LZAA:
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 )

lmao...how did you feel after reading the text? Did you like laugh...

smokeyupu:
NO MATTER WHAT YOU DO...DO NOT BORROW FROM SOKOLENDING...

THEY WILL SEND MESSAGES TO A SELECTION ON YOUR CONTACT LIST TELLING THEM YOU ARE A FRAUDULENT PERSON..
I OWED THEM FOR FIVE DAYS ONLY AND PEOPLE STARTED CALLING ME FROM ALL OVER THE COUNTRY
I LOST A BIG DEAL COS ONE OF MY CLIENTS GOT THE DAMNING TEXT
THEIR STAFF ARE THE RUDEST ON THIS CONTINENT

sorry but I find this funny..

Thief go pay your debt and stop killing someone business

toniblacman:
Well...sometime in April last year, my man...I took a chikini loan from this app, I used to get loans from the company, for about four occasion, but this last one con get as e be... this money refused to show up when I suppose pay back based on as area just be. Then I started getting notifications on notifications every gaddem days....later notifications turned to threats of being blacklisted my man ..e reach one time na calls dem con dey gimme to know why I never pay up judging by my record with dem. To cut long story short sha after weeks wey man no even see dis tin arrange dem confirm the threats. Now I no go fit say I wan obtain any loan from any company offering similar service unless I pay that money up and dem remove my information from that blacklisted zone. But wetin con surprise me pas be say ... nothing do me.

Explain More To Me Please

olasco2035:

Oh boy those people don call me tire....they don't even bother to call again...and nothing do me...I even deleted the app

Bro, they will arrest you ooooo

Johans1991:
pls how can i borrow from that apt. i realy need it now

Inbox Me Please

PatrioticNaija:
Naija yoots and short cut.....

If you sincerely know you cant meet up as agreed. Simply contact the facility provider and they can extend the loan tenor. Meaning you will pay more accrued interest for the extra duration of the loan.

But failure to do the above means you are a criminally minded lazyyoot and you can be arrested and prosecuted for failure to liquidate your loan as at when due + attempt to abscond......

What if the person No get money now to pay for The Loan

UnknownT:
Nothing actually. A situation where you have zero naira in all your bank accounts, using your BVN wont even work, they will just be calling your contacts telling them that you owe them debt, which is not fair on them. They cant even arrest their debtors because "where dem wan see d person arrest"

How will they know the person current location

itsme01:
just change your ATM card and absolutely nothing would happen except blacklisting you with credit worthiness agency

Have you experienced that before now

youngestgrad:
They will contact all the numbers on your phone book and tell them you are a thief.
2) They will report and submit your name to the credit bureau, that means you can't collect loans and you can't also travel out of d country till you pay your debt........but Las Las nothing go happen

Have you experienced that before now

Coldie:
Nothing I know someone who has borrowed with so many dormant account's with the loan apps yet nothing has happened to him.

Once u register with ur bank and collect the money after some time change ur ATM pin nothing would happen to u even when u put money in ur account they can't withdraw it

The problem here is, What will happen if the person No get money now to pay those Loan Company

If you refused to pay for your loan, you would not have access to take loan from any other loan app again, even bank. You'll also have like 90% declined job opportunity and your bank details would be sent to CB (credit bureau) which your details would be blacklisted on the list. Even you pay later after the threatening you will not have the chance of getting it again.

sisisioge:
1. Some of them get you to agree to an automatic debit of your account at the point of collection.

2. If you fail to credit your account, you would be disturbed via phone calls continuously to pay.

3. If that fails, you guarantor or social media good friends will be called to help appeal to you to pay.

4. If that fails, they would write you off as bad debit and report you to credit bureau.

Now if you get to number 4, you would be hurting your future assess to loans with same and other financial institutions, jobs in highly credible organizations like financial institutions and others that do thorough background checks, lose your chances with some visa applications, etc.

Biko dont borrow with the intention of not repaying. Good luck.

This Nigeria, what if the person No get money at the moment to pay them back their loan

bluefilm:
Nothing go happen.

