Why Nigerians are not repaying online loan.
1. The loan lenders are not mature including their managers: I've come to understand that 90% of chronic deptors today had the mind to repay their loan even if they don't have it at the due time. While they are trying to gather the money including overdue charge, a friend will call them and start narrating message he or she got that the borrower is a thief and all form of derogatory messages. Most borrowers are angry after seeing such thing. And their mind change for revenge.
2. Most loan lenders are thief e.g sokoloan: They want to make billions of naira in one day. Sokoloan has more than 6 app in Nigeria. 7 days loan with high interest.
3. Most Nigerians loan lenders don't have mercy: They will be calling and sending SMS 4 days ahead of your due date when the loan term is 7 days. They don't want to no if you are on hospital bed. Most of them are not even licence.

Some loan lenders like branch, carbon, quickcheck, aella are good.

This only applies to loan sharks. Don't try it with registered loan apps such as branch, carbon etc. They can get a lien on your bank account
It is applicable to fraudsters and wicked ones such sokoloan, 9jacash, gocash, ncash, 9credit etc and for those collecting loan for the first time. If you have collected before, they already have your contacts

First, they rely on your contacts to disgrace you. Let's beat them at their own game
Steps
✓Download superbackup from playstore
✓back up your contacts using superbackup. Go to file manager> smscontactsbackup>contacts and you will see the backed up contacts as .vcf
✓disable google synchronization or remove your google account completely from your phone
✓delete all your real contacts from your phone
✓download contact generator from playstore and generate as many fake contacts as you want
✓you can now apply for loan from any of the loan sharks using the fake contacts you have generated
✓after successful loan application, delete the loan app from your phone, delete all the fake contacts and restore your real contacts using superbackup and you are good to go

HOLLY GRAM AFTER CALLING AND MESSAGING UR CONTACTS, TAGGING U AS A CRIMINAL.. PUBLIC DAMAGE. MAKING UR LOVE ONCE NOT TO TRUST U AND PEOPLE SEEING U AS A THIEF DEY NOW WANT U TO STILL PAY MONEY. I SWEAR ANY LOAN APP WEY TRY AM WIT ME, NA THUNDER GO FIRE DEM BCUS DEM NO GO SEE SHIHI.. WTF MAN

omasco922:
Why Nigerians are not repaying online loan.
1. The loan lenders are not mature including their managers: I've come to understand that 90% of chronic deptors today had the mind to repay their loan even if they don't have it at the due time.

Where did you get this number from?
Besides you don't pay loan with mind but money.

While they are trying to gather the money including overdue charge, a friend will call them and start narrating message he or she got that the borrower is a thief and all form of derogatory messages. Most borrowers are angry after seeing such thing. And their mind change for revenge.

Gather money from where exactly.
You took a loan and promised to pay in say 2 weeks when you know there is absolutely
no way you can get the money.
But because there is no collateral, you become a master who can decide to not pay at all
or pay a part of it anytime you like. This isn't revenge but stealing.

2. Most loan lenders are thief e.g sokoloan: They want to make billions of naira in one day. Sokoloan has more than 6 app in Nigeria. 7 days loan with high interest.

Why will you borrow from a thief?
Didn't you see the high interest rates before you accept the loan?
This also proves that you had no interest in paying back in the first place.
You saw the high interest rates, instead of you to back down you went ahead to
accept the loan with the believe that they can't force you to pay back.

3. Most Nigerians loan lenders don't have mercy: They will be calling and sending SMS 4 days ahead of your due date when the loan term is 7 days. They don't want to no if you are on hospital bed. Most of them are not even licence.

They are just reminding you so you won't claim you forgot.
The hospital bed story is stale, so no one believes it anymore.
The last "friend" I learnt some money to also used the same excuse
while he was actually on a vacation in a neighbouring country.

Some loan lenders like branch, carbon, quickcheck, aella are good.

Good.
Why would anyone leave the good loan company for a bad company.
It means the person must have defrauded the good ones or the good ones refuse to grant them loans for trust reasons.
So they go for the "bad" loan company to help them out.

No excuse not to pay your debt since you agreed to the terms.

ivolt:

Where did you get this number from?
Besides you don't pay loan with mind but money.


Gather money from where exactly.
You took a loan and promised to pay in say 2 weeks when you know there is absolutely
no way you can get the money.
But because there is no collateral, you become a master who can decide to not pay at all
or pay a part of it anytime you like. This isn't revenge but stealing.


Why will you borrow from a thief?
Didn't you see the high interest rates before you accept the loan?
This also proves that you had no interest in paying back in the first place.
You saw the high interest rates, instead of you to back down you went ahead to
accept the loan with the believe that they can't force you to pay back.


They are just reminding you so you won't claim you forgot.
The hospital bed story is stale, so no one believes it anymore.
The last "friend" I learnt some money to also used the same excuse
while he was actually on a vacation in a neighbouring country.



Good.
Why would anyone leave the good loan company for a bad company.
It means the person must have defrauded the good ones or the good ones refuse to grant them loans for trust reasons.
So they go for the "bad" loan company to help them out.

No excuse not to pay your debt since you agreed to the terms.

Thread need not go any further than this. You’ve educated the sly Nigerian.

Op fear God look at the way you heap all the blame on the lender.

It seems you are one of the gbese gang and you are trying to justify your actions.

Me I no fit borrow money to any Naija person again. I have learnt the hard way. Nigerians are quick to borrow when it comes time to pay you start hearing stories.

