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Nairaland Forum / Nairaland / General / Business / What Will Happen If One Fails To Pay Back Loan From Loan App? (274918 Views)
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Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by zeedof(m): 2:57pm On Jan 12, 2020 |
I am a banker and a credit officer...... Though nothing will happen to you, no body will arrest you or disturbed, they will only percified you to pay back. But if you are the type that want to grow in future and want to access facilities, i will advice you to pay and always pay at stipulated date... because, your record on credit bureau will be flag.. Meaning no bank can grant you facilities, no standard or reputable organization can do business partnership with you again, even it can affect you in traveling process.... it's will always show that you have bad credit... 22 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by ENG0701: 2:58pm On Jan 12, 2020 |
People don't know that trust is capital. Businesses have a hard time getting funds for their ideas because of financial institutions don't trust Nigerians. Now you have companies taking a gamble, and we can think of is how to cheat this system. This is really sad. If you don't have the intention of repaying, don't borrow. It's that simple. Cheating the system doesn't make you smart, it makes you a cheat, and a cheap one at that. 23 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Mcslize: 3:01pm On Jan 12, 2020 |
UnknownT: It means you will be saving money on piggy box for life then cuz a person is only assigned one BVN irrespective of whether you operate 4 bank accounts. Does it mean you will never make money for life to save in the bank? In the advance countries, things like this will hugely affect one cuz they operate a credit card system. No company will ever grant you credit card if one is fond of not paying back. And trust me, without that, such person life will be terrible. 8 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by rainmoredays: 3:01pm On Jan 12, 2020 |
Nothing |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by oshiokpu(m): 3:01pm On Jan 12, 2020 |
dominique: You people will just be spewing out ignorance with Confidence..Babe no vex abeg, na nonsense you write. If you don't know, say you don't know. 3 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Edoziesmart(m): 3:03pm On Jan 12, 2020 |
oshiokpu: You want Dominique to ban you shey? ![]() ![]() |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by neonly: 3:03pm On Jan 12, 2020 |
NaijaDonCast: U must be a banker |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by lastchild: 3:03pm On Jan 12, 2020 |
Edoziesmart:unbelievable, so how do these people get back their money frontier people that refused to pay |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Edoziesmart(m): 3:05pm On Jan 12, 2020 |
ENG0701:We will pay our debt at the appropriate time. Country is hard now ![]() ![]() 12 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by akaahs(m): 3:05pm On Jan 12, 2020 |
toniblacman:Bros how long maximum the loan can go? |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by LZAA: 3:08pm On Jan 12, 2020 |
A friend took a loan from one sokoloan company I think he defaulted by 2 or 3 days then the next thing dem send me text say make i tell am to pay or dem go arrest am(or something along that line ![]() 4 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Edoziesmart(m): 3:09pm On Jan 12, 2020 |
lastchild: No way they will get their money back if defaulter like me refuse to pay back. Rather it will affect the defaulter credit score. Which will make it difficult to apply for any future loan in any company in Nigeria. Both online and offline. And the person won't have access to apply for credit card in future, if Nigeria decided to start issuing credit card to eligible people. I will pay my own back though, but not now. 1 Like |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by MartinsD12(m): 3:13pm On Jan 12, 2020 |
pwansunriseteam:Bad man ![]() |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by connectingsoft1: 3:16pm On Jan 12, 2020 |
pwansunriseteam:shee 2m dey enough for Canada processing ni ? |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by akaahs(m): 3:16pm On Jan 12, 2020 |
UDOKABESTLUV:How do one go about it, as in... The process and criteria. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by dominique(f): 3:17pm On Jan 12, 2020 |
oshiokpu: Read and digest the bolded below. Its a long procedure but if those loan people flag your BVN and report you to CBN and one board like that, they'll deduct your money plus more interest than agreed and nothing will happen. Maybe they don't do that to all defaulters but a handful will still be used as scapegoats. It's better not to apply for loan if you don't have any plans or means of repayment Mufasa2010: 1 Like 2 Shares |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by ahatson(m): 3:18pm On Jan 12, 2020 |
They will always get their money back, that is the importance of your bvn, they will have to look through all the accounts in different banks linked to your bvn and auto deduct their money, once any money enters any of the account. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Ashirioluwa: 3:20pm On Jan 12, 2020 |
UDOKABESTLUV:Definitely you don't want to pay the money you borrowed.........too bad bro Remember they have your BVN. They will find you. 1 Like 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by simplex2: 3:21pm On Jan 12, 2020 |
lastchild: Most loan companies pay heavily for insurance premiums to cover for bad loans. That is why interest rates are high most times. Most times, bad debts are recovered through insurance companies 2 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by encryptjay(m): 3:21pm On Jan 12, 2020 |
Why should you borrow money and not pay back? Some of you just borrow money and expect someone to just forget about the whole stuff. You guys should stop making things difficult in this country. 13 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by omomummy13: 3:23pm On Jan 12, 2020 |
UDOKABESTLUV: You're criminal minded. If you don't have the means now, give them a call to restructure the loan. From all indications, you don't have the intention to pay back. Well, I've got good news for you. Karma is a bitch 7 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Thegoodone13(m): 3:25pm On Jan 12, 2020 |
Neduzze5:it happened to me to. I use my salary account collected 100,000 from access bank and the bank refused to deduct the loan up till now. I went to their office to complain, they said they can't collect the money from me unless they deduct it directly from my salary account. I email the bank and nothing was done. How can I pay them? 1 Like |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by walex2(m): 3:26pm On Jan 12, 2020 |
Drakkernoir:that is what they charge and if you default one day they will treathen and abuse you becuase they have stolen your personal data through GPS, if you have sokoloan app on your phone delete it inmediately 2 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by walex2(m): 3:27pm On Jan 12, 2020 |
Influential101:terms and condition of stealing your personal data? where was it written |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by sugarcoatted(f): 3:30pm On Jan 12, 2020 |
PremiumTrends: CBN has given banks the right to do so. Sometime last year. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Nobody: 3:31pm On Jan 12, 2020 |
. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by phenzy(m): 3:32pm On Jan 12, 2020 |
Nigerians go sha want to bastardize everything 3 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by mujaya1(m): 3:32pm On Jan 12, 2020 |
please help me, i have the same problem, sometime last year my friend collect me a loan of 5k which he stated that is a trader moni by pmb buhari, last last i discover is a loan from rapidcash which at that time i don,t have money to repay my loan later i got the 5k to pay the loan but to my suprice they deduct 9k from my friend account, also they deduct 14k from other account, this put me in fear up to now i never pay they loan, but rapidcash stop sending me message, how should i go about it. |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by lastchild: 3:34pm On Jan 12, 2020 |
simplex2:great information |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by mascot87(m): 3:37pm On Jan 12, 2020 |
walex2: Please how can they be removes from playstore? I want to champion that process 2 Likes |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by maddman: 3:40pm On Jan 12, 2020 |
Alexmecury4: They get it the moment you installed their apps and give them permission to your contacts, call log, calender and SMS. Remember that yes you clicked? 7 Likes 1 Share |
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by sugarcoatted(f): 3:40pm On Jan 12, 2020 |
oshiokpu: She didnt spew any rubbish. Cbn has given financial institutions the right to do so. 7 Likes 1 Share |
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