This is a lesson a friend learnt the had way yesterday.

He apparently took a loan during this lockdown as emergency fund with dah hope of settling his obligation come ending when he picks up his month end salary.

He took loan from one 9ja Cash ( Soko Loan Company). Guess how much he took? #5000 for 2weeks and was expected to pay back #8000. I was alarmed when he showed my the interest rate. #3000 on top #5000

Now here is the twist. He stays and works in lag. The loan was due and he was stranded in Ogun Prior till lock down. Remember Ogun lockdown was extended by a week more. They called my guy for repayment and he request for a week extention so he could pay when work resumes following Monday. The loan ppl said not possible that he needs to find money and pay. They won't bulged come what may.

After 4days of late repayment they posts this to all his contacts.

An existing loan defaulter by name ............with 0803................ is on the run with the company money, the public is therefore advise to be aware of him as he is dubious. He will be apprehended and dealt with soon. 9JA CASH

I was stunned when I got a text as a contact on his phone. Called him immediately. I even thought he did some fraudulent transaction running into millions. Alas! I was mortified when he mentioned what he owed was a mere #8000 and the loan shark felt the best recovery practice was to tarnish his name.

I was even more angry with him why he didn't explore me as a friend if he needed financial bail out. He expressed he saw the app on Playstore and needed to connect his mum's cable subscription that expired two weeks before.

Sent him the credit immediately for him to repay his obligation and gave him a piece of my mind.


As I was blaming my friend today for his actions. I sure hope the CBN is also paying attention to all this unregulated financial outlets especially on the google playstore. Trapping ppl with loan of lower principal and higher interest rate.


My advise to everyone, explore your inner cliques when the need for cash is imminent. LOAN SHARKS like SOKO LOAN and others won't think it twice to ruin your personality for peanuts.

Think twice before taking loan from unregulated sources. You just might be like my friend, who pay back more thank just money.

Thank you.

They must be mad! Greedy pple everywhere loan of 2wks with over 50% interest, what re they turning this country into all in the name of economic depression.

They must be sick!

Got a loan from MIGO a week before the lock down thinking I would definitely got money to pay back before the expire date (14 days) then the lock down happened..

Bros I paid 1150# interest on top 2500# loan plus additional 650# for late payment = 4300#

There would be 650# added interest weekly if I failed to pay when due... I was lucky to pay back the debt with one nairalnad giveaway. My balls almost explode each time they sent me reminder text...

quick question wat happens if d loan is not paid back

betonnaira:
quick question wat happens if d loan is not paid back

They will mess up your reputation now.....

emilomona:
They must be mad! Greedy pple everywhere loan of 2wks with over 50% interest, what re they turning this country into all in the name of economic depression.

One just need to be real careful of this online credit platforms. Most offers peanut irrespective of your imcome but with cut neck interest rates

betonnaira:
quick question wat happens if d loan is not paid back

You will have everyone on your contact receiving a message like this.

An existing loan defaulter by name ............... with 0802.......................... is on the run with the company money, the public is therefore advise to be aware of him as he is dubious. He will be apprehended and dealt with soon. 9JA CASH[i][/i]

That will ruin you for life. Most them a branchless and faceless.

[quote author=Skmoda360 post=89309126]
They will mess up your reputation now.....[/quote

Exactly]

OP is on point.

If you have HBP, these loan sharks can kill you with their text messages.

I've had a bad experience too.

Stay away from these loan apps on the Playstore.

Skmoda360:

They will mess up your reputation now.....

just dat so no physical confrontation

Crystasluvee:


You will have everyone on your contact receiving a message like this.

An existing loan defaulter by name ............... with 0802.......................... is on the run with the company money, the public is therefore advise to be aware of him as he is dubious. He will be apprehended and dealt with soon. 9JA CASH[i][/i]

That will ruin you for life. Most them a branchless and faceless.

just dat so no physical confrontation

Nigerians are funny...these people didn't force u to take their loans and i am so sure that we all know that default has its implications.

Why take loans when u know paying would be an issue? It is high time we tell ourselves the truth.

I don't see any wrong in the way they acted,after all,u agreed to be binded by the agreement.

Nice thought lines. In as much as I lean towards your school of thought, I still won't but reason if truly slandering someonez name due to unavaoidable repayment is the best way to go by said company. Covid19 has taken its effects on many business. Most financial institution are introducing moratorium which could extend to more than 6 weeks as means to help clients cushion the adverse effects of this pandemic. That for me Is way to go. Its just that most of us in this part of the world do not have indepth info of our right. Privacy of client data is not to be shared with third parties irrespective of the stance the loan exhibits.

What happens if all their customers take loans and default because of Covid-19? Won't the companies fold up and sack their employees?

You should also know that these loans given to you are also deposits/investments of other people.

Do you want them to tell their depositors stories when it's time to repay them? Will you accept such stories if you happen to be one? This is business dude.

