Next step is for them to market the defaulter family house

Tunex252:
A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

He's a criminal. He had the intent of not paying back from the onset. I'm sure that friend is you. Criminal idiot

blamingthedevil:


The policy is already in place

How come they aren't deducting yet.

It's not legally allowed.

A financial institution can only debit an account tied to a specific transaction.

You people should rest with this topic.

Loan app is a very bad idea

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

It is already existing . Global standing order. Most financial institutions are too lazy to implement it.

Forget this shyt...this loan sharks know Nigerians well, well....80% of Nigerians do not like paying debt especially the educated ones.....9 out of 10 people who refused to pay money borrowed from me have the leeway to pay but all they do is change road when they sight u

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

The only commonsensical post you made today. Congrats on your 1 minute sanity.

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

paying isn't the problem, some unexpected tgings might happened but the question is those loan company, are they ready to give you extra days for you to sort the money while the interest continue to increase ? Or they just resort to blackmail bulshit

LongBig:
Why pay back when a collateral damage have been done? If they insist on getting back their funds tell them to go do damage control. Simple!

Collateral damage??

ivolt:


They don't beg.

They beg.
Fact, they sweet talk when they Hit dead end

Tunex252:
A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

Figment of your imagination, a fairy tale.

Tunex252:
A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

LIESS!!!

https://www.nairaland.com/6854362/money-lending-cbn-efcc-fccpc

This article answers the question raised by OP.... I'm surprised it hasn't made FP.

Maybe this is a coincidence, I don't know. But today I learnt that a guy borrowed money from over 15 loan apps and refused to pay

This kind of person don't give a damn if he is blackmailed or not

These are the people that make it look difficult for people with genuine reason for not meeting up with repayment of their loans

But I think that after a person is deflamed, he or she should get a recompense for that, perhaps, the new law which is to check these excesses of online App agents should be hastened to put the embarrassment on check

Tunex252:
A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

Look at a lazy youth supporting a fraudulent friend. And you all blame banks for not giving loan to the poor. Of course the banks know that poor people are shameless like politicians

After defaming me and you expect me to payup?

Are you normal as a Nigerian, if shame dey shame you eh that means you ain't a real Nigeria

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

I thought they did already. I understand the loan sharks deduct their money from source.

aktolly54:
paying isn't the problem, some unexpected tgings might happened but the question is those loan company, are they ready to give you extra days for you to sort the money while the interest continue to increase ? Or they just resort to blackmail bulshit

U never jam debtors they all make same excuses... something came up blah blah...U are supposed to pay IMMEDIATELY u get the money on d said date, that was the agreement!
Though loan companies & bank loans are wicked devils too

Owing easybuy, I defaulted for few days and they start sending messages to my contacts.

Should I pay or not?

Or I should ask for defamation and damages control.

That policy is already in operation. It's called Global Standing Instruction (GSI).

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

If u borrow money pay back pls

Tunex252:
A friend of mine got a small android phone, buy a new sim card and save random numbers on the phone, then he went ahead and borrowed 25k from this loan sharks, they sent all sort of messages and insult to him, the guy insulted them back say what else can they do, only to defame and send stupid messages to his contacts, then he told them he his not going to pay back and they should do their worst.. omo na dem later beg my guy oo serious begging

Same with guy, Nah beg them they beg. The worse they can do is send messages. The rest are empty threat.

I had a face-off with one of the loan sharks that sent a disturbing message toe about a friend who took a loan and didn't pay. They said the friend mentioned that we agreed to get the loan and might take a drastic steps which include broadcasting my details alongside his.
When I was done finishing them, they started applogizing

joyandfaith:


It is already existing . Global standing order. Most financial institutions are too lazy to implement it.

A global standing order is executed with consent.

Cbn can not effect deductions on an account because of loans.

If I owe a creditor and I promise to repay from a specific account in bank A. I therefore give the creditor permission to debit my account in case of default.


The creditor or CBN can not debit my account in bank B without my consent.

If they do the case will end up in court and I will surely win.

DubaiLandLord1:
The CBN will soon make a law, if you borrow and you don't pay back... Anytime wey money enter the bank account linked to your BVN, them go comot your money with interest sef.

I don't understand why some of una go dey borrow money without paying back.

Bullshit

That's what it should be normally they're supposed to alert the bank so they can be debited automatically. No where in the world is defaulting on a loan a crime. You can't be arrested for it. Person wey no get money to pay back wan pay bail??. But stealing people's data and sending spam messages is a serious offense most Nigerians don't know that. They are taking advantage of defenseless people in this country and you're taking their side. Most of these companies are Chinese and God knows how much data they've stolen from Nigerians and that should be a national security issue. Not everyone has bad intentions in this country and people shouldn't be threated this way.

Nigerians and one kind foking entitlement sh!t ehn... You waka jeje go meet company collect loan... Then you feel its your right to pay anytime you like.. Forgetting these companies are running a business..and when they now take drastic measures...


You begin run mouth...begin threaten them..begin devise means not to pay... This is why we will never grow...


And now these companies are no more giving loans that easily to people...
A friend of mine that is planning an event due for christamas got denied cause of this same awful behaviour ..


Later mugu dem go begin shout Endsars....End bad governance... criminals!!!

Those guys trusted you and have you loans, do the honorable thing and pay up.

I don’t like their tactics but Nigerians are ruining those guys’ businesses

You borrow money, please try pay back...but if you chat their customer care tge reason why yiu are not able to pay on the due and they went on and send defamation message to your contact, just lock up and don't pay back, you can't spoil someone image and expect them to still pay...
They threatened a guy in my street the guy just tell them to go Bleep their self after sending bad messages to his contacts, they started begging but the guy still don't pay coz they have spoiled his image....
All of you saying CBN will remove money from account are jokers

Karlovych:
Some of these people intentionally take these loans knowing that they have no desire nor intentions to pay back, one recently bragged here that his friend took some loans and fled to Europe to further his education and he too is planning to do the same. Sometimes you begin to wonder if wickedness originated from Nigeria.

how can a loan company borrow money without collateral aba? Nigeria still they back meh,

Sowiki:
It's no news to any Nigerian that Online Loan operators resort to blackmailing their clients when they default in paying up their loans as and when due.

The blackmail usually comes in form of sending series derogatory and defaming messages to all the contacts on the defaulting client's phone. The message could be targeted at a prospective employer, client, inlaw or just any important contact on the client's contact list. The damage this can cause to the client can only be imagined.

While it's wrong to default in paying up the loan, is this approach not too drastic and unprofessional?

Question : After doing their worst and subjecting a client to this level of ridicule, does the client still have to pay back the loaned sum? If yes, how does the loan operators compensate him for the damaged caused to his person?

The propensity of an average Nigerian to cheat/defraud is just frightening.
I mean, why should paying back a loan you took be so difficult?

How do people even manage to live with such a moral burden?