Stella Dimoko Korkus.com: NITDA Fines Loan Company N10 Million For Contacting Loan Defaulter's Friends To Cause Embarrassment

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Thursday, August 19, 2021

NITDA Fines Loan Company N10 Million For Contacting Loan Defaulter's Friends To Cause Embarrassment

 




41 comments:

  1. It's very very illegal,such embarrassment.Its too bad

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    Replies
    1. If you dont want auch embarrassment then pay up!

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    2. Miss Aboki, there are other legal remedies available to the Loan Company. It is highly unprofessional and embarrassing to bombard friends and acquaintances of a Debtor with messages.
      I don't even want to start talking about the breach of privacy and obvious data infringements.
      In all, loan companies should do better.

      Also,

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    3. That's how they kept sending me messages both on WhatsApp and normal SMS. That my lodge mate during Nysc is a fraudster. According to them, " K U is a

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    4. Let me copy and paste one of the texts they sent to me here :THIS IS TO INFORM THE GENERAL PUBLIC THAT... IS A CRIMINAL ON THE RUN WITH COMPANY MONEY, STAY AWAY UNTIL HE'S ARRESTED. They kept sending both on WhatsApp and normal SMS. This guy was my lodge mate during nysc. I never believed what ever accusation they layed at him. I called my then roomie and she confirmed that she receives same messages. I had to call the guy immediately and he said he took a loan from them. I wish I could assist him. He was a very nice guy .
      This guy was the most hardworking guy during our NTSC .I don't know why he had to go through all this... Marriage is another phase of life I presume.
      He got married last December; , my instinct tells me he took loan to sponsor the wedding. See eh, all that glitters is not gold. Let's never wish to be anybody. You don't know the battles they are facing secretly. I don't want to say much about that my that my friends situation now. I'm just imagining how I kept tapping blessings

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    5. Slim shady you say he took loan to sponsor wedding? These ones that send messages to people's contacts don't give out big amount of loans, they give out between 2k - 20k. They don't lend big money. The ones that lend out big money from 50k up to 500k don't embarrass people. They only send you text messages to remind you.

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    6. Slim shady he probably took small loan to buy food or meet a small financial obligation. The ones that give large amount don't embarrass people

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  2. This is good to hear that we still have regulatory bodies that works

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  3. Some people sef are wicked. How can you take loan then refuse to pay back. Spoiling opportunities for people who would have used the loan wisely.

    This is why banks don't give loans to commoners.

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  4. Very what!!!! Very good!!!!
    Months ago I kept receiving messages about a particular lady, my childs school teacher. They wrote unprintable things about her, didnt want to ask her directly cause it will be more embarrassing because she is reserved. I met the school headteachers who she is close to and got the shock of my life. Because of #10000 only, #10000 my child's teacher name was rubbished in the mud. Shameless people they sent texts to almost all parents. They should sue their stupid behind of every dime...ndi ara.

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    1. Which one is common 10000? Why you no pay for her then.

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    2. You should have pay on her behalf and save her the embarrassment.

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    3. @Giftmoesha If you think that #10000 is enough to shame someone when the 24hrs given to her hadn't elapsed, you are wired wrongly. Check your batteries and confirm they are working.
      #10k...I would have paid without blinking a second.What is #10000 that you would tarnish anybody's image for. Let me hear word abeg

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    4. Anon, 11:24 Thanks for that reply

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    5. Anon 11:24, you are very reasonable. Apparently, @giftmoesha might be working for such companies, that's why she's very defensive of their actions.
      In my friend's case, she had even repaid the loan long ago, but that didn't stop these dubious loan companies from reaching out to her contacts and sending them very nasty messages about her.
      Take a loan from these companies at your own detriment.

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    6. Giftmoesha oya check your batteries. Is it working?

      Stella your bvs na hypertension medicine, nobody should swallow vasoprin and all sorts. Come SDK blog you'll be extra happy from comedy.
      🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
      My belle o

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  5. Good. I got a message like that and the person wasn't even in my contacts.

    I have registered alot of these loan companies and I also put policies in place that are within the law incase of loan default on their apps but copying of contact info is not one of them.

    It's wrong and unethical which is why most of them lose in court.

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  6. It is quite embarrassing but people should stop borrowing money that they can't pay...


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    Replies
    1. Uncle Chike, there's something called life and it happens to people especially business people. The market near my house has been demolished. If a trader there borrowed and can't pay due to unforseen circumstances, should she kill herself? It's illegal and unlawful and there are legal means of recovering money from defaulters not this jankara market approach. Is it money they want or just embarrassing the defaulters? If the pressure is much and the person kills himself or herself out of depression caused by the embarrassment please what have they gained? Someone I used to know committed suicide because of debt embarrassment. I hope the loan company followed her to the grave to collect the money.

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    2. Anon 12:07,
      Life happens, yes but there are so many people that borrow money promising to pay back in one week, but deep down their heart they know that they won't pay you back in years to come.

