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What Will Happen If One Fails To Pay Back Loan From Loan App? - Business (12) - Nairaland

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Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by luluosas(m): 8:44pm On Jan 12, 2020
My advice to everyone owing money whether bank, lending apps, or online lending platforms, please try and pay up so that you can have rest of mind. God bless you all.

Romans 8:13 KJV
"Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law".

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by donPhill(m): 8:45pm On Jan 12, 2020
UDOKABESTLUV:

How Much Are you owning them
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Greatdesi(m): 8:46pm On Jan 12, 2020
UDOKABESTLUV:

I ask a simple question bro
.
You really should be ashamed of yourself. You are asking these questions so you'll be sure you'll be safe if you don't pay back the loan. And I saw your posts where you were threatening to report to the moderator people here that gave you good advice, you can go ahead and report, I'm not afraid of telling you the truth.

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by hidhrhis(m): 8:48pm On Jan 12, 2020
UDOKABESTLUV:

What about if the person way borrow the money later die, what will they do
Lols bro u wan kill me with laughter
I no know
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by hidhrhis(m): 8:50pm On Jan 12, 2020
luluosas:
Please, kindly pay off the loan for your own good.
You might not be threatened now if you choose not to pay. But believe you me, it will certainly count against you in the future when you have long forgotten that you once owed a debt you deliberately refused to pay. Thank you.
I'm going to do so bro thanks a lot
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by luluosas(m): 8:52pm On Jan 12, 2020
You are welcome
hidhrhis:

I'm going to do so bro thanks a lot
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by omoadeleye(m): 8:56pm On Jan 12, 2020
UDOKABESTLUV:

Bro, I will report your account to moderator, be careful


Is like something is wrong with you? Are you the one to tell me what to post?
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UDOKABESTLUV(m): 9:01pm On Jan 12, 2020
omoadeleye:



Is like something is wrong with you? Are you the one to tell me what to post?
Is against Nairaland forum rules
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UDOKABESTLUV(m): 9:02pm On Jan 12, 2020
hidhrhis:

Lols bro u wan kill me with laughter
I no know
Be Serious Please
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by SEGLIZ: 9:02pm On Jan 12, 2020
UDOKABESTLUV:

Do you want a Loan, for your Business

yes I do.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UDOKABESTLUV(m): 9:03pm On Jan 12, 2020
Greatdesi:
.
You really should be ashamed of yourself. You are asking these questions so you'll be sure you'll be safe if you don't pay back the loan. And I saw your posts where you were threatening to report to the moderator people here that gave you good advice, you can go ahead and report, I'm not afraid of telling you the truth.
This is my thread please, I have all the right on the thread I open
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by SexytorresE(f): 9:04pm On Jan 12, 2020
Cutehector:
you can imagine.. If you were in my contact list, I would still turn you back to those apps.
of wishes were � horse. But I’m grateful grin
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UDOKABESTLUV(m): 9:04pm On Jan 12, 2020
Reffone:
Yes 07031094338
Check out my signature and add me On Whatsapp
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UDOKABESTLUV(m): 9:05pm On Jan 12, 2020
SEGLIZ:

yes I do.
Meet Me On Whatsapp Bro
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by UDOKABESTLUV(m): 9:05pm On Jan 12, 2020
SEGLIZ:

yes I do.
Can you check my signature
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by LORDKing001: 9:07pm On Jan 12, 2020
Johans1991:
pls can i get your contact? mine is 07033189842
I will chat u now
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by loswhite(m): 9:09pm On Jan 12, 2020
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
bunch of useless citizens...later they will say Dubai is like this US is like this...smh

2 Likes 1 Share

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by SEGLIZ: 9:12pm On Jan 12, 2020
UDOKABESTLUV:

Can you check my signature

why go off the platform.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by harmargedon: 9:12pm On Jan 12, 2020
.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by hidhrhis(m): 9:22pm On Jan 12, 2020
UDOKABESTLUV:
Be Serious Please
nothing will be done
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by davidodiba(m): 9:25pm On Jan 12, 2020
Neduzze5:


How much did you borrow from that nonsense Branch that you were unable to pay back sef? Branch that finds it hard to give out better money.

