe you money and intentionally refuse to pay!

The operators of these companies are human beings like you and I who are reasonable, if you approach them for an extension of or rescheduling of your loan, but trust Nigerian they will not do that instead they will start avoiding calls and warning emails and dare the loan company to do their worst and when it happens they play the victim card and start telling half-truths!

You are right in all honesty. Many are like that. I just feel bad with this approach

MrFollowFollow:


The CBN does not give loans to retail customers.

The reason why banks do use this method is because banks in Nigeria do not give usually give unsecured loans; there are however instances where the CBN has sanctioned public humiliation for serial debtors. For instance it periodically mandates banks to publish the names of companies owing bad debts and the names of the directors and related parties of such companies.

Two months ago staff of Heritage Bank help a protest in from of Andy Uba's Abuja residence so as to humiliate him intpo paying his debt.

If you borrow with the intention of not paying back and you start intentionally dodging calls and communication from the lender you have committed theft, it's as simple as that!

Oga stop shooting yourself in the leg! The CBN or commercial banks as you have mentioned didnt even do a percent of what ur loan sharks are doing, they know the implications in damages that a law court might award against them!
.
Publishing of names of loan defaulters is a public humiliation but in no way close to character defamation and public humiliation (as always being carried out by your loan sharks) aren't you learned??
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Do you even know that these commercial banks even have special wavers for situations where a debt can no longer be recoverable? Some bad debts are just waved! Because the cost of pursuing them might prove to be more expensive on the long run (many other factors and policies could be involved)

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I can bet you that in not more than four years from now, the legislative arm of government might actually pass a law against this barbaric act. Or perhaps when people start winning millions in damages against you guys in court cases, your lots will learn.
.
And the protest at Uba's place you mentioned, these funds are in millions. Yet these people are always using legal and and soft approaches.
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Your unprofessional loan sharks can destroy peoples' lives with their ...peanuts.
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You guys should better go evolve

Jobless man don show for thread

wealthgoddess:

Oga stop shooting yourself in the leg! The CBN or commercial banks as you have mentioned didnt even do a percent of what ur loan sharks are doing, they know the implications in damages that a law court might award against them!
.
Publishing of names of loan defaulters is a public humiliation but in no way close to character defamation and public humiliation (as always being carried out by your loan sharks) aren't you learned??
.
Do you even know that these commercial banks even have special wavers for situations where a debt can no longer be recoverable? Some bad debts are just waved! Because the cost of pursuing them might prove to be more expensive on the long run (many other factors and policies could be involved)

.
I can bet you that in not more than four years from now, the legislative arm of government might actually pass a law against this barbaric act. Or perhaps when people start winning millions in damages against you guys in court cases, your lots will learn.
.
And the protest at Uba's place you mentioned, these funds are in millions. Yet these people are always using legal and and soft approaches.
.
Your unprofessional loan sharks can destroy peoples' lives with their ...peanuts.
.
You guys should better go evolve

So you expect a loan company with little trading capital that enables it to only give out small loans to go around writing off debts just so they can be in your good books.

Why don't you go and open your own loan company and start writing off loan once a customer refuses to pay a loan he took willingly let us see if your business will not liquidate in under 4 months!

danniyal:
The best advice is to avoid them completely. They are criminals just like drug cartels and arm robbers. They are out to destroy people's lives and they don't care. Ask your self this question, why don't they have a physical location? Why are they hiding?. The authorities will tell you they don't regulate them because they don't exist. I pity Nigerians working for them because of poverty
If you must take loan from them, ensure you delete all your contacts and replace them with dummy numbers and you are done with the fraudsters

Only a person who lacks integrity will give this type of advise.

It's impossible for a leopard to change it's spots so a thief will always remain a thief!

The trick is simple guys. NEVER give these online criminals called loan sharks your real contacts. They will spread lies against you to tarnish your image.
Ensure you backup and delete all your contacts and then replace them with dummy numbers. Backup and delete whatapp and gallery before requesting for the loan. If you can payback its fine, if you run into problems you are safe. Many have committed suicide because of these criminals, people have lost jobs, relationships destroyed, imagine tarnished
DELETE YOUR CONTACTS BEFORE APPLYING

Won't loan apps close very soon? with the nonsense I've seen and heard about them. Are they not aware of their reputation?

Stephenmoka4:
Won't loan apps close very soon? with the nonsense I've seen and heard about them. Are they not aware of their reputation?

