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Nairaland Forum / Nairaland / General / Business / What Will Happen If One Fails To Pay Back Loan From Loan App? (286792 Views)
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Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 2:04pm On Jan 12, 2020 |
toniblacman: Nothing do you jare�� 2 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by victorjoe(m): 2:05pm On Jan 12, 2020 |
Omo! Them don call everybody for my friends list say I de owe them o. Come to think of it, no be say I no been want pay o, na them no give me method to take pay them. I come kuku vex as them call my people say I no want pay them for now. I come hear say them go report me to one bureau like that. Anyway, I come de pay them small small till impay finish. 3 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by bluefilm: 2:05pm On Jan 12, 2020 |
Nothing go happen. 1 Like |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Catchfirez: 2:06pm On Jan 12, 2020 |
Once you download those app, they copy all your contact and SMS. When you default they contact all your contacts letting them know you are debtor. Avoid Sokoloan and Nodcredit. Siloam will call insult all your contact, even your dead contact wont escape it. They are so Rude, you will regret taking loan from them. As of NoDcredit. They won't disturb you, they will make sure your accumulate from 20k plus to 200k in 6 months, then they will arrest you. Only God knowshow they always find there debtor and they will make sure you pay the money before they release you. The rest na Audio threat. The only people I believe report to credit bureau is paylater and fairmoney. 19 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by sluvy4tune(m): 2:06pm On Jan 12, 2020 |
toniblacman: I don't think this is completely correct sir I started using branch when they were giving me 1500 But right now my last loan with them was over 140k 12 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by MarianaTrench: 2:06pm On Jan 12, 2020 |
It is criminal to borrow money and refuse to pay back! 24 Likes 3 Shares |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Staro: 2:07pm On Jan 12, 2020 |
olasco2035: Try to pay up. They would have already reported you to Credit Bureau and you may not be able to access loans from financial institutions in the future because of your bad credit history. 7 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Reffone: 2:08pm On Jan 12, 2020 |
Am guilty of this cause nobody wan employ me and no good institution to give out capital for young entrepreneurs God help me tomorrow they start calling for their pay back 7080Opay God help me pls 4 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by armadeo(m): 2:08pm On Jan 12, 2020 |
UDOKABESTLUV: This here is why loans are difficult to get. Tou need money for one reason or the other, you borrow it and for another reason or the other you cant pay. Best advise dont borrow if you cannot pay. On topic you will see wahala that will befuddled you if you use loan app. They are registered and will Bleep you up so bad you will be shocked 7 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 2:08pm On Jan 12, 2020 |
A friend of mine borrowed 10k from a very popular loan company and decided not to pay for three years. He had the money to pay back but he just did not want to pay. Three years later, he wanted a loan from another loan company; the ones with physical locations. They asked him if he was owning another company, he said no. Then the man showed him his credit report where he was owing the online loan company. The man told him to go pay that loan before he can access the new loan. Immediately he paid the online loan company, a few weeks later, this offline loan company gave him 70k loan. ==================================================================================== ==================================================================================== I started with a certain loan company in 2016. Started borrowing small money till I could borrow 200k. At one point, I borrowed 100,000 Naira to pay back in six months. I paid up till the 4th month and things became messy. I could not pay for the fifth month and sixth month. In the seventh month that my loan repayment period had elapsed, I paid for both the fifth and sixth month at once. I tried to borrow from this same company after a while and the loan offer they gave to me was 20k. ==================================================================================== ==================================================================================== Whenever I borrow money from one loan company, another loan company does not give me loans until I settle the previous company I am owing. ==================================================================================== ==================================================================================== Some loan companies will keep adding interest on top of your loan. So the day you are ready to pay, your debt would have accumulated to a huge amount of money depending on how long you took before you paid back. These loan companies report to a credit bureau. The credit bureau is like a union of companies that give out loans and the bureau reports back to CBN. There is also reports that if you do not pay back your loan, you won't be allowed to travel out of the country. If you don't pay back your loans, it will be hard for you to get reasonable loan amounts in the future. ==================================================================================== ==================================================================================== The truth is, there are loopholes when it comes to paying back loans and some Nigerians are exploiting it. 25 Likes 3 Shares |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by sammyj: 2:08pm On Jan 12, 2020 |
