With great disdain, I want to reiterate that whoever that is in support of these unregulated loan apps, it shall never be well with them. Amen.

I Collected a loan from Cyclecash - a sokoloan subsidiaries I guess, on my due date today they sent me threatening SMS that if I didn't pay back my loan by 2pm derogatory sms will be sent to my contacts. I told them that today is my due date and the day is not yet over until 11:59pm. I told them I will pay in the evening.

They replied me very rudely that I will see. By 3pm they have already started tagging me as a fraudster sending sms to my contacts when I'm already working to pay the loan on my due date. One of them even sent me a WhatsApp message bragging that soon my contacts will begin to call me.


Please I have these questions:


Why are some Nairalanders still in support of this loan apps recovery methods even they know that it is evil to blackmail an innocent man into criminal act?

Why is the Nigerian government slow in investigating the activities of these companies?

Why are Nairaland Mods not interested in pushing complain topics about the evil acts of all these loan sharks to the frontpage?


After today's experience, I swore that any loan App that tries to tarnish my image while I'm working hard to pay them I will never pay again. You cannot harm me and then expect me to pay you.

Your experience reminds me of what i'm going through right now. There are many ways to treat defaulting customers without being hostile.

For example, if the loan duration is up to a month, the rate of defaulting will reduce. But you cannot give me a loan of 30k to pay back 42k in just 7 days. Things like this make lots of people to default.

May God save us from these apps.

Vansam:
Your experience reminds me of what i'm going through right now. There are many ways to treat defaulting customers without being hostile.

For example, if the loan duration is up to a month, the rate of defaulting will reduce. But you cannot give me a loan of 30k to pay back 42k in just 7 days. Things like this make lots of people to default.

May God save us from these apps.

Exactly, this is inhumane. They could not even allow the day runs out to see whether I will pay or not.

This is evil.

The stupid sokoloan did that to me... I swear I no pay them again....

When you were requesting the loan, did you ask anyone for advice? Why must you wait till the dying minutes of the day before you pay back a loan you happily collected and agreed to the terms and conditions of repayment?

Don't litter with unnecessary topics, kid.

Bunch of ingrates ... spits on thread!!! They should lock u up... criminal

DriverX:
When you were requesting the loan, did you ask anyone for advice? Why must you wait till the dying minutes of the day before you pay back a loan you happily collected and agreed to the terms and conditions of repayment?

Don't litter with unnecessary topics, kid.

You are evil. Did u even read at all? Did u read where I said I didn't default but on my due date they started tarnishing my image. Why are some Nigerians so wicked because they are not in other people's shoes?

3verblazing:
Bunch of ingrates ... spits on thread!!! They should lock u up... criminal

Take your frustrations elsewhere. You are part of the bad people who work with them. But listen, when Nemesis catch-up with you, you will forever live in pains.

As stupid as you are, tell me what law permits a lending company to start blackmailing a customer when he has not even defaulted? People like you would not end in good way.

You will reap what you sow.

Oga pay your money. You never came here when you were about to collect the loan.. Just pay and let others borrow.

3verblazing:
Bunch of ingrates ... spits on thread!!! They should lock u up... criminal

Nigerians are selfish.. Ready to spoil another man's business with excuses. If 99% of people that take this loan do pay back- companies will increase the amount they give out- you won't be begging for 1m to start up any business. They will be willing to give it out.. But what should we now say about someone that borrowed 5k and can't pay back.. Before you borrow, always calculate.. If all this companies close now- una go start to write say Nigeria no dey do like other countries bank system. Rubbish!!!!

Mitjyland:



Take your frustrations elsewhere. You are part of the bad people who work with them. But listen, when Nemesis catch-up with you, you will forever live in pains.

As stupid as you are, tell me what law permits a lending company to start blackmailing a customer when he has not even defaulted? People like you would not end in good way.

You will reap what you sow.

you such an idiot with no sense ... if u had sense u won't spill all the rubbish u spilled here ... nobody blackmail anyone ..unless u default... since u don't have sense ... make I give u sense...every company have their T&Cs ... and once u agree to it ..u are bounded by it... maybe next time before you apply for that loan... try n be more sensible to read T&Cs..... and when you collect... pay up when u are supposed to... not when u want to...Ode!!

3verblazing:
you such an idiot with no sense ... if u had sense u won't spill all the rubbish u spilled here ... nobody blackmail anyone ..unless u default... since u don't have sense ... make I give u sense...every company have their T&Cs ... and once u agree to it ..u are bounded by it... maybe next time before you apply for that loan... try n be more sensible to read T&Cs..... and when you collect... pay up when u are supposed to... not when u want to...Ode!!

I think you are the stupid one here not the guy. Didn't you read where he said on his due date Cyclecash have decided to start tarnishing his image just because he didn't pay early on that due date?

People like you are just evil with bad intentions. How would you feel when you are trying to pay your loan on a due date but the same company you want to pay to has started sending sms to your contacts? You are a disappointment.