Explain More To Me Please

eyinola:
why will u want to fail to pay back the loan even if noting will happen,years back companies like Guiness,and Noble rugs partners with our fathers to set them up in business,all they need at that time it's just a store in which those companies will supply them with goods worth millions of naira without paying a kobo only to pay back after selling and keep the proceeds from the sales,majority of them end up not paying a dime back some went to ijebu for juju so the company that helps them can stop asking for their investment, today if u don't have over 50 million u can't be a major distributor to this company leaving me and u to struggle in setting up a business today. Don't hv d mind of taking loan without paying back

Thanks a lot for this comment. If there is trust, I can give you goods and trust that you will pay later. This makes it easier for upcoming entrepreneurs to startup.
I remembered my first time in a fuel station in Toronto, you fuel your car and go inside to pay. This is possible because of trust. Such will not last a week in Nigeria as most Nigerians will want to cheat the system.

MarianaTrench:
It is criminal to borrow money and refuse to pay back!

What about someone who don't have the money at the moment to pay back

Reffone:
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

Are you on whatsapp bro

Weselion:
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.

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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.

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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.

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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.

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The truth is, there are loopholes when it comes to paying back loans and some Nigerians are exploiting it.

How can I get In touch with you bro

Edoziesmart:
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.

I need to get in touch with you bro, how will I go about it

I use BRANCH AND AELLA CREDITS.

I always pay my loans except for aella where the loan doesn't increase except taking the same amount like 5 times.

Unlike BRANCH which increases after every transaction

olasco2035:

Oh boy those people don call me tire....they don't even bother to call again...and nothing do me...I even deleted the app

And you are bragging about it on a public platform fool, sometimes people don't understand why things are so hard for them, keep going when your cup full you go drink am idiot

Edoziesmart:


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

Bro, At The Moment, Man No See Clear Now, this is Nigeria, anything can happen at anytime

Uchila79:
First of all what’s the name of the Loan App, let me try something first

Meet Me On Whatsapp Bro

agarawu23:
kwickmoney is 15% for 14 days. Check below

How can I get In touch with you Boss

NiggasInParis:
Most of these Loan apps are just Money Sharks. They keep increasing in number by the day out to take advantage of the crooked economic situation hitting hard on people. The give you loans with eye teary interest to pay back in a very short period of time.


There is only one platform which stands out and I recommend... And that is Paylater now Carbon. They give you reasonable amounts, enough time to back and as a responsible person you definitely should be able to pay back in that time. If you wouldn't, then don't go collecting the loan. Simple.


Ultimate solution?? Hustle make your money long, so much money not necessarily wealthy but at least comfortable enough, so you won't have to be jumping from one app to the other looking for petty loans that even without it you will still survive. No doubt...

Bro, You Make Alot Of Sense, How can I get In touch with you

Slimguy0:
They'll frustrate you with Calls
You begin to pay interest on each day you default
They'll frustrate you with more calls
Your mind won't be at peace at all
They may outsource to Collection agencies which could be very embarrassing
And then Prolly Flag your BVN... It's Over

Which one is collection agency, explain more

saint17:
Please is there anyone who knows any platform where I can raise funds to pay for my tuition fees
Just let me know

Go and borrow money From carbon App

MarianaTrench:


How come is it that you know all this?

he is a regular customer he knws too well

omoharry:
Wow I never knew such app existed.This is really a nice concept for an emergency,especially now in these hard times.
Nigerians pls you guys should not abuse this one oo!!Remember our bank became hardened and stopped giving us loan becos of our dishonesty.They only provide loans only to people that provide them with a strong collateral and an evidence of a good paying job or stable means or income. Pls do not abuse this.I don't know why we have been program to be dishonest at every given opportunity.
The world does not trust us anymore becos we are always looking for how to cheat or outdo any good program design to help us.

Do you want a Loan

OYEDIPE:

Don't spoil your chances in the future because of little things... Who knows? You might have a ground breaking concept that you'll want to actualize. The finance houses will say big No to you and still steal your concept because of your negative credit rating.

I’m not a debtor

UDOKABESTLUV:

How can I get In touch with you bro

You can mail me here https://www.nairaland.com/sendemail/weselion