@OP, basically there is what we call Credit Reports which is currently been handled and overseen by Credit Bureaus. It's like what we have in advanced countries.

Where you are unable to repay your loan on time, most loan companies give you a lifeline of one month or less.

After that, your BVN, the amount you owe and other details are sent to the Credit Bureaus who then upload it to your report.

It starts to count against you and you may become unable to access loans both from banks and other loan apps until you repay your debt.

As such, always ensure to pay your loans on time. Take loans from better loan companies that give you longer periods of repayment like Carbon, etc.

Omo. ..Carbon is bae

1 Like

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by agarawu23(m): 9:26pm On Jan 12, 2020
Cutehector:
what is the code
*561#
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by zeedof(m): 9:27pm On Jan 12, 2020
UDOKABESTLUV:

Please Sir, Are you on whatsapp
yes
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Neduzze5(m): 9:30pm On Jan 12, 2020
Thegoodone13:
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?

Send me a message on WhatsApp
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by agarawu23(m): 9:34pm On Jan 12, 2020
kayodez:



Really.. but they don't have app. How will they get ur contacts?
once you register, they have access to all your phone book.
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by mujaya1(m): 9:40pm On Jan 12, 2020
UDOKABESTLUV:
I want us to talk
ok no problem
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by m140(m): 9:48pm On Jan 12, 2020
walex2:
i will advise people never to take loan from SOKOLOAN, that person will regret it, they charge 37 percent in 10 days, very stupid and rude people, as for getting your contact through app download is very true but i believe you can report and they will be blocked from playstore. it is illegal to collect personal data through GPS
I just pity them, na carbon strong pass, been using them since 2016,i fault, I no gree pay them on purpose, just wan see wetin happen, at the end them debit me last cus I Don forget I owe them, they couldn't give me lone again till they changed to carbon, now am doing well with them, I paid 20k for two months on 25% interest. Sokoloan, if I handle those ones, hmmm dem go know, I Don do so many, I dey show them wella, but right now, I only owe one, but will pay them gradually. I know how to bypass all of them except carbon,

2 Likes

Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by m140(m): 9:52pm On Jan 12, 2020
Prechy08:
I will give an important advice because of my work experience.

Don't allow them to call you first or start harassing you, contact them or go to their office. be honest. it's now up to them to allow the month go or you pay something.

but honestly, a monthly debit has being set in your account so even if you pay some the mandate still stand and waiting.

even if you don't use that account, CBN has given credit firms power to take money from other account you have.

not paying Will lead to you being black listed, in the future you can't do any serious credit transactions with any bank. at the embassy self it will show , you can be denied Visa.

interest will keep accuring on the account, before you say jack it will increase or tripple and you must pay.

in other words the implications are high, so go and pay, avoid the stress, it's not worth it.
Even if you contact them first, branch change am for me, but later paid them, was really sorry for the fuckup cus I collected the money when I ran out of transport fare n got no money in my account
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by loswhite(m): 9:53pm On Jan 12, 2020
Thegoodone13:
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?
is it up to 30 days?
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by Abdulrasheed100(m): 10:08pm On Jan 12, 2020
Your debt record will be sent to Bureau and you will be ban from taking any other loan either online or bank because it will always appear to every organization that u have bad loan records. It also affects when someone is seeking for visa to travel abroad, visa may be denied
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by carlos1(m): 10:09pm On Jan 12, 2020
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.

Did they call ur contacts to report u that u were owing Dem like they stated in their terms?
Re: What Will Happen If One Fails To Pay Back Loan From Loan App? by carlos1(m): 10:25pm On Jan 12, 2020
zeedof:
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...

What about calling ur contacts? Do they really do this and is it legal?

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