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Nairaland Forum / Nairaland / General / Business / Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink (22270 Views)
Loan Sharks Persist With Cruel Recovery Practices / Avoid Loan Sharks, Leverage On Microfinance Banks, Emefiele Tells Nigerians / How To Stop Loan Sharks From Getting Your Phone Contacts (2) (3) (4)
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Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by armadeo(m): 9:59am On Nov 18, 2023 |
Moniya4Real: In saner climes. Many of you guys who shout in saner climes have no idea how things work over there just that it works. Let me inform you, a large percentage of people who obtain loans from apps here would never get a bank loan over there I repeat never ever. There's a credit system there that works well, you don't have a job you're taking a loan how on earth are you going to pay back. You think loans are just dropped in your laps because you ask. Go yo your bank and obtain a loan if you're truly credit worthy. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by PARADIZEPRIEST: 9:59am On Nov 18, 2023 |
ANY LENDER THAT IS NOT GIVING ENOUGH MONEY AND ENOUGH REPAYMENT PERIOD TO INVEST OR TRADE TO PAY BACK WANTS TO FINISH YOU OFF. ![]() |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by armadeo(m): 10:00am On Nov 18, 2023 |
PARADIZEPRIEST: Then avoid them at all costs. 1 Like |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by Moniya4Real(m): 10:01am On Nov 18, 2023 |
Then ithe balk rest at the table of the government authorities then. Albinitio, those Loan sharks shouldn’t have been allowed to exist in the first place cos of the nature of their ‘modus operandi’ armadeo: |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by GloriousGbola: 10:02am On Nov 18, 2023 |
pacesetting: maybe you should focus on teaching people integrity and financial intelligence treat the symptom, not the disease ![]() also show me your friend and i will tell you who you are. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by MentalCase98: 10:10am On Nov 18, 2023 |
Only ever take loans from your BANK. Ask your personal banker for an overdraft or other loan facilities. If you have been banking with them for a long time with a well run account then you will certainly qualify. And if you don’t then just sit down and drink garri. Don’t put yourself into what you can’t handle with these dubious loanshark gangsters. 1 Like |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by HellVictorinho6(m): 10:11am On Nov 18, 2023 |
UncleKoboko: ![]() |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by LordBillionz: 10:13am On Nov 18, 2023 |
mascot87:I don't really know why some people feel ashamed that their contacts are informed of loan default. Personally, I don't care. Whenever I have the money, I will pay. If you want, tell whosoever you want, Na una sabi. So long I am not deliberately refusing to pay, I won't feel bad about this... 2 Likes |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by Sermwell(m): 10:19am On Nov 18, 2023 |
mascot87:Why will you take a loan without intentions to repay!? What you typed here is for those who have no plans to repay loans! |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by Morphinne: 10:21am On Nov 18, 2023 |
Na mumu dey pay this people after harassment ![]() ![]() Never take loans with a phone that has your original contact list and if they ever embarrass you, do not pay back again since they’ve done their worst (that used to be my policy) No go allow make some illegal mumu give you heart attack and sleepless night over meager loan offer. I don’t know why most Nigerians don’t even know that these loan sharks are illegal ![]() ![]() Lastly I’ll like to add that it’s wrong to take loans you are incapable of paying back. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by MentalCase98: 10:22am On Nov 18, 2023 |
armadeo: Not entirely true. There are plenty shady loan sharks in the UK too who give easy loans to people even those with bad credit. I had a terrible experience with one called Wonga.com back when I was a student. I think the government clamped down on them at some point sha so they might not be many now, but I’m my time there they were rampant. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by pacesetting: 10:23am On Nov 18, 2023 |
My friend? It seems you're reading my post upside down. 🤣 🤣 🤣 Now, with your outright defense of these apps, despite all I've said, I can rightly say you're one of those loan app agents. GloriousGbola: 4 Likes |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by mascot87(m): 10:24am On Nov 18, 2023 |
bukatyne: That is not the point. No one is talking about no paying here. We are talking about privacy issue 1 Like |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by pacesetting: 10:26am On Nov 18, 2023 |
My friend? It seems you're reading my post upside down. 🤣 🤣 🤣 Now, with your outright defense of these apps, despite all I've said, I can rightly say you're one of those loan app agents. Agents that communicate with their clients with disappearing Whatsapp messages. 🤣 🤣 GloriousGbola: 3 Likes |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by armadeo(m): 10:31am On Nov 18, 2023 |
MentalCase98: This emphasises my point. People with bad credit can get a loan only from a shark who doesn't by nature play by any rules. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by GloriousGbola: 10:32am On Nov 18, 2023 |
pacesetting: i pay back my debts. i do not take loans with the intention of not paying i do not look for excuses to avoid paying loans that is the difference between you and me in all of the nonsense you continue typing, you fail to address the fact that the people you allegedly defend [no evidence of this in you actual post history] are deadbeats if you actually think i am a loan agent - it says a lot about your actual intelligence and the persecution complex of the irresponsible man a person who blames everyone who calls out his behavior a person who bears no responsibility for his actions it is always some other 'wicked' person |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by armadeo(m): 10:33am On Nov 18, 2023 |
