Palmerbarry:
Dear Sokoloan, I will be in my best behaviour while posting this.

I applied for a loan a month back which I didn't repay in time. I got a call from an extremely rude official 5 days after I received the loan. She informed me that payment is due and I should do that immediately. I tried to be friendly but she wasn't. I asked if I could pay part but she arrogantly declined.
The next day I got a call from her again with insults this time. I told her she's not professional with her work and that made her worse. She threatened to disgrace me in the worst way ever (via SMS). My phone got stolen that night. A day after she sent the most devastating message ever to all my contacts. How she got access to them still surprises me. In her message, she said I'm a wanted criminal on the run with company funds. I got tons of messages on Facebook and missed calls and messages on my other line - my former employers, course mates, lecturers, neighbors, family, besties, other influential people. I was really mad! I had over 300 contacts for Christ sake. I called her immediately to send a convincing message to my contacts. She was adamant and continued with her insult, I fired back not minding her age. I threatened to take the case to court, but I was financially down at that moment. My sister called her immediately she got one of her text and they ended up insulting eachother. I called her some days after, she was a bit calm, and I asked if she would resend another SMS and make everything transparent to my contacts. She said once the payment is complete we'd discuss that. When the payment was deducted automatically from my account, I called the number, but the new user doesn't seem to know me. She requested for my login number I gave her but she said she can't access my account. Up till now. I think I've been too calm with them and I am taking it up now.

The worse part of it is I lost most of my contacts which means I may not be able to clarify myself. This is the worst thing ever to happen to someone.




I've mailed them concerning the issue and I'm yet to get feedback.

Pics below:

Guy forget Sokoloan, they are the worst money lending company in Nigeria. They give you loan at almost 55% interest in 14days... Which business dem expect you to do to make such profit in 14 days?

I took a loan of 15k from them in January... 2weeks later, dey called and I told dem to wait til month ending wen salary comes... D lady wan start dey insult me na i end d call. Na so dem start dey call me morning and evening and i tell dem 2 weeks time...and na so dem dey add money join every day o (dem say penalty charges for late payment)


About 4 days later, i got that text wen dem send ur contact so from them and den, d same lady called saying dem wan send d message to all my contacts say i be criminal and run with their funds.....

I sincerely thanked the lady and urged her to send the msg immediately but also told her, once that msg is sent, AM NOT REFUNDING AGAIN. the company should get their funds from my contact and dat I will deactivate my ATM immediately we end the call which means they can't access my account anymore.....

Na this month make am 12 months now... I still dey wait for them to send d msg...... ( I go pay them by next tomoro sha cos I nor fit carry debt enter new year)

Let's be clear. The only reason y'all hate loan apps is because you took a loan you know you can't/won't pay back.

After agreeing to the terms and conditions of the loan, you all come back crying online to castigate the same loan app that choose to help you in your desperate hour.

Imagine condemning sokoloan for debiting your account without notice Are you people ma.d? Did you read the terms and conditions of the loan during your application?

You used your hand to submit your contact, yet come back crying and asking why sokoloan called your contacts. Some of you are just m.ad.

Btw, 99% of Nigerians are not credit worthy. You all are the same people that fail to pay back interest-free loans given to you by friends, neighbors and relatives.

AchalugoNwa:
na only me fit them

late last 2 years I took 30k loan from them
I intended paying on time ooo infact I was about to pay them that day in the evening.
but these ediots started their normal way of rubbish insult.
this one na man ooo
next thing is that they started sending useless messages to my contacts
that was when I vowed never to give them shi shi
They call call tire
one of them used her personal number to call me and be begging me to pay even if na half.
i asked her about my image they've dented?
she said nothing
then I told her frankly that I will never pay a dime to them
that my image is priceless.
Meanwhile I've messaged all my contacts to disregard any messages about me that my phone was hacked and a serial blackmailer on the loose.
Hehehehehe they believed me.

Meanwhile the useless sokoloan was still begging and I kuku blocked their numbers and blacklist them
till today I no pay them shi shi

op you're not supposed to pay that money I swear

You wicked shai....
Na your type get Lai Mohammed Blood...
Shame....

espn:
Let's team up and deal with this people. I have never borrowed from them but it is very annoying. How do they have access to peoples phone contact. This is completely illegal and complete fraud. Hacking into peoples phone without there consent.