Crystasluvee:
This is a lesson a friend learnt the had way yesterday.

He apparently took a loan during this lockdown as emergency fund with dah hope of settling his obligation come ending when he picks up his month end salary.

He took loan from one 9ja Cash ( Soko Loan Company). Guess how much he took? #5000 for 2weeks and was expected to pay back #8000. I was alarmed when he showed my the interest rate. #3000 on top #5000

Now here is the twist. He stays and works in lag. The loan was due and he was stranded in Ogun Prior till lock down. Remember Ogun lockdown was extended by a week more. They called my guy for repayment and he request for a week extention so he could pay when work resumes following Monday. The loan ppl said not possible that he needs to find money and pay. They won't bulged come what may.

After 4days of late repayment they posts this to all his contacts.

An existing loan defaulter by name ............with 0803................ is on the run with the company money, the public is therefore advise to be aware of him as he is dubious. He will be apprehended and dealt with soon. 9JA CASH

I was stunned when I got a text as a contact on his phone. Called him immediately. I even thought he did some fraudulent transaction running into millions. Alas! I was mortified when he mentioned what he owed was a mere #8000 and the loan shark felt the best recovery practice was to tarnish his name.

I was even more angry with him why he didn't explore me as a friend if he needed financial bail out. He expressed he saw the app on Playstore and needed to connect his mum's cable subscription that expired two weeks before.

Sent him the credit immediately for him to repay his obligation and gave him a piece of my mind.


As I was blaming my friend today for his actions. I sure hope the CBN is also paying attention to all this unregulated financial outlets especially on the google playstore. Trapping ppl with loan of lower principal and higher interest rate.


My advise to everyone, explore your inner cliques when the need for cash is imminent. LOAN SHARKS like SOKO LOAN and others won't think it twice to ruin your personality for peanuts.

Think twice before taking loan from unregulated sources. You just might be like my friend, who pay back more thank just money.

Thank you.

thanks for this topic op God bless u am actually in the same predicament as I speak with u they deduct my own from d bank account

Ibechris2:
Nigerians are funny...these people didn't force u to take their loans and i am so sure that we all know that default has its implications.

Why take loans when u know paying would be an issue? It is high time we tell ourselves the truth.

I don't see any wrong in the way they acted,after all,u agreed to be binded by the agreement.

wetin dis one dey talk

Crystasluvee:
This is a lesson a friend learnt the had way yesterday.

He apparently took a loan during this lockdown as emergency fund with dah hope of settling his obligation come ending when he picks up his month end salary.

He took loan from one 9ja Cash ( Soko Loan Company). Guess how much he took? #5000 for 2weeks and was expected to pay back #8000. I was alarmed when he showed my the interest rate. #3000 on top #5000

Now here is the twist. He stays and works in lag. The loan was due and he was stranded in Ogun Prior till lock down. Remember Ogun lockdown was extended by a week more. They called my guy for repayment and he request for a week extention so he could pay when work resumes following Monday. The loan ppl said not possible that he needs to find money and pay. They won't bulged come what may.

After 4days of late repayment they posts this to all his contacts.

An existing loan defaulter by name ............with 0803................ is on the run with the company money, the public is therefore advise to be aware of him as he is dubious. He will be apprehended and dealt with soon. 9JA CASH

I was stunned when I got a text as a contact on his phone. Called him immediately. I even thought he did some fraudulent transaction running into millions. Alas! I was mortified when he mentioned what he owed was a mere #8000 and the loan shark felt the best recovery practice was to tarnish his name.

I was even more angry with him why he didn't explore me as a friend if he needed financial bail out. He expressed he saw the app on Playstore and needed to connect his mum's cable subscription that expired two weeks before.

Sent him the credit immediately for him to repay his obligation and gave him a piece of my mind.


As I was blaming my friend today for his actions. I sure hope the CBN is also paying attention to all this unregulated financial outlets especially on the google playstore. Trapping ppl with loan of lower principal and higher interest rate.


My advise to everyone, explore your inner cliques when the need for cash is imminent. LOAN SHARKS like SOKO LOAN and others won't think it twice to ruin your personality for peanuts.

Think twice before taking loan from unregulated sources. You just might be like my friend, who pay back more thank just money.

Thank you.

HIRE A LAWYER IMMEDIATELY

ecolime:
What happens if all their customers take loans and default because of Covid-19? Won't the companies fold up and sack their employees?

You should also know that these loans given to you are also deposits/investments of other people.

Do you want them to tell their depositors stories when it's time to repay them? Will you accept such stories if you happen to be one? This is business dude.

Yes! Essence of every business venture is to make appreciable return on investment but done within the confines and decorum of the law. We are nothing but animals and savagery beast without law n order. Transparency and privacy of client data is key to client's protection which all financial institutions has promised to uphold.