      Was it not here we read a story of a man that borrowed money from one of this loan app and destroyed his sim, bragging that he won't pay back.

      I can tell you that there are people that will be owing you and will still come back to tell you to lend them some money or give them credit and add it to their old debt.

      True that there are some people that owe and can't pay up their debts because of circumstances but there are some people who enjoy owing debts.

      So if someone know that he/she can't pay a debt, let that person not borrow.


      As I dey like this, I don't owe anybody and I always try not to owe anyone.
      I hate lending people money or giving out my goods on credit because if the person fail to pay up on time like promised, I will drag the person mercilessly more than these loan apps.
      So to save myself the stress and the debtor embarrassment, I don't lend money or sell credit to anyone.
      If it is amount I can't forfeit, I can't give it out.

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  7. Good move!
    They should seek other means of recovering their loans instead of sending damaging messages to one's contacts.
    I received one of such messages, claiming the person is a fraudster who ran away with company's money and should be arrested and handed over to the police if seen anywhere. I didn't even know who the person was, maybe a random customer on my contact list.

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    Replies
    1. This is what I replied the last people that disturb my phone to help them recover their funds."I have no affiliations with her,I don't need to ensure she complies,it's non of my business,I wasn't there when she got the loan,don't involve me in retrieving it".
      The lady was my course mate back in school,we don't even talk maybe twice in a year and this loan agency keep sending me message,I didn't inform her na them sabi.

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    2. In their little minds, reporting the person and telling lies on him or her would facilitate the payment, if it happens to me, I will never pay that loan and I will prevent anyone of my contacts from paying it. After damaging my reputation you now expect me to pay you? Will you send them another set of messages that I am not a fraud?

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    3. Anon 15:51 ,I like people like you. After tarnishing somes image you now expect the person to pay back

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  8. BITCHandSLUT.com19 August 2021 at 12:04

    Fine them for what?

    People are very wicked and wouldn't want to pay back money they borrowed it they don't do that way.

    If you know you cannot pay up, don't even go and borrow and if you don't like embarrassment then you pay up your debt.

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  9. No borrowed money is ordinary, If its ordinary or too small then pay up. Although its wrong to start sending the contacts messages. But you self no dey borrow money wey you no say you no go fit pay, cut your coat according to your size.

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  10. I am just dumbfounded some people actually think such loan recovery mechanism makes sense, just amazed😳.

    Remind me again how much embarrassment has been levied on the big wigs in this country that borrow, can’t pay, and in the end have most of their loans written off? Would they DARE try this with a rich person? No, just the poor desperate ones.

    Please this loan recovery method is wrong on every level. I am surprised the CBN let it go on at all.

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    Replies
    1. So, wait, to you it's okay to borrow money and not pay back? This is now a rich vs poor matter. I can see we deserve the leaders we get in this country.

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    2. Anon 14:13, credit is used worldwide to oil the wheels of business and the economy. When a borrower is not paying, you used legal and sensible means to recover your money, including taking the person to court. Sending embarrassing messages to everyone on their contact list is reprehensible and has no place in the modern world.
      How does my earlier post translate into support for borrowing without payback? I only meant such rubbish loan recovery method can only be applied on the poor and desperate.

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  11. From the comments I've read here, it seems there are lots of BVs working in these loan companies.
    Because I don't understand how one will justify sending nasty text messages to strangers, over a paltry sum.

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    Replies
    1. Anon
      The question is, why did the person borrow the "paltry" sum and still can't pay it?

      One of the annoying statements of debtors is "is it because of ordinary/common 10k"
      It is not ordinary since you can't afford it.

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    2. Anon, don't borrow what you can't pay back. Haba. Is it free money? Nigerians!! Try and be honest fornonce.

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    3. Please, put yourself in the shoes of the loan companies whereby you've given out cash to several people who are defaulting, losing money that may result in the business closing down. Tell us, how would you go about this?

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  12. That was how I got one of such messages about a friend. I quickly contacted her and she told me to disregard it that it was scammers that hacked her phone. Then she put up a disclaimer on her status. It was when I came on SDK few days after the incident and someone coincidentally made a comment about this, that I realized that she probably took a loan she couldn't repay hence the embarrassment.

    SDK blog is one place where you're truly informed and educated.

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    Replies
    1. Yes SDK to the rescue on meeting people with experience

      Some people i know borrow from Soko & it has been embarrassing them.
      Two of them if the are not embarrassed will never pay the money, the are used to borrowing & using it to engage in nonsense. Though that approach is bad but that's what some Onigbeses
      deserves

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  13. This will definitely be soko loan

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  14. I'm owing like many apps I pray God help me to clear my debts

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    Replies
    1. God will help us. We are in the same boat. Me I keep borrowing from new ones to pay the old ones as salary is being owned for three months now in my place of work and no other work in sight.

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