Someone dey own me Oga pay me, he say no vex I used the money wey I wan pay you use do birthday for my pikin. No worry I go pay you next month end.

Naija people una get mind

danniyal:
This only applies to loan sharks. Don't try it with registered loan apps such as branch, carbon etc. They can get a lien on your bank account
It is applicable to fraudsters and wicked ones such sokoloan, 9jacash, gocash, ncash, 9credit etc and for those collecting loan for the first time. If you have collected before, they already have your contacts

First, they rely on your contacts to disgrace you. Let's beat them at their own game
Steps
✓Download superbackup from playstore
✓back up your contacts using superbackup. Go to file manager> smscontactsbackup>contacts and you will see the backed up contacts as .vcf
✓disable google synchronization or remove your google account completely from your phone
✓delete all your real contacts from your phone
✓download contact generator from playstore and generate as many fake contacts as you want
✓you can now apply for loan from any of the loan sharks using the fake contacts you have generated
✓after successful loan application, delete the loan app from your phone, delete all the fake contacts and restore your real contacts using superbackup and you are good to go

So defrauding via yahoo yahoo with the justification that you guys are "repatriating stolen" is not enough. Now you guys are into defrauding online loan shops, are all repatriating stolen funds or what is the justification here?

Most Nigerians see not repaying loans as being smart and wise. Nigerians love eating what they didn't cook and reaping where they didn't sow. OP you're a debtor, pay back your loan

ivolt:

Where did you get this number from?
Besides you don't pay loan with mind but money.


Gather money from where exactly.
You took a loan and promised to pay in say 2 weeks when you know there is absolutely
no way you can get the money.
But because there is no collateral, you become a master who can decide to not pay at all
or pay a part of it anytime you like. This isn't revenge but stealing.


Why will you borrow from a thief?
Didn't you see the high interest rates before you accept the loan?
This also proves that you had no interest in paying back in the first place.
You saw the high interest rates, instead of you to back down you went ahead to
accept the loan with the believe that they can't force you to pay back.


They are just reminding you so you won't claim you forgot.
The hospital bed story is stale, so no one believes it anymore.
The last "friend" I learnt some money to also used the same excuse
while he was actually on a vacation in a neighbouring country.



Good.
Why would anyone leave the good loan company for a bad company.
It means the person must have defrauded the good ones or the good ones refuse to grant them loans for trust reasons.
So they go for the "bad" loan company to help them out.

No excuse not to pay your debt since you agreed to the terms.

still use this energy comment on the guy that has paid his loan but the company still sent deformatory texts to his contacts and also about those whose account were debited by those companies without owing them a dime. Don't be a hypocrite.
NB: nobody wants to be disgraced before his closest people because of meager money not even up to 50k,so I agree with ops statistics,they intended paying but the manners they were treated and unforseen circumstances made them not to.

ivolt:

Where did you get this number from?
Besides you don't pay loan with mind but money.


Gather money from where exactly.
You took a loan and promised to pay in say 2 weeks when you know there is absolutely
no way you can get the money.
But because there is no collateral, you become a master who can decide to not pay at all
or pay a part of it anytime you like. This isn't revenge but stealing.


Why will you borrow from a thief?
Didn't you see the high interest rates before you accept the loan?
This also proves that you had no interest in paying back in the first place.
You saw the high interest rates, instead of you to back down you went ahead to
accept the loan with the believe that they can't force you to pay back.


They are just reminding you so you won't claim you forgot.
The hospital bed story is stale, so no one believes it anymore.
The last "friend" I learnt some money to also used the same excuse
while he was actually on a vacation in a neighbouring country.



Good.
Why would anyone leave the good loan company for a bad company.
It means the person must have defrauded the good ones or the good ones refuse to grant them loans for trust reasons.
So they go for the "bad" loan company to help them out.

No excuse not to pay your debt since you agreed to the terms.

Don't mind them.

Shame is something sorely lacking in many Nigerians.

This same OP would be in front seat of a Church or Mosque shouting to God.

samuel051:
still use this energy comment on the guy that has paid his loan but the company still sent deformatory texts to his contacts and also about those whose account were debited by those companies without owing them a dime. Don't be a hypocrite.
NB: nobody wants to be disgraced before his closest people because of meager money not even up to 50k,so I agree with ops statistics,they intended paying but the manners they were treated and unforseen circumstances made them not to.

No, they didn't intend paying.
Most have no idea of the consequences of not paying.
What usually happens is that they took loan from one company and refused to pay.
They then tried it with another and got a shocker.

It will interest you to note that the good companies the OP listed have started reducing loans for many
customers because of the loss they incur from loan fraudsters.
Some who could borrow 20K before have been downgraded to 2 to 5K despite no history of default.

ivolt:

No, they didn't intend paying.
Most have no idea of the consequences of not paying.
What usually happens is that they took loan from one company and refused to pay.
They then tried it with another and got a shocker.

It will interest you to note that the good companies the OP listed have started reducing loans for many
customers because of the loss they incur from loan fraudsters.
Some who could borrow 20K before have been downgraded to 2 to 5K despite no history of default.

and those whose money were stolen from their accounts nko and those that paid up their loans and the companies still went to send text to their contacts. Say something about that pls..

You see they are so quick to judge and condemn people who refused to pay but will never address the flaws from the loan companies. Why are Nigerians like this sef or are Nigerians programmed to think only one way because the situation favors them or their family members,i give up on this country.