Why do ppl borrow without intentions to payback? If 1 million ppl borrow 1k and say is it not just 1k....lol. The citizens are worst than the leaders

Omihanifa:
One guy told me Soko loan went and sent a message to his ex- girlfriend only for that one to even load them with additional information about him

He said the babe gave them his house and office address only for Soko loan to call him the next day and they were telling him that if he doesn't pay up his debt they will come to his house and office

For all the noise being made here, they still.have a 4.9 rating on playstore

There is a reason you are asked for permission to allow the loan app access your contacts.

For anyone who wants to take out a loan from these Shylock apps, please populate your contact list with fake contacts or take the loan out on a burner phone.

More importantly, try to pay off your loans with no stories!!!!

I received on of these embarrassing text message because a contact on my phone took one of these loans. I called him up and he was owing 25k; I called the loan company and paid of the loan for him and told them to send another sms saying he had paid off. No word from them

EhisChelsea1:


Guy forget Sokoloan, they are the worst money lending company in Nigeria. They give you loan at almost 55% interest in 14days... Which business dem expect you to do to make such profit in 14 days?

I took a loan of 15k from them in January... 2weeks later, dey called and I told dem to wait til month ending wen salary comes... D lady wan start dey insult me na i end d call. Na so dem start dey call me morning and evening and i tell dem say month ending.... 26th to be precise...and na so dem dey add money join every day o (dem say penalty charges for late payment)


About 4 days later, i got that text wen dem send ur contact so from them and den, d same lady called saying dem wan send d message to all my contacts say i be criminal and run with their funds.....

I sincerely thanked the lady and urged her to send the msg immediately but also told her, once that msg is sent, AM NOT REFUNDING AGAIN. the company should get their funds from my contact and dat I will deactivate my ATM immediately we end the call which means they can't access my account anymore........ (Their mumu company know say na my salary account I use and I activate auto-debit which means once money enter, dem fit auto-remove am even before me notice the alert yet greed and impatience not allow dem rest)

Na this month make am 12 months now... I still dey wait for them to send d msg...... ( I go pay them by next tomoro sha cos I nor fit carry debt enter new year)

...and that 15k loan is now almost 50k...

Almost 35k interest on 15k loan.... And dem go still dey stress person

AchalugoNwa:
na only me fit them

late last 2 years I took 30k loan from them
I intended paying on time ooo infact I was about to pay them that day in the evening.
but these ediots started their normal way of rubbish insult.
this one na man ooo
next thing is that they started sending useless messages to my contacts
that was when I vowed never to give them shi shi
They call call tire
one of them used her personal number to call me and be begging me to pay even if na half.
i asked her about my image they've dented?
she said nothing
then I told her frankly that I will never pay a dime to them
that my image is priceless.
Meanwhile I've messaged all my contacts to disregard any messages about me that my phone was hacked and a serial blackmailer on the loose.
Hehehehehe they believed me.

Meanwhile the useless sokoloan was still begging and I kuku blocked their numbers and blacklist them
till today I no pay them shi shi

op you're not supposed to pay that money I swear

The problem of this country is lack of basic Education of how certain things work... How can you destroy your credit rating because of 30k? Too many dumb citizens in this country

Palmerbarry:
Dear Sokoloan, I will be in my best behaviour while posting this.

I applied for a loan a month back which I didn't repay in time. I got a call from an extremely rude official 5 days after I received the loan. She informed me that payment is due and I should do that immediately. I tried to be friendly but she wasn't. I asked if I could pay part but she arrogantly declined.
The next day I got a call from her again with insults this time. I told her she's not professional with her work and that made her worse. She threatened to disgrace me in the worst way ever (via SMS). My phone got stolen that night. A day after she sent the most devastating message ever to all my contacts. How she got access to them still surprises me. In her message, she said I'm a wanted criminal on the run with company funds. I got tons of messages on Facebook and missed calls and messages on my other line - my former employers, course mates, lecturers, neighbors, family, besties, other influential people. I was really mad! I had over 300 contacts for Christ sake. I called her immediately to send a convincing message to my contacts. She was adamant and continued with her insult, I fired back not minding her age. I threatened to take the case to court, but I was financially down at that moment. My sister called her immediately she got one of her text and they ended up insulting eachother. I called her some days after, she was a bit calm, and I asked if she would resend another SMS and make everything transparent to my contacts. She said once the payment is complete we'd discuss that. When the payment was deducted automatically from my account, I called the number, but the new user doesn't seem to know me. She requested for my login number I gave her but she said she can't access my account. Up till now. I think I've been too calm with them and I am taking it up now.