In actual fact some have closed shop just like some microfinance banks have closed because Nigerians borrowed and refused to pay back

MrFollowFollow:


Any member of my family who borrows and refuses to pay back should be ready to bear whatever consequences come with it.

I run a company so I know the impact when clients willfully withhold your payment not necessarily because they do not have the money to pay but just because they do not want to pay for services they received.

Nigerians are just plain wicked!

In the estate where I live one of my neighbours who has been owing his landlady for about 8 months recently held a talk-of-the-town child naming ceremony and as a result was given quit notice by his landlady. This same person is also owing service charge for almost 1 year despite benefiting from the services of the gatemen, security guards and sweepers in the estate but he has money to run his generator anytime there is a power outage.

In Nigeria someone will owe you money and intentionally refuse to pay!

The operators of these companies are human beings like you and I who are reasonable, if you approach them for an extension of or rescheduling of your loan, but trust Nigerian they will not do that instead they will start avoiding calls and warning emails and dare the loan company to do their worst and when it happens they play the victim card and start telling half-truths!

Do you reason with your brain at all?! I ask....

Where in the write up did you read the OP mentioned that his friend refused to pay back the loan? You're just jumping from one loan thread to another yarning rubbish.

Your stupid landlord story you wrote up there, did his landlady starts messaging his contacts or posting his pictures on social media for him owing house rent? No! Rather, the landlady followed the right procedure by issuing quit notice.

But you and your cohorts would rather tag your customer a fraudster on the run to his saved contacts, not minding who such messages will get to and you still expect him to pay up.

Try such nonsense with me and see if you will get your money! He made part payment of 20k and pleaded to complete the balance by Friday but dull headed colleagues of yours still went ahead to send such demeaning message...

Even life itself is a debt which we'd all pay back someday.

miccoy:


Do you reason with your brain at all?! I ask....

Where in the write up did you read the OP mentioned that his friend refused to pay back the loan? You're just jumping from one loan thread to another yarning rubbish.

Your stupid landlord story you wrote up there, did his landlady starts messaging his contacts or posting his pictures on social media for him owing house rent? No! Rather, the landlady followed the right procedure by issuing quit notice.

But you and your cohorts would rather tag your customer a fraudster on the run to his saved contacts, not minding who such messages will get to and you still expect him to pay up.

Try such nonsense with me and see if you will get your money! He made part payment of 20k and pleaded to complete the balance by Friday but dull headed colleagues of yours still went ahead to send such demeaning message...

Even life itself is a debt which we'd all pay back someday.

Dickhead, who called you here? Anyway since you're here I will put you in your place. That nonsense about making part-payment of 20K and asking for more time is a ruse Nigerians use when they want to avoid paying a debt in full because an average Nigerian debtor is full of sh1t and lies!

I can bet 100K that the guy had the complete money on the due date of the loan but he decided to 'try his luck'. I challenge him to post an extract of his bank statement for that day and I will be vindicated!

The best way for these loan companies to ensure people pay back is by public embarrassment, personally I have no problem with it because that 's the only language Nigerians understand.

Go to South America and borrow then refuse to pay back lets see if they will not use a baseball bat to break your kneecap.

Intentionally withholding payment to a business for debt owed is an indirect way of killing the business since cash is the lifeblood of any business but I'm sure you don't know that because you have never managed a business in your entire life!

MrFollowFollow:


Dickhead, who called you here? Anyway since you're here I will put you in your place. That nonsense about making part-payment of 20K and asking for more time is a ruse Nigerians use when they want to avoid paying a debt in full because an average Nigerian debtor is full of sh1t and lies!

I can bet 100K that the guy had the complete money on the due date of the loan but he decided to 'try his luck'. I challenge him to post an extract of his bank statement for that day and I will be vindicated!

The best way for these loan companies to ensure people pay back is by public embarrassment, personally I have no problem with it because that 's the only language Nigerians understand.

Go to South America and borrow then refuse to pay back lets see if they will not use a baseball bat to break your kneecap.

Intentionally withholding payment to a business for debt owed is an indirect way of killing the business since cash is the lifeblood of any business but I'm sure you don't know that because you have never managed a business in your entire life!

May you live long....

Mr. Incredible creditor!

The best advice is to avoid them completely. They are criminals just like drug cartels and arm robbers. They are out to destroy people's lives and they don't care. Ask your self this question, why don't they have a physical location? Why are they hiding?. The authorities will tell you they don't regulate them because they don't exist. I pity Nigerians working for them because of poverty
If you must take loan from them, ensure you DELETE ALL YOUR CONTACTS and replace them with dummy numbers and you are done with the fraudsters