3verblazing:
you such an idiot with no sense ... if u had sense u won't spill all the rubbish u spilled here ... nobody blackmail anyone ..unless u default... since u don't have sense ... make I give u sense...every company have their T&Cs ... and once u agree to it ..u are bounded by it... maybe next time before you apply for that loan... try n be more sensible to read T&Cs..... and when you collect... pay up when u are supposed to... not when u want to...Ode!!

Since you insulted me first, let me start by calling you a ba*stard. You fool, stop disgracing yourself. Where in their T&C that permit them to defame my character on a due date when am willing to pay? Any measure to be taken to recover a loan should be done after a payment default. Any form of harassment on a due date is illegal. I Pity your parents for sending you to a local school, that's why u are displaying your stupidity. Bas*tard.

Mitjyland:



Since you insulted me first, let me start by calling you a ba*stard. You fool, stop disgracing yourself. Where in their T&C that permit them to defame my character on a due date when am willing to pay? Any measure to be taken to recover a loan should be done after a payment default. Any form of harassment on a due date is illegal. I Pity your parents for sending you to a local school, that's why u are displaying your stupidity. Bas*tard.

lol..look at this shameless debtor o...anyways you are dancing to the music u played ...so keep dancing to it... oloun a wa Pelu e...

Vansam:



I think you are the stupid one here not the guy. Didn't you read where he said on his due date Cyclecash have decided to start tarnishing his image just because he didn't pay early on that due date?

People like you are just evil with bad intentions. How would you feel when you are trying to pay your loan on a due date but the same company you want to pay to has started sending sms to your contacts? You are a disappointment.

did u see prove?.. or ur just following what he said ... you are definitely an idiot... you come up with a story like this without proof and pple shld just believe ?..you and the OP dey ment...

3verblazing:
did u see prove?.. or ur just following what he said ... you are definitely an idiot... you come up with a story like this without proof and pple shld just believe ?..you and the OP dey ment...

Which prove oga they are doing it to people and Lcredit did it to me... On the exact day my load duration expire they message my contact and even threaten to destroy my image.....

And so they did so I kept my money then after 2 week the idiot called me and I remind them of there action that am not paying a dime..

Make them do them worst I nor dey pay. They even called my bro that's a police man. He said if he catch them ehn �����

Sammybase:


Which prove oga they are doing it to people and Lcredit did it to me... On the exact day my load duration expire they message my contact and even threaten to destroy my image.....

And so they did so I kept my money then after 2 week the idiot called me and I remind them of there action that am not paying a dime..

Make them do them worst I nor dey pay. They even called my bro that's a police man. He said if he catch them ehn �����

How did it end?

I didn't collect loan but, I was sent a message that I am a guarantor for someone I don't even know. I told them that they should settle the loan with the person, an the representative told me I would be defame and all that. I said go ahead and do it...

Here

Another

Sometimes I get random messages from Sokoloan, palm credit, xcrosscash, Lcredit and the rest, informing me about bonus and loans to collect.

They have stopped for some time now.

Op if you pay back you be mumu.

It's because people pay them after the blackmailing that they continue doing it.

The damage intended has been done. Once you get the money, send bulk sms to all your contacts and spend the remaining amount.

Nonsense.

Palmcredit just now

DriverX:
When you were requesting the loan, did you ask anyone for advice? Why must you wait till the dying minutes of the day before you pay back a loan you happily collected and agreed to the terms and conditions of repayment?

Don't litter with unnecessary topics, kid.

You are the one conducting yourself like a stupid kid here.

Your Brain is too blocked to reason and understand.

The issue is not about taking loan; it is about loan companies not sticking to their terms of agreement.

How come you are too dumb to understand the post?!

Mitjyland:



You are evil. Did u even read at all? Did u read where I said I didn't default but on my due date they started tarnishing my image. Why are some Nigerians so wicked because they are not in other people's shoes?

People like DriverX are not wicked. They are just dumb and stupid

perousd:

How did it end?

I am not paying a dime and would not pay.... Let them do what ever they want

Sammybase:


I am not paying a dime and would not pay.... Let them do what ever they want

good

mybiz234:


You are the one conducting yourself like a stupid kid here.

Your Brain is too blocked to reason and understand.

The issue is not about taking loan; it is about loan companies not sticking to their terms of agreement.

How come you are too dumb to understand the post?!

stop borrowing without paying

Sammybase:


I am not paying a dime and would not pay.... Let them do what ever they want

I'm in your shoes now. Thinking of not paying too... But everyone around me is pleading I do. I get coconut head Sha. Nobody has Monopoly of madness.

I didn't take loan and if I do, any defaming messages means it's over. I didn't sign up for that, it's not even in the terms and conditions.
I haven't seen any bank or even Branch app do that before.

DriverX:
stop borrowing without paying

What of loan companies sending defamatory messages before the due date? You have nothing to say about that, right?

Your Brain is dull like that of a fixated fool.

You sound like one of the dumb fools sending the defamatory messages.

mybiz234:


What of loan companies sending defamatory messages before the due date? You have nothing to say about that, right?

Your Brain is dull like that of a fixated fool.

You sound like one of the dumb fools sending the defamatory messages.

you're a fool

If you don't owe, they won't defame your poor self

To avoid defamation, pay up on the day you agreed to pay up . Fool