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Nairaland Forum / Nairaland / General / Business / Can I Be Arrested For Defaulting On A loan To A Loan App? (51621 Views)
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Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Acidosis(m): 7:26am On Sep 14, 2021 |
Adam09: If you can't refund a stranger (loan app), you won't pay 'someone you know' 2 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by einsteine(m): 7:28am On Sep 14, 2021 |
ezegold4we: Actually, lots of people get away without paying. They can't use your BVN to do direct debits as they do not have a banking license. CBN did not license them so they can't use the CBN's system to get back the money. That's why you see them relying solely on social shaming as the way to recover their loans. My sympathies would never be with companies charging 2500% APR annualised. They are getting up to 500k interest yearly from a 14k loan. That's usurious. 1 Like |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Jobminister: 7:29am On Sep 14, 2021 |
go and pay back your loan, and stop taking loan if you don't have plans of paying back. 1 Like |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by phenol33(m): 7:29am On Sep 14, 2021 |
Kingcalls:why are trying to decieve OP, did u tell him that the loan company will send his name to CBN, which CBN will keep keep in their database of loan defaulters . Which other banks have access to anytime. This singular act of OP have killed his integrity in his future business community. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by einsteine(m): 7:29am On Sep 14, 2021 |
smasher1: Again not true. These particular set of companies don't even record their loans with credit rating agencies because their loans break usury laws. 3 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by einsteine(m): 7:32am On Sep 14, 2021 |
Ofadaman: This is not true. These are not banks and do not have any CBN license to do this. 4 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by adetayoonas(m): 7:32am On Sep 14, 2021 |
Ofadaman: On point � Let's tell Nigerians the right thing. Loan defaulting is like stealing. It is not good to default loans. U are only wasting your time if u sue them for privacy violation cos it wasn't by force they gave u d loan. U asked for it. So pay ASAP. Your attitude to default on loan is not good at all. Go and pay your loan. Haba. Why are we like this in this country? It is quite sad to see people even encouraging this bad act. Loan is why Europe, America and Canada economy grows but people in Nigeria are great defaulters even some of our politicians. 3 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Raxxye(m): 7:33am On Sep 14, 2021 |
Anuoluwagbemiga:I pray they arrest and jail you bc you are deserving of it! You borrow and do not want to pay back! 1 Like 1 Share |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by adetayoonas(m): 7:33am On Sep 14, 2021 |
einsteine: They will get the license if they don't have. There is a global standing instruction Pls let us stop encouraging loan defaulters. U are only wasting your time if u sue them for privacy violation cos it wasn't by force they gave u d loan. U asked for it. So pay ASAP. Your attitude to default on loan is not good at all. Go and pay your loan. Haba. Why are we like this in this country? It is quite sad to see people even encouraging this bad act. Loan is why Europe, America and Canada grows but people in Nigeria are great defaulters even some of our politicians. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Joyceaile(f): 7:35am On Sep 14, 2021 |
RapistOnBail:chai this brother is harsh |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Kaiser20: 7:37am On Sep 14, 2021 |
Give those idiot loans they will not payback. Refuse them loan they will complain that the government is not helping the youths to grow businesses. How can someone approach a borrower without any collateral, gets a loan then refused to payback They will not pay also their landlords. Poverty have continued to stay permanently with some persons until they change their attitude of. ...give me, give me. give me.. give me. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by RubiesBanking: 7:37am On Sep 14, 2021 |
I really don't blame them to be honest. I still remember when I borrowed one of my guy around 50k and he promised to pay back next week. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by FatherCHRISTMAS(f): 7:38am On Sep 14, 2021 |
Yes you can |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by jimter44(m): 7:40am On Sep 14, 2021 |
Why did you borrowed in the first place when you are supposed to lend to nations? Go and pay the loan and don't borrow again. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by uchwar1: 7:45am On Sep 14, 2021 |
Go pay your dept my friend. I keep receiving useless text messages from people I can't remember due to money they borrowed online. Stop betting, u refused. Insincere people everywhere |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Emilo(m): 7:47am On Sep 14, 2021 |
Nigerians sef, una funny oh. Some of u are saying he shld pay up, pay up, like as if if he had d money he wouldnt have paid. Who loves d public embarrassment? 4 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Offpoint1: 7:48am On Sep 14, 2021 |
