BullyBullies:


5, Ogunsiji close Allen Avenue, Ikeja. Except they've ran away from there again as they normally do. But if that address has changed, men will track them again. One of them will be made a scapegoat, hopefully that one will be alive to tell the story to the others.

erniok:

That you defaulted doesn't make you a fraudster. Get it. That's why banks restructure loans that are past overdue.

Martinez39s:
LOL. When you default on a loan, it is up to your creditor to determine how he will retrieve his money. The fact that another creditor gives 91 days doesn't mean it must be a yardstick for your creditor. Some creditors do even let debts slide, but that doesn't mean others must follow suit. It is up to the creditor to decide.

If you can't pay back or pay at the agreed time, don't borrow. Let loan apps be and don't look for their trouble.

abbey621:


Read what I wrote carefully, some are fraudsters while some are not, using false assets, age, employment etc is considered fraud. For example, you lied on your loan application that you have a car that you own only for them to discover that you don't own the vehicle. This is considered fraud. Pray you never live in a sane country because without bankruptcy law they'll sue you for all you've got and you risk possible jail term!

Niece:
A man has accused a loan app of announcing his obituary after he defaulted, WonderTV Media reports.

The man who shared the obituary banner on a social media group wrote;


lalasticlala

Cholls:
my brother let him go and pay his debt don't discourage him

wunmi590:


If the guy knows his onions, this is an opportunity for him to be a billionaire, because the way judge would slam billions of naira on the company, they would fold up immediately

wiseone28:
What is stopping him from paying his debts

Oceanblaze:

Do you know the situation he is faced with that has made him not to be able topay ..just open mouth waaaaah...my father is mumu

Niece:
A man has accused a loan app of announcing his obituary after he defaulted, WonderTV Media reports.

The man who shared the obituary banner on a social media group wrote;what is supposed to mean??
Declared dead means you means the loan is cancel I'm correct.


lalasticlala

chatinent:
Oga, inasmuch as I don't support what they did, is it five days you are calling ordinary yet you cannot pay?

Go and repay your loan.

Who still dey even patronise these scam loan apps!

chatinent:
Oga, inasmuch as I don't support what they did, is it five days you are calling ordinary yet you cannot pay?

Go and repay your loan.

Who still dey even patronise these scam loan apps!

erniok:

I understand. We're on the same page. Note bankruptcy is different from defaulting on repayment of a facility. People default for several reasons and the least there's companies can do is restructuring those facilities.

3rdavefarms:


They will freeze up his accounts through BVN ,,, hush he will pay directly or indirectly

Brendaniel:
If the loan company have certified him dead, then he is free of the loan na, a dead man does not pay debt in the land of the living...

SultanOfPuna:
Imagine Lazarus Dey Owe Loan come die

Jesus Go Resurrect Am..

abbey621:


It's the same line, you default, they come after you. If they secure a judgment in court they can garnish your wages or confiscate your assets, only bankruptcy protection can protect you from such a situation. In 9ja, there's no such thing hence they use physical and emotional tactics. I just hate when people start blaming these companies knowing fully well the type of people living in Nigeria, people would collect loan of 500k to 1 million knowing fully well they are unemployed. Once again the ultimate fault rests on the loan company for taking such a huge risk knowing nobody can force the debtor to pay, even restructuring gets to a point where the losses far outweighs the profits leading to the business itself struggling to stay afloat. Not all loan companies have the financial backing of a bank, most have less than 5 Billion Naira in liquidity.

chatinent:
Oga, inasmuch as I don't support what they did, is it five days you are calling ordinary yet you cannot pay?

Go and pay your loan.

What if what they did you you was in their terms and conditions you didn't read but agree to?


Who still dey even patronise these scam loan apps!

Irupetepete:
bro listen to this, nobody like owing debt, you loose your peace and sanity... But then, shit happens..
Imagine collecting over 200k from a loan app and then, you were robbed at gun point beside atm...
It happens bro

erniok:

There's no way restructuring will lead to a date where losses far outweighs the profits if restructuring is justified and the idea it to let the loan stop running at default interest rate while giving the debtor is given extended tenor to repay.

chatinent:
Oga, inasmuch as I don't support what they did, is it five days you are calling ordinary yet you cannot pay?

Go and pay your loan.

What if what they did you you was in their terms and conditions you didn't read but agree to?


Who still dey even patronise these scam loan apps!

abbey621:


Well that's just not the complete truth, if there's anything you should know about Nigerians is that someone that wants to pay will usually pay and those with no intnetion of paying will not pay even if they are given 60 months to pay. Ask yourself this simple question, WHAT IS THE INCENTIVE TO PAY?

For example a company is set to make 1 million Naira on a loan of 10 million Naira paid within 1 year. Even with a restructured payment schedule, the debtor failed to pay, as the debtor who just lost his job and is facing wahala from landlord and children's school fees, would paying the loan be a priority for you? As a loan company, what other restructuring will you attempt before realizing this is a loss?

In a typical advanced country the default rate is less than 10%, for 9ja I dare you to guess the figure....You'll be SHOCKED