faithfull18:
You are the one with the heart sold to the devil. Did they come to your house to drag you out to take their loan?? You take their loan because you see it as free money, and then you refuse to pay back. Wicked soul.

Same orientation, same point. Time will tell. On the long run, even your loved ones wouldn't be saved from what your greed/get-rich-quick mentality would cause.

SIR0:


Same orientation, same point. Time will tell. On the long run, even your loved ones wouldn't be saved from what your greed/get-rich-quick mentality would cause.

You must be missing some screws in your brain. Greedy debtor. Stop begging to take loans you can't repay. Tell that to your people. They should even start collecting worthy collateral before issuing out their loans. Nigeria needs to have credit-rating records accessible to people to put you and your likes in check.

faithfull18:

You must be missing some screws in your brain. Greedy debtor. Stop begging to take loans you can't repay. Tell that to your people.

I don't have your time. That's what you're trained to do & paid for. Ripping off the desperate is your daily bread.

They should even start collecting worthy collateral before issuing out their loans.

The only good thing about some of you is that you deny your involvement with the loan sharks & that says a lot about you. May God give you a better work, so you can regain your conscience fully.

faithfull18:

You are the one with the heart sold to the devil. Did they come to your house to drag you out to take their loan?? You take their loan because you see it as free money, and then you refuse to pay back. Wicked soul.

Are you one of those bird-brained agents?

Please, try to get all the facts before you support these evil people.

Go to the Facebook page of XCredit, and read people's stories.

Check the pinned post of XCredit on Facebook, and you will see the comment of a guy demanding an apology from XCredit.

Do you know what they did to him?

They sent defamatory messages to all his contact despite not owing XCredit a dime.

Another one was threatened despite having repaid his loan. He was forced to pay twice so as not to be shamed. When XCredit received the first payment, they refused to refund the guy's second payment.

These guys are evil. They have driven many people into depression and suicide.

It is either you are one of them, in which case, you are never going to escape retribution from those you have sent to commit suicide OR you have never experienced their wickedness.

I am happy to be one of the vocal movements that have forced many of them into being shut down. Now, all I want is for the government to ban all of them, with the exception of a few legitimate ones like Branch, Carbon, and Fairmoney.

BluntTheApostle:


Are you one of those bird-brained agents?

Please, try to get all the facts before you support these evil people.

Go to the Facebook page of XCredit, and read people's stories.

Check the pinned post of XCredit on Facebook, and you will see the comment of a guy demanding an apology from XCredit.

Do you know what they did to him?

They sent defamatory messages to all his contact despite not owing XCredit a dime.

Another one was threatened despite having repaid his loan. He was forced to pay twice so as not to be shamed. When XCredit received the first payment, they refused to refund the guy's second payment.

These guys are evil. They have driven many people into depression and suicide.

It is either you are one of them, in which case, you are never going to escape retribution from those you have sent to commit suicide OR you have never experienced their wickedness.

I am happy to be one of the vocal movements that have forced many of them into being shut down. Now, all I want is for the government to ban all of them, with the exception of a few legitimate ones like Branch, Carbon, and Fairmoney.

I really don't have the time or energy to expend on unproductive talks. I don't work with any but I will never be in support of taking loans with no intentions or means of paying back. I have seen people boasts of collecting loans from different apps, people and saying they should do their worse, they wouldn't pay back.

I am in full support of those apps closing down if Credit-ratings that would be accessible to the public if possible, can't be Introduced as it is done in advanced countries. Most people who even take these loans must have exhausted the goodwill of people around them before turning to the apps.

The apps are in business, you choose to take their loan whether or not the loan conditions are favourable or not. You should also bear the consequences If you breach.

faithfull18:

I really don't have the time or energy to expend on unproductive talks. I don't work with any but I will never be in support of taking loans with no intentions or means of paying back. I have seen people boasts of collecting loans from different apps, people and saying they should do their worse, they wouldn't pay back.

And you believe that it is every defaulter that took a loan with the intention of not repaying.

Just like you know of people who had such intentions, I know of dozens who had right intentions, but were let down by circumstances beyond their control such as an account freeze, motor accident, loss of phone or others.

During the activity of reporting Sokoloan, we had the opportunity of reading very sad stories. One woman had an accident, and was in a coma.

Usually, a legitimate loan app should never even harass you, let alone shame you. They can however report you to a Credit Bureau, as well as pass you loan off as a bad one, all of which would affect your credit score.

But Sokoloan, oblivious to the fact that their client was in a coma, sent defamatory messages to everyone on her contact

That is just one of many sad cases.

I am in full support of those apps closing down if Credit-ratings that would be accessible to the public if possible, can't be Introduced as it is done in advanced countries.

First of all, these loan apps that defame people don't even keep a credit history for people.

Try it and see.

Borrow money from Branch (a respectable microfinance bank), and default for a few days. Now, pay, and reapply for a loan. Branch would have slashed your credit limit because of your last loan which become non-performing for a few days. That is because Branh keeps a credit history, and offer loans based on them.

Now, borrow money from Sokoloan, and default for a few days. Now, pay and reapply, and Sokoloan will be willing to increase your credit limit.

The difference is that Branch is not only there to make profits, but to help people stay off debt. However, Sokoloan is just there for profit.

Most people who even take these loans must have exhausted the goodwill of people around them before turning to the apps.

How did you know that most borrowers have exhausted other people's goodwill?

The apps are in business, you choose to take their loan whether or not the loan conditions are favourable or not. You should also bear the consequences If you breach.

Yes, they are in business, but they are not allowed to behave anyhow they like.

Lending business is a risky business due to occurrences of bad loans, bankruptcy files, and all that. Unsecured loans are even more risky.

So, if you are going into that business, you must make account for losses. In fact, losses are part of business, just as profits are.

The reasons why there are regulatory agencies like CBN is so that both lenders and borrowers are fairly treated.

That is why lenders should offer loans that are reasonable with tenures long enough to allow borrowers repay their loans. Google insist on 90-120 days, but these loan apps lie in their advertisement so that Google can host their loan apps on Google Play.

But many of these loan apps don't want to make losses despite knowing the type of market they are entering into. So, they use many illegal tactics to avoid making losses, including using criminal means like blackmail and death threats to recover loans.

Being in business does not give you the right to threaten people or leak confidential information to the public.

Anyone who is not ready to operate within international standards of lending should not be in the market.

That is the fact.