RapistOnBail:You're waiting for someone dead because of money....what makes you different from him now? 4 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Dumte(m): 7:54am On Sep 14, 2021 |
My people, just avoid Sokoloan, 9jacash and Okash by all means. Their agenda is to deform someone's image. And the worst part is that these companies are own by Chinese, and they employ Nigerians to embarrass their fellow citizens. 1 Like |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by EgunMogaji2: 7:57am On Sep 14, 2021 |
signature2012: Haba, not forever nau. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by EmmyG012(m): 7:58am On Sep 14, 2021 |
Anuoluwagbemiga: |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by EgunMogaji2: 7:59am On Sep 14, 2021 |
Offpoint1: I keep a healthy list of people whose death I am ready to celebrate. I'm sure that I'm on a list of few. I run a Google notification for several of them. One day I got notified that one got arrested for pedophilia in Texas. I personally went and danced in front of his house and his office. I printed a shirt with his picture where he was wearing jail clothes and in handcuffs. If you stand by the river long enough you'll see the body of your enemies float by 1 Like
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Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by EmmyG012(m): 7:59am On Sep 14, 2021 |
Just look for a way to pay back to avoid further embarrassment. Anuoluwagbemiga: |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Stephenmoka4(m): 8:01am On Sep 14, 2021 |
redcliff:I'm not a debtor, didn't you read where I mentioned my number is in a defaulter's contact list. I received phone calls from them telling me XYZ defaulted a loan, I know it's all this app I just hear them, end call |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Nobody: 8:02am On Sep 14, 2021 |
Anuoluwagbemiga: Look, I won't blame you for defaulting cos I don't know the circumstances. But I want you to offer to meet up with them and explain to them what's gone wrong and the plans and measures you are taking to pay up. It is when you run away and stay incommunicado that they'll start suspecting you. Meet them with a drawn up plan by you how you'll pay up and give them a deadline that you intend to pay up. If you have a lawyer friend who'd take your case pro Bono, then go with him to this meeting so they know you're serious. And please pay up. |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Stephenmoka4(m): 8:03am On Sep 14, 2021 |
heykims:ok |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Coldie(m): 8:03am On Sep 14, 2021 |
Y would u take a loan and refuse to pay? Na all of una cast Nigeria make people wicked. The people doing the loan business did they pick the money from ground? Go and pay the money |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Newboss(m): 8:05am On Sep 14, 2021 |
Mynd44: People default on loans very often for reasons beyond their control. These guys start sending texts to your contacts the day after the loan is due. Their victims should never pay a dime back. They have already collected their payments in kind 2 Likes |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by Oyerinde16(m): 8:07am On Sep 14, 2021 |
Dodoproperties: U don't know what's up, |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by YoungBlackRico(m): 8:07am On Sep 14, 2021 |
Why do you guys keep doing this I wish those apps have the power to do more really. Too many bad eggs in this country yet yall quick to shout bad leadership! |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by twhy111(m): 8:09am On Sep 14, 2021 |
Newboss: This your judgement is harsh and biased. Though I don't support the way they go after the defaulters by sending texts to their contact. But put yourself in their shoes, do you feel happy when you have a bad debtor around you? 1 Like |
Re: Can I Be Arrested For Defaulting On A loan To A Loan App? by einsteine(m): 8:09am On Sep 14, 2021 |
adetayoonas: I encourage people to default on loans like this. They are unlicensed and charge 50% interest for 5 days and you expect people not to default? 50% for 5 days is over 3500% annualised. That's worse than Shylock and the more people dare to them to do their worst, the better for the country. 40-60% weekly interest is not what the country needs financially. These apps are owned by Chinese Shylocks who at the end of the day would pay any exchange rate to convert their gains to dollars and repatriate it, worsening the exchange rate problem. To any borrower, the moment they message your contacts NEVER EVER pay back. They are not going to undo the reputational damage so you would be stupid to pay back. As for that fellow saying they will beat the borrower, quit being stupid. The cost of that is higher than the value of the loan. They actually have little to no legal basis for recovery which is why their sole stock in trade is threats, emotional manipulation and social shaming. Their interest is so high that even if half their borrowers don't pay, they will still be swimming in cash. 5 Likes |
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