You will be blacklisted on the credit bureau system as a bad debtor !! UDOKABESTLUV: 5 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by NCANCHAIR(m): 2:08pm On Jan 12, 2020 |
Please I need the link bro. I want to start using the carbon. What is the minimum and maximum amount they can give out? Thanks in anticipation oluwafreshkid: |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by MarianaTrench: 2:09pm On Jan 12, 2020 |
Catchfirez: How come is it that you know all this? 7 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by MartinsD12(m): 2:09pm On Jan 12, 2020 |
UDOKABESTLUV:This thing is simple, those loan company are wise, listen op you submitted your bvn the money is credited into your bank account if you don't pay up on time let's say you borrowed from Migo money formerly kwikmoney to pay in two weeks or a month and after a month or a week you did not pay up, it's simple you pay extra interest and fine after that two weeks elapses and you couldn't pay the third week more interest will incur then when it's up to 28 days grace period it means you Don enter default period so you bank account will be charged immediately with the consent of the bank, read terms and conditions before applying its written there 5 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Edoziesmart(m): 2:09pm On Jan 12, 2020 |
Nothing will happen to you brother. I'm owing kwikmoney 20k since September 2019. And I don't intend paying them because there service was not fair to me at all. I migrated to branch last November and collected 2k from them. Which I even forgot do to busy schedule. I saw there warning messages yesterday, as I power on the phone number I used to register my bvn and bank related stuff telling me I had unpaid debt of ₦2400. Anyway I will try and pay branch tonight. But you see kwikmoney I don't intend paying those people till next 50 years. Their service was poor and their loan interest was high as I collected this last money. Imagine paying 28% of ₦20k loan within 14 days. I called to their customer care about the problem and error, and they told me they will rectify it. They refused rectifying it till my loan balance was due for repayment. That's why I harden my heart to pay them their money. 2 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Ladycewhy(f): 2:09pm On Jan 12, 2020 |
UDOKABESTLUV:except you dont intend to borrow any form of loan ever again under that BVN in this country . You will be blacklisted as a bad debtor. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by EhisChelsea1(m): 2:10pm On Jan 12, 2020 |
Neduzze5: All these app na patience. If u had continue with them and pay on time, u would have bn given higher amount. Personally, I use Branch and Carbon. They are d best. Many times I don default, dey don't stress me. They send a gentle reminder and wait.... Branch sef don wipe my loan twice and Carbon don wipe my loan once.......remove am and mark am as loan fully paid.... 6 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by ZackOF: 2:10pm On Jan 12, 2020 |
UDOKABESTLUV:they will notify your contacts by sending messages to them informing them that you owe them. Based on my experience with some loan apps some will increase the interest as the days go by, example is palm credit while some won't such as branch and moneypal by zedvance 1 Like |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 2:10pm On Jan 12, 2020 |
NaijaDonCast: ""most times they have the 4 last digit on your ATM"" Who told u dis? 2 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by agarawu23(m): 2:10pm On Jan 12, 2020 |
I know about kwickmoney from etisalat alone and I know they do message contacts on your phone to talk to you. They will even send message to your girlfriend and toasters including your enemies that you are owing them. 3 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Coldie(m): 2:11pm On Jan 12, 2020 |
isan:Lies |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Edoziesmart(m): 2:12pm On Jan 12, 2020 |
MartinsD12: So why haven't kwikmoney debit me since September I borrowed 20k from them? Stop making the man to fear. Nothing will happen apart from you won't collect loan from any bank or app again till you pay your debts 4 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by fykes(m): 2:12pm On Jan 12, 2020 |
olasco2035:Nigeria sha, we sabi abuse things... Na buhari cause am finally 12 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by oluwafreshkid(m): 2:12pm On Jan 12, 2020 |
NCANCHAIR:Search for Carbon on Google Play |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Edoziesmart(m): 2:13pm On Jan 12, 2020 |
isan: Stop spreading fake information. Talk what you know. 4 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Catchfirez: 2:13pm On Jan 12, 2020 |
MarianaTrench: Lol.. experience na master. 2 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Kennyideal(m): 2:13pm On Jan 12, 2020 |
Mind you....you cant even travel out of the country...as ur visa will be denied cos of it.... Ur bvn is flagged as well...even if u open anoda account elsewhere with anoda bank.....they'll definitely reach you... 6 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Fantazy(m): 2:13pm On Jan 12, 2020 |
olasco2035: What about ur bank account? Are they tampering with it? |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Uchila79: 2:14pm On Jan 12, 2020 |
First of all what’s the name of the Loan App, let me try something first |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Kobicove(m): 2:14pm On Jan 12, 2020 |
UDOKABESTLUV: Why would you want yo borrow and not pay back? 4 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by flexyrule(m): 2:14pm On Jan 12, 2020 |
dominique:How please? I have a loan that company that need this information like gold. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by kunleweb: 2:15pm On Jan 12, 2020 |
pwansunriseteam: Hahahahahaha. My belle o 1 Like |
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