sorepco:
Why are we in Nigeria adverse to repaying loan? How can we develop with no access to loan like other countries?

I didn't have it in my mind to not pay back till they sent those nasty messages to all my contacts

sorepco:
Why are we in Nigeria adverse to repaying loan? How can we develop with no access to loan like other countries?

What loan sharks give are not loans but illegal lending, what sought of loan has 6 days duration with over 50% interest?

Nonexisting:
Which sue? Did they force him to accept the terms and conditions of the loan? He should go and repay his loan biko.

Does the term and condition include defamation? Defamation = No more payment

Thugnificent:
I didn't have it in my mind to not pay back till they sent those nasty messages to all my contacts

Now that you have been defamed. If you pay back then you are a mumu man. Don't ever pay them again

Young man put your mind at rest make them go collect the money from your family now.

Them no get sense at all. If I be u I know go pay again I swear.

But why are we like this as a nation.... You took the loan, you knew the terms and conditions, you were aware that they would defame your name if you default.. yet you collected their loan and spent the money. The deadline they gave to you passed and you defaulted... Now you came to nairaland to complain, what are we suppose to do? You shouldn't have collected their loan if the terms and conditions are not okay for you.

They are a company too and they need to make profits. Unfortunately this is the way they operate to ensure people pay up (though i believe is very bad and a wrong strategy)....if not many people will collect their loan without repayment.

Simply put, you had you self to blame. Thier terms and conditions weren't a secret. You knew that's how they operate...why then are you complaining

CryptoClub2018:


Now that you have been defamed. If you pay back then you are a mumu man. Don't ever pay them again

I've decided not to pay again but they won't stop sending this sort of embarrassing messages to my contacts that's the issue. I've joined the FB group. Thanks alot

magnificient7:
But why are we like this as a nation.... You took the loan, you knew the terms and conditions, you were aware that they would defame your name if you default.. yet you collected their loan and spent the money. The deadline they gave to you passed and you defaulted... Now you came to nairaland to complain, what are we suppose to do? You shouldn't have collected their loan if the terms and conditions are not okay for you.

They are a company too and they need to make profits. Unfortunately this is the way they operate to ensure people pay up (though i believe is very bad and a wrong strategy)....if not many people will collect their loan without repayment.

Simply put, you had you self to blame. Thier terms and conditions weren't a secret. You knew that's how they operate...why then are you complaining

Which terms and condition that includes defamation of character? Oga nothing like that in all honesty.

magnificient7:
But why are we like this as a nation.... You took the loan, you knew the terms and conditions, you were aware that they would defame your name if you default.. yet you collected their loan and spent the money. The deadline they gave to you passed and you defaulted... Now you came to nairaland to complain, what are we suppose to do? You shouldn't have collected their loan if the terms and conditions are not okay for you.

They are a company too and they need to make profits. Unfortunately this is the way they operate to ensure people pay up (though i believe is very bad and a wrong strategy)....if not many people will collect their loan without repayment.

Simply put, you had you self to blame. Thier terms and conditions weren't a secret. You knew that's how they operate...why then are you complaining

Show us evidence of the terms and conditions that includes defaming, since it's no secret show us

Oh so sorry about that.

Bro just chill no panic at all,
We plenty for the same shoe everywhere. You are not the first person to be defamed.
God punish all these loan sharks out there

I had similar issue with Xcredit. I payed my loan through Quickteller and they didn’t receive it. I provided screenshots and mails from Quickteller saying the transfer was successful. The next thing their agent said am and did broadcast to my contacts. My contacts insult their lives first. After 24 hours the stupid Xcredit sent me a message that my loan has been cleared. Since then anything loan app I don forget am. Thank God things has been better with me.
Please avoid loan apps they have a way having you into an endless loop of debts.

Thugnificent:
Which terms and condition that includes defamation of character? Oga nothing like that in all honesty.

It's not about show us evidence on their terms and conditions..... Why would i want to waste my time reading the normal long terms and conditions.

However, this isn't new in this country. Many people have created threads about loan sharks and how they operate. How they defame people's character if one fails to meet up. Even you know that he isn't the first and won't probably be the last.