Moniya4Real: Agree with you 100%. But you cannot put your hand in the mouth of a tiger, get bit and blame the government. We also have a responsibility of looking at the tiger from afar or while in its cage and not entangling with it for any reason. That's logic. Nobody should take a loan that requires 100% payback in a week for any reason. Unless you'll be dead by the end of the week. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by bukatyne(f): 10:33am On Nov 18, 2023 |
mascot87: Nope, you have conditioned your mind not to pay. Because if you pay as at when due, they would not harass you or engage your contact list in the first place. And I pray that for every way you thevies try to outsmart them, they put measures in place to mitigate against it. If you have no means of paying back, don't borrow; beg instead. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by Morphinne: 10:35am On Nov 18, 2023 |
GloriousGbola:Is everything okay at home? I don’t know why you are bleating. The person you quoted hinted on their dishonesty but you’re here going off course. Their lending policy should be clearly stated without all their hidden abracadabra. Why should you promise someone a 100k loan to be paid in 30 days only to credit them 49k and asking them to pay an interest that’s about 90 percent of the disbursed amount in just 7 days? Would the defaulter take the loan if he’s capable of making such money in a space of 7 days? Anyways, na mumu dey fear loan shark ![]() ![]() ![]() 4 Likes |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by mascot87(m): 10:38am On Nov 18, 2023 |
Sermwell: I am not talking about not paying back your loan, I'm talking about privacy invasion which is against the law of the land |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by mascot87(m): 10:44am On Nov 18, 2023 |
bukatyne: You don't force people to take loan. As a loan company, you do proper analysis on your prospective client to ascertain if they are entitled to loan and if they can pay back. You do proper risk assessment on your prospective client and also determine how much you can loan them and at what time they can pay back. Loan sharks just want to give you loan they know you cannot pay with the hope that when they blackmail you, family and friends will help you pay. They don't care, it's all about the money. If I tell you loan sharks call me more than 10 times a day just to take loan. How they got my number I don't know. We also have instances where people that have previously taken loan and repayed get credited even when they did not apply. 1 Like |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by SeyeMan(m): 10:44am On Nov 18, 2023 |
I can give you two simple tricks to stonewall those guys until you have their money even if you are owing them: 1. Just go the app managment settings of your phone, click on the particular loan app, scroll down to permissions, and revoke their permissions to access your contact, SMS, location, and call settings. 2. Go the app managment settings of your phone, click on Whatsapp app, scroll down to permission, revoke Whatsapp permission to access your contact. This will prevent your whatsapp from showing the names of your stored individual contacts, but your Whatsapp groups will continue to display their names. Once you do these, you will see how all the threats of those guys will stop and they will be begging you to pay their money. 4 Likes 1 Share |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by Chetas81(m): 10:45am On Nov 18, 2023 |
Is04970:NIGERIAN CITIZEN SHOULD LOOK THEIR SELF INSIDE MIRROR AND SEE PROBLEM, MEAN THE NIGERIAN CITIZEN AND PROBLEM BECOME 5 AND 6 NOWADAYS THROUGH THEIR IMMORAL BEHAVIOUR |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by payaseriy: 10:46am On Nov 18, 2023 |
DKM123:you're annoying 1 Like |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by payaseriy: 10:48am On Nov 18, 2023 |
GloriousGbola:hope the loan company pays ur salary on time too |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by linearity: 10:54am On Nov 18, 2023 |
mascot87: Remove your pictures and documents too and never add contacts and pictures to phone. After installing go to your settings and disable access of the app to your contact, picture and even call logs or better still delete the app after loan disbursement. Preferable to do this on a new SIM card that you can discard after loan disbursement. 2 Likes |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by LoveJesus87(m): 11:02am On Nov 18, 2023 |
mascot87:hmmm Wise one |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by LoveJesus87(m): 11:04am On Nov 18, 2023 |
Poisonousman:oga help me |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by Sermwell(m): 11:04am On Nov 18, 2023 |
mascot87:Why should you worry about privacy invasion when you have intentions to repay?? You're advising people on how to fraudulent take loans and protect themselves against the loan apps if they default!! You're even worse than this loan agencies!! |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by sonymax16(m): 11:05am On Nov 18, 2023 |
This loan app agents are evil and are responsible for making people go into depression and commit suicide.My close friend recently fell a victim....can u imagine that my friend had only 1k remaining to balance up out of the 100k he borrowed.This particular loan agent called my friend and threatened to blackmail him as a criminal to all his contacts till he pay the 1k balance.This is the agent number 08120362310 .Please let's those that have been victims of this loan apps call this number and rain insults on him.....let him feel how victims felt when loan sharks threatened them. |
Re: Digital Loan Sharks: Shaming, Recovery Techniques Pushing Nigerians To The Brink by allenpaul(m): 11:05am On Nov 18, 2023 |
nairalee:. I just don't understand is it that some of you don't read or just choose to be stupid? If you had read those two women experienced you wouldn't be so daft to spew this craz |
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