The worse part of it is I lost most of my contacts which means I may not be able to clarify myself. This is the worst thing ever to happen to someone.




I've mailed them concerning the issue and I'm yet to get feedback.

Pics below:

Wetin you find go there

toprealman:

5K.....wow!

Multiply 5k with just 10000 persons then you will understand that it is not just 5k....We really need to change our mentality

Elzakzaky:
Even the name of the loan should have warned you to keep off. sokoloan. it means they have shoko for head.
On a serious note, you cant really blame them. Most people take loans with intentions of defaulting.

It is a chinese company and chinko no get joy..



Honestly it is hard to get nigerians to repay loans, especially when no collateral is involved.

Their staff are threatened with sack if they fail to meet target . so ,if you can't take the heat, pls don't take the loan..

Though, I think cnn should step in to get them to calm down and be more respectful

Nigeria's legal system is slow, corrupt and way too complicated that's why people can go unpunished for clear crimes like these.

But the op's experience is a learning point for anyone seeking to engage these loan sharks.

God bless you for this comment.....I wish I could find the right words to appreciate you...Most people applying for online loan have no repayment plan....

loswhite:
Why do ppl borrow without intentions to payback? If 1 million ppl borrow 1k and say is it not just 1k....lol. The citizens are worst than the leaders

No one borrows with an intent not to pay back. Try and take 2k loan from dem. Default by just a day and see the insults u will receive from them...

Den, come back here and tell us how u feel....

loswhite:
The problem of this country is lack of basic Education of how certain things work... How can you destroy your credit rating because of 30k? Too many dumb citizens in this country

It is a lack of financial education. Many of these people think defrauding a loan company is smartness. They never consider the future consequences.

Forget about court or whatever. First you are at fault not to have repaid as at when agreed.

Secondly you don't expect them to accept that u will pay part or that u are working on paying later, this is business n if everyone that received loan from them behaved that way then d business will collapse.


Thirdly as for contacting ur contacts, it is because of breech of contract which is what they will say in court n they will also say that you accepted the terms and conditions when ur loan was applied for or approved.


You will not win in court my brother.
I know what they have done is deep but next time digest TERMS and CONDITIONS properly before rushing to accepts


In conclusion, u signed up for this. It's painful but take heart

Whobedatte:
Sokoloan is LAPO in disguise

HAHAHAHA! There is one LAPO in my area, whenever I pass there, there is always fight. I didn't know they also lock up loan defaulters in their office. lol! Sokoloan is LAPO in disguise true true.

My brother, why apply for loan and you don't want to payback? I have been with Kwikpay credit for many years and I always pay back before due date.

I hear from some of my friends that they are also very strict when you default but I have never experienced that with Kwikpay

Pele!

so people still patronize sokoloan?
if it's not BRANCH then count me out

As their name apply they have choko for brain

5thAngel:

I'm sorry to hear about your bad experience. I work at Some Loan and it is their policy to send those messages to a loan defaulter's contact.
They employ a lot of people and just like banks or other institutions that gives a target, there are bound to be employees who tend to be very harsh on customers in a bid to get them pay up their loan.
It's unlikely you'll get your demand for messages to be sent to your contacts to notify them that your debt has been paid, I'll advise you let it go, no matter how painful it is.

Once again, I'm sorry about your experience and for others who have experienced this.

Let what go?

Look some of this loan companies are worst than Buhari government, how can you damage someone reputation just because he failed to pay his loan on time?

we tolerate too much in this country.


It is not the same lending 9credit, quick cash, palm pay etc are doing?


I took loan from 9credit though it was just 2500 while in school, because of lectures here and there and exams at the corner, I forgot to pay back..
Two days to due date I was reminded of the pay day,I still forgot... two weeks later I received an SMS from 9 credit thanking me for paying my loan.

what they did was, they silently deducted their money from my account, I just smile.


