Dest8sman:
What will happen to unsettled loans?

Just thinking aloud.

kunlesehan:
Exactly. The action is a bit harsh.

Goalnaldo:
Sigh. The two companies I'm owing are not there. Lcredit and Ajeloan

Burgerlomo:
Some debtors right now

Jibsonified:
The shutting down isn't complete without Lcredit on that list

Drosonogasta:
My dude would be the happiest man for now bcus, He's indebted to nearly all enlisted companies

danniyal:

How can the government regulate a criminal entity that is not registered and operate from a hideout. It took the fccpc several months to track them down. Are you trying to say arm robbery is a good thing and should be allowed because it provides income for some criminal elements?

MadamVanessa:





Nice one if it's true.

This thing has plunged a lot of people into pitiable debt.

But I don't know how someone can loaned money and find it very hard to pay back on the agreed date. When the loan company start disgracing them, they start crying foul. Some of them will run to nairaland to seek for help. Very stupid and uselesssss people infact thieves. I don't blame loan companies at all for their actions.

BluntTheApostle:


Did you say harsh?

The operators should be in jail for data breaching in the first place.

And have you seen the shaming messages they send to borrowers?

Let those thugs be out of job so that they can feel what more than half of Nigeria's 206 million people feel.

KillJoy62:

So what then happens to people's personal informations like bvn and bank details and all that? Anyways thank God I was about to make payment today to one of them, let me use their money flex this weekend joor. Enough beer to celebrate.

ednut1:
You have no means of repaying yet people borrow from there why Is that not criminal intent

BluntTheApostle:


Those ones are armed robbers.

You apply for a loan of 10k to repay 20k.

They send only 6k to you, and still expect you to pay 20k at the end of the day.

I am compiling a list of them. Someone sent LCredit to me, and I did my findings.

I will first report them to Google, and then to NITDA and FCCPC.

KillJoy62:

So what then happens to people's personal informations like bvn and bank details and all that? Anyways thank God I was about to make payment today to one of them, let me use their money flex this weekend joor. Enough beer to celebrate.

CryptoClub2018:
Those loan apps are criminals and they shouldn't be allowed to operate in our space. They are mostly Chinese and Lebanese companies who doesn't care about privacy invasion. Defamation and blackmail isn't a good strategy for loan recovery

MadamVanessa:





Nice one if it's true.

This thing has plunged a lot of people into pitiable debt.

But I don't know how someone can loaned money and find it very hard to pay back on the agreed date. When the loan company start disgracing them, they start crying foul. Some of them will run to nairaland to seek for help. Very stupid and uselesssss people infact thieves. I don't blame loan companies at all for their actions.

ednut1:
You have no means of repaying yet people borrow from there why Is that not criminal intent

MrPADDY:
Sad development for the lenders and the borrowers. The federal government should have found a way to regulate the sector, instead of forcing them to close shops.

DeepSight:


This is a simplistic response. Defaults on loans are a fact of life everywhere in the world. The response to such defaults needs to be proper, not criminal.

Splitmind:
Very good.

They should go after Kudabank as well.

mrvitalis:

Really ? Do u know how repossession works all over the word ? Lmao

lifenija:


stop being foolish biko