Afolabimills:
thanks for this topic op God bless u am actually in the same predicament as I speak with u they deduct my own from d bank account

This are issues bothering live of active poor and average income earners. This unregulated financial institutions are using as the two edged sword to ruin lives in this country.

Afolabimills:
wetin dis one dey talk

Am surprised too. But won't blame him for his naivety. Youths like him are the reason we have laggerheads as leaders saddled with mantle of making espected changes in this country.

Afolabimills:
wetin dis one dey talk

I am saying that agreement should be respected.

The rich get richer because they respect agreement and that is why banks go after them to give them more money for business,while the poor gets poorer because they disregard agreement and do not honour it,hence the reason why loans becomes a burden to them.

Next time,don't take loan if u will not pay as at when due.

I borrowed one like that for school this year,. It is fair money...I borrowed 8k because the hunger was real, it was for two weeks after the week elapsed...
Come see trouble, they called my parent and almost all my contacts....
Las Las I paid 18k Sha.....
Life is tough

Crystasluvee:
This is a lesson a friend learnt the had way yesterday.

He apparently took a loan during this lockdown as emergency fund with dah hope of settling his obligation come ending when he picks up his month end salary.

He took loan from one 9ja Cash ( Soko Loan Company). Guess how much he took? #5000 for 2weeks and was expected to pay back #8000. I was alarmed when he showed my the interest rate. #3000 on top #5000

Now here is the twist. He stays and works in lag. The loan was due and he was stranded in Ogun Prior till lock down. Remember Ogun lockdown was extended by a week more. They called my guy for repayment and he request for a week extention so he could pay when work resumes following Monday. The loan ppl said not possible that he needs to find money and pay. They won't bulged come what may.

After 4days of late repayment they posts this to all his contacts.

An existing loan defaulter by name ............with 0803................ is on the run with the company money, the public is therefore advise to be aware of him as he is dubious. He will be apprehended and dealt with soon. 9JA CASH

I was stunned when I got a text as a contact on his phone. Called him immediately. I even thought he did some fraudulent transaction running into millions. Alas! I was mortified when he mentioned what he owed was a mere #8000 and the loan shark felt the best recovery practice was to tarnish his name.

I was even more angry with him why he didn't explore me as a friend if he needed financial bail out. He expressed he saw the app on Playstore and needed to connect his mum's cable subscription that expired two weeks before.

Sent him the credit immediately for him to repay his obligation and gave him a piece of my mind.


As I was blaming my friend today for his actions. I sure hope the CBN is also paying attention to all this unregulated financial outlets especially on the google playstore. Trapping ppl with loan of lower principal and higher interest rate.


My advise to everyone, explore your inner cliques when the need for cash is imminent. LOAN SHARKS like SOKO LOAN and others won't think it twice to ruin your personality for peanuts.

Think twice before taking loan from unregulated sources. You just might be like my friend, who pay back more thank just money.

Thank you.

bro sokoloan are mudafukas. If u check on playstore u will see the reviews. They're are disrespectful scammers and need to be taken Down. In fact fuxk their CEO and everyone there.

Justarandomguy:
bro sokoloan are mudafukas. If u check on playstore u will see the reviews. They're are disrespectful scammers and need to be taken Down. In fact fuxk their CEO and everyone there.

This trash needs to be blacklisted.. whats is wrong is wrong

Justarandomguy:
bro sokoloan are mudafukas. If u check on playstore u will see the reviews. They're are disrespectful scammers and need to be taken Down. In fact fuxk their CEO and everyone there.

They are real.trash

logic102:
I borrowed one like that for school this year,. It is fair money...I borrowed 8k because the hunger was real, it was for two weeks after the week elapsed...
Come see trouble, they called my parent and almost all my contacts....
Las Las I paid 18k Sha.....
Life is tough

Jeez! This peeps are on the roll.

wandetooblack:
Got a loan from MIGO a week before the lock down thinking I would definitely got money to pay back before the expire date (14 days) then the lock down happened..

Bros I paid 1150# interest on top 2500# loan plus additional 650# for late payment = 4300#

There would be 650# added interest weekly if I failed to pay when due... I was lucky to pay back the debt with one nairalnad giveaway. My balls almost explode each time they sent me reminder text...

I heard those guys are the worst in terms of interest and nagging for repayment.

Crystasluvee:

I was even more angry with him why he didn't explore me as a friend if he needed financial bail out. He expressed he saw the app on Playstore and needed to connect his mum's cable subscription that expired two weeks before.

He took a loan for a vain liability.
SMH

Useless apps
That was how one was texting me everyday that i will be reported to EFCC and that all my family members will be notified that i am a fraud...




Las las local man just ignored till date!

Afolabimills:
thanks for this topic op God bless u am actually in the same predicament as I speak with u they deduct my own from d bank account

How did they do it