If he said he isn't aware, then that's pure ignorance on his own part. Either way, he still have to blame him self. You can go and borrow from them and fail to pay up. When they defame your character, please come back to nairaland and also open a thread to complain and ask us where it was in their terms and conditions....smh.

Because we were there with you when you were clicking accept...

Don't pay them o. They have done their worse already.

magnificient7:


It's not about show us evidence on their terms and conditions..... Why would i want to waste my time reading the normal long terms and conditions.

However, this isn't new in this country. Many people have created threads about loan sharks and how they operate. How they defame people's character if one fails to meet up. Even you know that he isn't the first and won't probably be the last.


If he said he isn't aware, then that's pure ignorance on his own part. Either way, he still have to blame him self. You can go and borrow from them and fail to pay up. When they defame your character, please come back to nairaland and also open a thread to complain and ask us where it was in their terms and conditions....smh.

Because we were there with you when you were clicking accept...

I'm the OP and the person they defamed. I've read the terms and conditions cover to cover (a very long read indeed) and there is nothing like defamation of character written there if one defaults in payment.

Nonexisting:
Which sue? Did they force him to accept the terms and conditions of the loan? He should go and repay his loan biko.

Then what happens to my contacts and how will I fix my damaged reputation after repayment?

Thugnificent:
I'm the OP and the person they defamed. I've read the terms and conditions cover to cover (a very long read indeed) and there is nothing like defamation of character written there if one defaults in payment.

Leave the guy, he doesn't know what he's talking about. If you want to defend something or someone, you have to know the facts, the guy does know anything about loan sharks or he's an employee of one

How many months did you owe them?

Thugnificent:
I'm the OP and the person they defamed. I've read the terms and conditions cover to cover (a very long read indeed) and there is nothing like defamation of character written there if one defaults in payment.

I do not think they have to expressly write that they will defame you. But I'll like to think there would be a clause like "in the event of you not repaying your loan, Soko Loan reserves the right to use any means to recover their money" bla bla bla

Sweetplum:
It's well. Pay their loan. I don't like the way those loan companies send me wey I no know who collect loan msgs but cos they v my contact, they ll send msgs like hell.

Any message or call i receive from them, i block their line immediately. I am not a party to the loan transaction.

Firefox01:
How many months did you owe them?

the loan had 2 weeks duration and expired last week. I defaulted for 5 days due to unforeseen circumstances.

Thugnificent:
the loan had 2 weeks duration. I defaulted for 5 days due to unforeseen circumstances.

Can you imagine? Nawa o

Prefer to borrow from fam and fwends than to borrow from this loan shark.... I dread public embarrassment if Dre will be delay in paying back behind schedule .. Op, Take heart

You don't need to pay them again, honestly

magnificient7:
But why are we like this as a nation.... You took the loan, you knew the terms and conditions, you were aware that they would defame your name if you default.. yet you collected their loan and spent the money. The deadline they gave to you passed and you defaulted... Now you came to nairaland to complain, what are we suppose to do? You shouldn't have collected their loan if the terms and conditions are not okay for you.

They are a company too and they need to make profits. Unfortunately this is the way they operate to ensure people pay up (though i believe is very bad and a wrong strategy)....if not many people will collect their loan without repayment.

Simply put, you had you self to blame. Thier terms and conditions weren't a secret. You knew that's how they operate...why then are you complaining

He's a thief,he seeks the validation of thieves like him so he don't have to pay back

You defaulted and you’re complaining
You’ve no right to complain
If you can’t pay on time don’t borrow

The criminal got me laughing

Paying back doesn't make sense due to the destroying of one's image

Let me go and collect 4 million Naira loan. If them like, make them contact the whole Nigeria.
I go use the money go Canada

Nigerians are bad debtors. They collect loans with the intention of not paying. Who does that? In advanced countries, they give study loans to students to be paid back when the student finishes school and start working. Can you do that in Nigeria? Nigeria will continue to be backwards. I can't imagine an adult who read through the terms and conditions of loans, accepts them but failed to abide by them. Very sad

Thugnificent:
Less than a week bro

Imagine that, just less than a week.

Frustrate them too until they beg you