What about quick cash, same thing they will even give you time and tell you if you are not ready to pay they can extend payday for you.




The best loan companies in Nigeria are QUICK CASH, 9CREDIT, AND PALM PAY ETC...

Run away from opay loan ,there own is thet will be increasing the money everyday

SocialJustice:
You sound like a rogue seeking sympathy. People like you are the reason I'm going into collateral backed loans so wen you Bleep up I'll sell your collateral and not waste my time employing people to harass you.

Rubbish, you can't pay but you're borrowing.

Is this one mad ni? Abi he lack sense that's not common? Abi, what are we saying and what is this one typing here? Seems you're one of those cursed Sokoloan staff... better stay in your lane and mind your business.

Juliearth:






What I dont understand is how these loan sharks can append a profit index of 60 percent for a 14 day loan. Isnt the duration way too short considering the profit index? This country is truly a mess

It is why they are called LOAN SHARKS. I think how they go about embarrassing people, for me, is the problem. Every Nigerian has a credit rating that can be checked or investigated, from mobile usage to bank 'weight' but these guys won't. To draw in customers, they would rather just give out loans to anyone and then move to start harassing them. Those guys who do are their collection guys and they probably realized threats work better.

Patronizing loan sharks is a disaster.

5thAngel:

I'm sorry to hear about your bad experience. I work at Some Loan and it is their policy to send those messages to a loan defaulter's contact.
They employ a lot of people and just like banks or other institutions that gives a target, there are bound to be employees who tend to be very harsh on customers in a bid to get them pay up their loan.
It's unlikely you'll get your demand for messages to be sent to your contacts to notify them that your debt has been paid, I'll advise you let it go, no matter how painful it is.

Once again, I'm sorry about your experience and for others who have experienced this.

“Let it go “ is the reason there is so much injustice in this country . Doing that nonsense over 5k is totally unnecessary. My question to you is this . How do you get peoples phone contacts ? Did they give you willingly or your company harvests it illegally ?

#END SOKOLOAN#

jamesbridget13:
Forget about court or whatever. First you are at fault not to have repaid as at when agreed.

Secondly you don't expect them to accept that u will pay part or that u are working on paying later, this is business n if everyone that received loan from them behaved that way then d business will collapse.


Thirdly as for contacting ur contacts, it is because of breech of contract which is what they will say in court n they will also say that you accepted the terms and conditions when ur loan was applied for or approved.


You will not win in court my brother.
I know what they have done is deep but next time digest TERMS and CONDITIONS properly before rushing to accepts


In conclusion, u signed up for this. It's painful but take heart

Who be this one, which hole did you crawl out from?

So he lost his right as a citizen of this country just because he defaulted?

You call him a criminal on the run when in reality you know is not true and expect him to keep quite?


Check your body temperature pls.

AchalugoNwa:
na only me fit them

late last 2 years I took 30k loan from them
I intended paying on time ooo infact I was about to pay them that day in the evening.
but these ediots started their normal way of rubbish insult.
this one na man ooo
next thing is that they started sending useless messages to my contacts
that was when I vowed never to give them shi shi
They call call tire
one of them used her personal number to call me and be begging me to pay even if na half.
i asked her about my image they've dented?
she said nothing
then I told her frankly that I will never pay a dime to them
that my image is priceless.
Meanwhile I've messaged all my contacts to disregard any messages about me that my phone was hacked and a serial blackmailer on the loose.
Hehehehehe they believed me.

Meanwhile the useless sokoloan was still begging and I kuku blocked their numbers and blacklist them
till today I no pay them shi shi

op you're not supposed to pay that money I swear

Why default on a loan you took?
Nigerians are difficult to do business with?
It's not fair

#End sokoloan#

I don't blame Solo loan at all. You all saw the interest rate and payment period. If you kept to your promises, you wouldn't be blaming them now. Naija that u will borrow your friend money and lose both the friend and money

EhisChelsea1:


No one borrows with an intent not to pay back. Try and take 2k loan from dem. Default by just a day and see the insults u will receive from them...

Den, come back here and tell us how u feel....

Nobody cares about your intent, Plus you are very wrong...Alot of Nigerians borrow without intentions to payback. 2K maybe small to you but Multiply it by just 10000 person then you will have a better understanding...